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The Great Malaise Continues
The Great Malaise Continues NEW YORK – The year 2015 was a hard one all around. Brazil fell into recession. China’s economy experienced its first serious bumps after almost four decades of breakneck growth. The eurozone managed to avoid a meltdown over Greece, but its near-stagnation has continued, contributing to what surely will be viewed […]
On US Interest Rates
On US Interest Rates The first US interest rate increase since June 2006 is a pivotal moment for the global economy, launching what Mohamed El-Erian, Chief Economic Adviser at Allianz, calls the “great policy divergence,” with repercussions in every region and financial market. The impact will be particularly powerful in emerging countries, where currencies are vulnerable to […]
Joseph Stiglitz on Canada’s Housing Inequality: ‘It’s Very Disturbing’
Joseph Stiglitz on Canada’s Housing Inequality: ‘It’s Very Disturbing’ Ex-World Bank top economist talks unaffordability, the TPP, and being a fiscal ‘black sheep.’ Joseph Stiglitz, winner of the Nobel Memorial Prize in Economic Sciences, is the third-most cited economist in the world, according to Research Papers in Economics. Photo by David P. Ball. Skyrocketing housing […]
Ex-World Bank chief economist exposes “failure” of austerity, deregulation
Ex-World Bank chief economist exposes “failure” of austerity, deregulation Joseph Stiglitz, a senior OECD expert, slams OECD’s own policies to prevent global slowdown In a little-known speech at the United Nations University, renowned Nobel Prize-winning economist Joseph Stiglitz criticised Western approaches to addressing the global economic crisis for being obsessed with market solutions that cannot […]
A Step Forward for Sovereign Debt
A Step Forward for Sovereign Debt Every advanced country has a bankruptcy law, but there is no equivalent framework for sovereign borrowers. That legal vacuum matters, because, as we now see in Greece and Puerto Rico, it can suck the life out of economies. In September, the United Nations took a big step toward filling […]
Thousands reject the extractivist logic at the World Bank-IMF meeting in Peru
Thousands reject the extractivist logic at the World Bank-IMF meeting in Peru The annual governors’ meeting of the International Monetary Fund and the World Bank opened on October 5 in Peru’s capital city. In the meeting, an estimated 800 representatives from 188 countries were negotiating the shape of the world’s soon-to-be renovated finance infrastructure. While […]
America’s “Inevitable” Revolution & The Redistribution Fallacy
America’s “Inevitable” Revolution & The Redistribution Fallacy Here’s the good news: The chaos and upheaval we see all around us have historical precedents and yet America survived. The bad news: Everything likely will get worse before it gets better again. That’s NYPost.com’s Michael Goodwin’s chief takeaway from “Shattered Consensus,” a meticulously argued analysis of the growing disorder. Author James Piereson […]
Fed Up with the Fed
Fed Up with the Fed At the end of every August, central bankers and financiers from around the world meet in Jackson Hole, Wyoming, for the US Federal Reserve’s economic symposium. This year, the participants were greeted by a large group of mostly young people, including many African- and Hispanic Americans. The group was not […]
Nobel Prize Winning Economists, Federal Reserve Chair and Other Top Experts: War Is BAD for the Economy Washington’s Blog
Nobel Prize Winning Economists, Federal Reserve Chair and Other Top Experts: War Is BAD for the Economy Washington’s Blog. Debunking the Stubborn Myth that War Is Good for the Economy About.com notes: One of the more enduring myths in Western society is that wars are somehow good for the economy. It is vital for policy-makers, economists […]
The Age of Vulnerability by Joseph E. Stiglitz – Project Syndicate
The Age of Vulnerability by Joseph E. Stiglitz – Project Syndicate. NEW YORK – Two new studies show, once again, the magnitude of the inequality problem plaguing the United States. The first, the US Census Bureau’s annual income and poverty report, shows that, despite the economy’s supposed recovery from the Great Recession, ordinary Americans’ incomes continue […]
