Economy

Eureka! the price is right

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Asia Times had one excited economist this week as a deeper delve into the first-quarter growth data threw up some intriguing… STEVE WANG Asia Times Anyone fortunate enough to have shared an office with a follower of the dismal science will know that when a eureka moment strikes, the… “I’d like to thank my mom, my first grade math teacher, professor Ma … ad… Eureka! the price… Read More »

Property feeds the roots of inequality in Britain. Inheritance will entrench it

Family tree 1a Illustration Matt Kenyon

The homes passed on from this fortunate generation to the next will determine who is rich and who is poor in years to… Ian Jack The Guardian What did our grandparents leave us? That will depend on who they were and what they possessed, but in my case, not untypical of my generation, it wasn’t very… From my father’s side the treasures included: a stuffed canary; a tiny stuffed crocodile (a… Property feeds the… Read More »

Independence ‘reckless’ amid new UK-dependent jobs figures

Nicola Sturgeon 1a Picture PA

The prospect of a second independence referendum has been branded “reckless” after new figures revealed that more than half a… SCOTT MACNAB The Scotsman The move came as Nicola Sturgeon again confirmed she wants an independent Scotland to join the EU – which is far less important to… The figures were seized on as evidence of the benefits of the Union as campaigning swung into top gear ahead of the 8 June,,, Independence ‘reckless’ amid… Read More »

‘Need to protect interest in Exclusive Economic Zone’

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CM also appeals for steps to safeguard fishermen from attack by Sri Lankan… TAMIL NADU The Hindu Chief Minister Edappadi K. Palaniswami on Monday urged that the Indian fishermen must be protected from attacks (by Sri Lankan Navy) and called for safeguarding the maritime interests of the… Speaking at an event on board INS Chennai , which was dedicated to the… ‘Need to protect… Read More »

Why Don’t All Jobs Matter?

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President Trump is still promising to bring back coal jobs. But the underlying reasons for coal employment’s decline — automation, falling electricity demand, cheap… Paul Krugman The New York Times Meanwhile, last week the Treasury Department officially (and correctly) declined to name China as a currency… So will the Trump administration ever do anything substantive to bring back mining and… Why Don’t All… Read More »

China factories put weight behind forecast-busting 6.9% GDP

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Economic growth accelerates in first quarter as signs emerge of recovery taking broader… STEVE WANG and BEN RICHARDSON Asia Times China’s economic growth accelerated for the second straight quarter, beating expectations as a robust performance by the nation’s manufacturers weighed in… Growth in the secondary sector of the economy — manufacturing and… China factories put… Read More »

Does Greece Need More Official Debt Relief? If So, How Much?

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Creditor countries and international organizations continue to disagree whether Greece should receive additional official debt relief, and… Jeromin Zettelmeyer (PIIE), Eike Kreplin (German Federal Ministry for Economic Affairs and Energy) and Ugo Panizza (Graduate Institute, Geneva) This paper first shows that these disagreements can be attributed to competing assumptions about Greece’s future capacity to repay, particularly about… It next evaluates the plausibility of… Does Greece Need… Read More »

Finally, a breakthrough alternative to growth economics – the doughnut

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Instead of growth at all costs, a new economic model allows us to thrive while saving the… George Monbiot The Guardian So what are we going to do about it? This is the only question worth asking. But the answers appear… Faced with a multifaceted crisis – the capture of governments by billionaires and their lobbyists, extreme inequality, the rise of demagogues, above all the… Even if they had the courage to act, they have no idea what to… Finally, ... Read More »

Explainer: how wage growth contributes to the economy

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The Fair Work Commission is considering whether to increase Australia’s minimum wage. The Australian Council of Trade Unions is arguing for a A$45-a-week… Graham White  The Converstation Industry, arguing that currently business has limited ability to afford wages increases, wants the increase capped at 1.5% (closer to… While I suspect most people immediately focus on wages as a… Explainer: how wage… Read More »

Sticky tar of climate politics oozes over oil reserve valuations

Climate - AEI

Environmentalist ideology and political ambition in combination make for a dangerous blend, and nowhere is that truth clearer than in the context of climate politics, the valuation of fossil-fuel reserves and accusations of “fraud.” Benjamin Zycher AEI With the deregulatory decisions of the Trump administration, in particular in the context of a severe prospective reduction in federal efforts to control emissions of greenhouse gases (GHG), various pressure groups and state… Sticky tar of… Read More »

Co-ordination a must for eurozone survival

EU - Irish examiner

The eurozone crisis is far less dangerous now than during its peak years of 2010-13. Herman Van Rompuy, Fabian Zuleeg, and Janis A Emmanouilidis Irish Examiner Growth has picked up across the EU and 5m jobs were created between 2014 and 2017. But the EU… Co-ordination a… Read More »

Anti-graft body investigating China’s chief insurance regulator

Xiang Junbo 1a Reuters

Xiang Junbo, head of the China Insurance Regulatory Commission and a member of the central bank’s monetary policy committee, is suspected of ‘serious disciplinary violations’, a… Reuters Asia Times The head of China’s insurance regulator is being investigated for… China’s top leaders have pledged this year to… Anti-graft body… Read More »

Crude oil jumps, yen gains, stocks slide as US attacks Syria

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Bonds and other so-called safe haven assets gained in Asia trading ASIA TIMES AND REUTERS Asia Times Oil prices jumped and the yen gained against the US dollar in Asia on Friday after the United States fired multiple cruise missiles at… Brent crude futures, the international benchmark for oil, jumped by… US President Donald Trump said he had ordered missile… Crude oil jumps… Read More »

Israel, European States advance plans for world’s longest underwater gas pipeline

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The proposed 2,000 kilometer (subsea pipeline would connect gas fields offshore Israel and Cyprus with Greece and possibly… SHARON UDASIN TheJPost Aiming to transform the Eastern Mediterranean into a regional energy hub, Israeli and European officials signed a joint declaration on Monday to promote construction of the world’s longest subsea natural-gas… Israel, European States… Read More »

DEPA sees natural gas role for Greece exiting from the crisis

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Interview with Greek natural gas company DEPA CEO Theodoros… By New Europe Greece’s Public Gas Corporation DEPA is the company that introduced natural gas to Greece implementing a… Following the EastMed energy roundtable in Brussels on March 28, DEPA CEO Theodoros Kitsakos spoke to New… DEPA sees natural… Read More »

Jeb Bush warns robots taking US jobs is not science fiction

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Former Florida Gov. Jeb Bush said Sunday that people “should be marching in the streets” to demand changes to “antiquated” education systems that… DANIEL CHAITIN Washington Examiner “The looming challenge of automation and artificial intelligence and the rapid advancement of technology brings great benefits but also creates huge challenges,” Bush… The threat of a… Jeb Bush warns… Read More »