Professor Holden’s research focuses on contract theory, organizational economics, law and economics, and political economy. He has written on topics including: network capital, political districting, the boundary of the firm, incentives in organizations, mechanism design, and voting rules. He is currently editor of the Journal of Law and Economics and is the founding director of the Herbert Smith Freehills Initiative on Law & Economics at UNSW.
|China is no longer the most attractive growth opportunity for Western multinationals.||Neither Agree nor Disagree||8||“Demand in China is clearly softening, but given secular stagnation in advanced economies, it is unclear what the attractive alternatives are.”|
|In the next five years, the blockchain will have a transformative effect on finance in emerging markets.||Agree||6||“I see blockchain as an enhanced contracting technology, and it is in areas where contracts work less well that it will have the most impact. Emerging-market financial contracting is a leading example. There is, however, a great deal of uncertainty about what might occur.”|
|In the absence of a carbon tax, industry self-regulation can help mitigate the worst fallout from climate change.||Strongly Disagree||10||“We’ve seen what happens without a carbon tax — a complete failure to address climate change. Industry ‘self-regulation’ also does nothing on the consumer side. A carbon dividend plan, like that of the Climate Leadership Council, is the most pragmatic way forward in addressing climate change and compensating individuals, while maintaining international competitiveness.”|
|Amazon’s new $15 per hour minimum wage will force other companies to follow suit.||Agree||9||“As a big employer, the upward pressure on wages will make other employers compete for workers. In addition, this might well provide ‘air cover’ for moves to increase state and city minimum wages in various parts of the country — an issue in the last presidential campaign.”|
|Restrictions on skilled immigration will cause US firms to to shift more operations overseas.||Strongly Agree||10||“Skilled immigration — combined with sophisticated capital markets — has been at the heart of American dominance in the new economy. It is also vital in engineering and other fields that could move offshore.”|
|Uber has to develop self-driving cars in the next 10 years in order to remain viable.||Disagree||9||“They either need to do that to reduce costs, or raise prices. But the price hike required to make Uber profitable is not prohibitive.”|
|A trade war will be more disruptive to business than to consumers.||Agree||7||“In the short run, it will be very disruptive to business (as we have already seen), but eventually that will flow through to consumers.”|