User:Nick Gardner

Biography:

Nick Gardner is retired after successive careers as a flight test observer, as a professional engineer, and as an economist. He has worked in two industrial companies, a research establishment and four government departments; and served as economic adviser to four cabinet ministers. As an engineer he was engaged in aeronautical research and development including the development of new manufacturing processes, he took part in the Concorde project and he visited the Apollo project. As an economist he evaluated numerous aerospace projects, he played a part in the development of UK competition policy and he managed a major statistical series. During his working life he contributed to several professional journals and symposiums on subjects including spotwelding, launching aid and project management, and since retirement he has written a book on contemporary economic history and another on competition policy that was published in three editions. His latest book is Mistakes – how they have happened and how some might be avoided. Nick is mainly interested in how people form beliefs and how they make decisions. Pursuit of that interest has led him to explore published work in the fields of philosophy, cognitive psychology, neuroscience, genetics, economics, politics, media studies, religion and decision theory. His CZ contributions have mainly been on the economics and his principal CZ objective has been to attract constructive criticism from fellow-economists and, with their help, to develop articles that provide a wide range of readers with a clearer perception of economic issues than can be gained from other sources.

Planned contributions

Articles to complete or update

High priority

• Macroprudential financial policy complete paragraphs on costs and benefits and policy decisions
• Recession of 2009 review and update
• Applied statistics add a paragraph on statistical interpretation.

Medium priority

• Recession (economics) develop timeline and add Japanese recession [1]
• bank failures and rescues more on Nordic and Asian crises [[2]].
• balance of payments expand using Wolf p201
• cost-benefit analysis add material on limitations of welfare economics
• crash of 1929 add links to subpages and complete the tutorials subpage and use some of Gillian Tet's material
• deflation add historical data from Bordo and Filado [3]
• financial system consider reference to White [4]
• fiscal policy complete paragraphs on welfare and stabilisation
• game theory (rename to the more convential "games theory"?) convert stub into article.
• Liberalism see talk page
• monetarism
• money supply add paragraphs on determinants, control and economic effects
• multiplier effect add text to existing opening
• rent seeking rewrite

Low priority

• economic statistics
• gross domestic produce add reference to Report by the Commission on the Measurement of Economic Performance and Social Progress [5]]
• Market add efficient market hypothesis
• Justice add material from Sen (2009) "The Idea of Justice"
• social choice theory

New articles

• Impossibility theorem: The proof that it is impossible to devise a rational democratic voting system that is guaranteed to produce a consistent set of preferences for a group from the preferences of the people in the group. ^[e]
•  Social choice theory: The study of systems of collective decision-making. ^[e]

Proposed deletions

(or blankings)

• cost of debt
• interest (finance)
• time value of money
• yield to maturity

Past Contributions

Nick has made substantial contributions to CZ articles on:-

•  antitrust: a policy to limit or prevent the creation of monopoly power and to preserve competition by regulating business conduct. ^[e]
•  applied statistics: the practice of collecting and interpreting numerical observations for the purpose of generating information. ^[e]
•  balance of payments: an accounting statement for the transactions of a country with the rest of the world. ^[e]
•  banking: the system of financial intermediation that provides the principle source of credit to individuals and companies. ^[e]
•  bank failures and rescues: an account of the occurrence , causes and consequences of bank failures, and of methods of dealing with them ^[e]
•  Bank for International Settlements: A forum of central bank governors and senior executives for the discussion and policy analysis whose standing committees include the Basel Committee on Banking Supervision. ^[e]
•  crash of 1929: the sharp fall in prices on the New York Stock Exchange that contributed to the severity of the Great Depression ^[e]
•  crash of 2008: the international banking crisis that followed the subprime mortgage crisis of 2007. ^[e]
•  credit rating agency: Rating which assesses the credit worthiness of a corporation's debt issues, and is a financial indicator to potential investors of debt securities such as bonds. ^[e]
•  deflation: a persistent sequence of reductions in the general level of prices. ^[e]
•  discount rate: (i) The percentage by which current value exceeds value in a year's time. (ii) The rate at which banks may borrow at their central bank's discount window. ^[e]
•  comparative advantage: The motive for trade that arises from the fact that for each trader there are things that he does best, and things that he can better obtain by trading. ^[e]
•  competition: The activity or condition of competing against others. Ecologically, the interaction between species or organisms which share a limited environmental resource. ^[e]
•  competition policy: Legislation which regulates business practices that restrict competition, and limits the ability of firms to combine in such a way as to enable them to restrict competition. ^[e]
•  economics: The analysis of the production, distribution, and consumption of goods and services. ^[e]
•  economic efficiency: Ratio of the quantity of some measure of output to the quantity of input required to bring it about. ^[e]
•  elasticity (economics): The ratio of the percent change in one variable to the percent change in another variable. ^[e]
•  EU competition policy: A policy intended to ensure undistorted competition within the EU market, by increasing economic efficiency in member states and to remove barriers to trade between member states. ^[e]
•  financial economics: the economics of investment choices made by individuals and corporations, and their consequences for the economy, . ^[e]
•  Financial Stability Forum: An international economic group consisting of representatives of national financial authorities including finance ministers, central bankers, and senior members of other financial organisations. ^[e]
•  financial system: The interactive system of organisations that serve as intermediaries between lenders and borrowers. ^[e]
•  financial regulation: a regime that has the purpose of promoting the stability of banks and other financial institutions and the purpose of preserving the integrity of the financial system. ^[e]
•  fiscal policy: Policy concerning public expenditure, taxation and borrowing and the provision of public goods and services, and their effects upon social conduct, the distribution of wealth and the level of economic activity. ^[e]
•  gold standard: a currency system in which a country's central bank is required to exchange, on demand, any currency unit for a stipulated quantity of gold. ^[e]
•  Government Sponsored Enterprises: Legal entity created by the United States Congress to assist certain groups of borrowers such as homeowners, farmers, ranchers, and mortgage lenders gain access to capital markets. ^[e]
•  Great Depression: the severe downturn in economic activity that started in 1929 in Germany and the United States and affected many other countries. ^[e]
•  Great Depression in Britain: The Depression as it affected the United Kingdom. ^[e]
•  Great Depression in the United States: an account of the origins of the Great Depression of 1929 - 1937. ^[e]
•  gross domestic product: The total of the outputs recorded in a country’s national income accounts. ^[e]
•  G20 summit: A meeting of the leaders of the twenty countries that are the largest in terms of economic output. ^[e]
•  history of economic thought: the historical development of economic thinking. ^[e]
• History of the United Kingdom: Add brief definition or description
•  inflation: An increase in the general level of the prices of goods and services. ^[e]
•  international economics: The study of the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration. ^[e]
•  International Monetary Fund: International organization that oversees the global financial system by stabilizing international exchange rates and facilitating development, and offering highly leveraged loans mainly to poorer countries. ^[e]
•  IS-LM model: Model of simultaneous equilibrium in the product and money markets - shown graphically as two intersecting interest rate/spending graphs, one depicting the investment/savings (I/S) relation and the other the liquidity/money (L/M) supply relation (also known as the Hicks-Hansen model). ^[e]
•  macroeconomics: The study of the behaviour of the principal economic aggregates, treating the national economy as an open system. ^[e]
•  microeconomics: A branch of economics that deals with transactions between suppliers and consumers, acting individually or in groups. ^[e]
•  money supply: the economy's stock of those assets that can be quickly exchanged for goods and services. ^[e]
•  monetarism: a theory that explains inflation as the inevitable consequence of an increase in the money supply. ^[e]
•  monetary policy: The economic policy instrument that is regularly used to stabilise the economy, and that has sometimes been used as a temporary expedient to relieve severe credit shortages. ^[e]
•  national Debt: the accumulated net borrowings of a country's government, or of its public sector. ^[e]
•  New Deal: The name President Franklin D. Roosevelt gave to the series of programs between 1933–1938 with the goal of relief, recovery and reform of the United States economy during the Great Depression. ^[e]
•  politics: The process by which human beings living in communities make decisions and establish obligatory values for their members. ^[e]
•  political party: An organization that seeks to advance the interests of its members by obtaining political power ^[e]
•  philosophy of economics: Add brief definition or description
•  price index: Add brief definition or description
•  production function: Add brief definition or description
•  public expenditure: Add brief definition or description
•  public good: Add brief definition or description
•  recession (economics): Add brief definition or description
•  recession of 2008: Add brief definition or description
•  social capital: Add brief definition or description
•  sovereign default: Add brief definition or description
•  subprime mortgage crisis: Add brief definition or description
•  supply and demand: Add brief definition or description
•  taxation: Add brief definition or description
•  terms of trade: Add brief definition or description
•  Washington Consensus: Add brief definition or description
•  welfare economics: Add brief definition or description
•  World Bank: Add brief definition or description

Easily lost links

CZ: Ready for approval#Economics

CZ: The Editor Role

CZ:Markup tags for partial transclusion of selected text in an article

CZ:Article Deletion Policy

Media Wiki[6]