Genre: & Economics
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The Great Rebalancing
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adminAll economies are now said to be going through a process of globalization, or homogenization if you will. In other words, they are emulating the best practices out there. Such processes of emulation is of course premised on other platforms of the economy being functional.. That the banks, regulatory agencies,…
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The Fix
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adminJonathan Tepperman doesn’t waste your time in telling you where the problems are. He just goes ahead and lists them down. Problems like inequality, lack of political leadership,policy gridlock, immigration, the resource curse are among them. Unless and until a country is able to resolve these problems, either all at…
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Between Debt And The Devil
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adminIt has now become near consensus that the financial malaise affecting the world is due to high corporate debt. According to Rana Faroohar, mostCEOs on Wall Street are addicted to high borrowings; especially due to the low interest rates accorded to the debt. Thus, debt is leveraged, time and again, despite…
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Why Minsky Matters
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adminContemporary economics, rather than being a dismal science, has made the discipline a dismal subject. The numbers are dense and elaborate with equations that are almost unfathomable. Invariably, one has to wonder why, despite all the mathematical focus, economists the world over could still get the 2008 global financial crisis…
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The Euro: How A Common Currency Threatens The Future Of Europe
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adminThe Euro was created in 1999 by the European Commission and European Central Bank. The latter preceded its creation by a year. The goal was to reduce the transaction cost of European trade, by extension, the world’s trade with Europe. Indeed, Chancellor Helmut Kohl of Germany and President Francois Mitterand…
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Governing Borderless Threats
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adminScholarly works are often embedded with the intention to seek fame, potentially more funds, and faculty tenure (3Fs). Ironically, all three motivations are so powerful and engrossing that academics often lost sight of the 3Fs, and end up pushingout pages that no one can understand. The effects are disastrous in…
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Profit And Gift In The Digital Economy
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adminConventional wisdom has it there is no free lunch in the world. It is true to some extent. But the digital economy is filled with freebies, which allowed the author David Alder Wass to claim that our current vocabulary of the market economy has become dated. In a digital economy,…
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Fragile By Design
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adminBanking sectors are defined not by their capital ratio and balance sheets, let alone their ability to generate various forms of financial products, some of which are so complex and exotic they are “sliced” and “diced” in various permutations to be sold to other banks and economic agencies. The root…
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Dealing with China
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adminHenry M. Paulson, writing in the first-person narrative, makes everything look breezy. Unimpeded traffic into China, intimate meetings with the makers and shakers of China and ultimately getting the endorsement from President George Bush to create the “Strategic Economic Dialogue.” But the reality is of course more than meets the…
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The Cash Nexus: Money and Power In The Modern World 1700-2000
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adminHow do countries become powerful? Aong these lines, how do they end up dictating the flow and pattern of history? Niall Ferguson, latching on to historian Thomas Carlye’s concept of the “cash nexus,” argued that the determinants fell into four distinct areas: a tax collecting bureaucracy; national debt; parliamentary democracy;…