Economy

Tackling rising inequality

High inequality is likely to undermine democracy, promote corruption and cronyism. Reduction of inequality on the other hand will lead to faster reduction of poverty a goal sought by both the Congress party and… Jayshree Sengupta ORF In the ongoing election, the ruling Bharathiya Janata Party (BJP) has focused on the concept of ‘New India’ and India’s future. Glorifying India’s past and promising progress in all economic fields are usually very attractive propositions for the average Indian who is sick ... Read More »

It’s time to vote for happiness and well-being, not mere economic growth. Here’s why:

As the federal election approaches, we’re expected to drown in slogans like “lower taxes”, “wage growth”, “franking credit reform” or “negative gearing reforms”. Authors: The Conversation These mostly assume voters are as obsessed as the politicians with economic and financial issues, rather than, say, the kind of Australia they want their grandchildren to live in. There’s no doubt we value a healthy economy and it can be argued Australia has enjoyed a “remarkable run” over the past 50 years. But ... Read More »

Picking Up the Pieces After Venezuela’s Quashed Uprising

A failed uprising by Venezuelan National Assembly Chair Juan Guaidó has emboldened President Nicolás Maduro and deepened the country’s political deadlock. ICG However difficult, outside actors should continue to press the two sides to form a transitional cabinet, stabilise Venezuela’s economy and hold elections. The events that shook Caracas on 30 April remain shrouded in mystery, but their immediate impact seems clear: further polarising a political stand-off and raising the likelihood of domestic or… They began with the… Picking Up ... Read More »

Migrants to the rescue of Victoria’s economy as housing slump digs in

Victoria’s population boom, with nearly 85,000 overseas migrants settling here in the 12 months to September 2018, is keeping the state’s economy out of trouble as the property market… Noel Towell The Age More than a third of Australia’s 240,000 overseas migrants last year made their way to Victoria, with most of the new arrivals settling in Melbourne and keeping the state’s economic engines… But there are worrying signs that the housing slump is eating away at consumer confidence, according ... Read More »

Navy needs more warships to patrol WPS—solon

The Philippine Navy needs more warships to guard the country’s 200-mile exclusive economic zone in the West Philippine Sea against potential foreign threats, Surigao del Sur Rep. Johnny Pimentel, a… Rio N. Araja and Nat Mariano Manila Standard “The Philippine Navy has to establish a credible presence there—in terms of combat ships—if we are to discourage foreign seaborne threats, including poachers,” he said amid reports that several… “The reality is, the Navy lacks battle-ready ships. This is why we are ... Read More »

Can Capitalism Beat Climate Change?

Only clear targets can transform rational self-interest from a potentially catastrophic force into a powerful driver of beneficial change. Adair Turner Project Syndicate Once investors know that the non-negotiable end point is zero carbon in 2050, they will desert any company whose plans are incompatible with that objective. LONDON – Easter visitors to London have found some streets and buildings occupied by “Extinction Rebellion” activists, warning of climate catastrophe and rejecting “a… Followers of central bank thinking have seen the ... Read More »

Global inequality is 25% higher than it would have been in a climate-stable world

Those least responsible for global warming will suffer the most. Poorer countries – those that have contributed far less to climate change – tend to be situated in warmer regions, where additional warming causes the most devastation. Nicholas Beuret The Conversation Extreme weather events such as Syria’s prolonged drought, South Asia’s catastrophic monsoon floods, and Cyclone Idai in South-East Africa, the third deadliest cyclone on record, are becoming more likely and more severe. These events are disproportionately bringing death, displacement, ... Read More »

Lettuce-Farming Robots Might Grow Your Next Salad

California’s grow houses are making use of applied intelligence and robotics to cultivate the time- and labor-intensive greens. Dimitra Kessenides Bloomberg Your next salad might include leafy greens grown by robots in California greenhouses. About 75 percent of the lettuce farmed in the U.S. comes from that state’s Central Coast and San Joaquin Valley. Cultivating it requires warm temperatures, not too much rain, and lots of time and labor. Startups such as Iron Ox, a maker of agricultural robots, and… ... Read More »

Venezuela’s Trade Scheme With Turkey Is Enriching a Mysterious Maduro Cron

Investigators say retrofitted criminal networks are being used to trade gold for the food that’s propping up the regime. By Michael Smith and Monte Reel From: New Economy Forum In the late afternoon of July 15, 2016, a cluster of staffers inside the Turkish Embassy in Caracas struggled to make sense of the images from home flashing across their televisions and computer screens. Military trucks were blocking a bridge over the Bosporus, tanks were rolling into the Istanbul airport, and ... Read More »

Not Proclaiming Exclusive Economic Zone Costing 28 Billion Kuna

ZAGREB, April 25, 2019 – MOST MPs Nikola Grmoja and Tomislav Panenić said on Thursday that Croatia is losing between 170 and 270 million euro each year for not declaring an… HINA Total Croatia News Grmoja told a press conference that during Wednesday’s parliamentary debate on a MOST-sponsored motion for Croatia to declare an EEZ, Croatian Democratic Union (HDZ) whip… “Because of that every year we lost funds equalling the value of one Pelješac bridge,” Grmoja said and added that ... Read More »

The Risks of Maximising Pressure on Iran

The Trump administration’s “maximum pressure” campaign against Iran is more likely to fuel resistance and retaliation than capitulation. Ali Vaez ICG Washington should heed past lessons lest it provokes a new nuclear crisis or a regional escalation. The U.S. decision on 22 April to end sanctions exemptions for Iran’s remaining oil customers, following on an earlier designation of the Islamic Revolutionary Guard Corps as a Foreign Terrorist Organization (FTO), significantly escalates the… The intent is clear: bankrupt Iran into… The Risks of… Read More »

New NOAA OceanReports Tool Brings Ocean Data to Your Fingertips

A new web-based interactive tool for ocean mapping and planning created by NOAA and the Department of the Interior’s Bureau of Ocean Energy Management (BOEM), is giving… Tammy Waitt American Security Today The new OceanReports web tool, available at http://www.marinecadastre.gov/oceanreports/, provides users specialized “ocean neighborhood analyses” including maps and graphics by… U.S. ocean waters comprise nearly four million square miles and is one of the largest Exclusive Economic Zones (EEZ) in the world. What is the EEZ? The exclusive economic zone ... Read More »

US to end Iran oil waivers to 8 countries, including Turkey

The United States announced on April 22 it will no longer grant sanctions exemptions to eight countries, including Turkey. Washington Hurriyet The White House said that Saudi Arabia and the United Arab Emirates- close U.S. allies that back President Donald Trump‘s hawkish stance against regional rival Iran– would work to make up the difference in oil to ensure that global markets are not rocked. “This decision is intended to bring Iran‘s oil exports to zero, denying the regime its principal source of revenue,” ... Read More »

How much of Europe does China own?

The European Union has introduced a new mechanism for screening foreign investment. It’s widely believed to have been prompted by concerns over China’s economic ambitions in Europe. By Reality Check team BBC News It will allow the European Commission – the EU’s executive arm -… In March, the European Commission called China a “systemic rival” and a “strategic competitor”. The Chinese Ambassador to the EU urged the bloc to remain “open and welcome” to Chinese investment, and not to “discriminate”. ... Read More »

Employers wary of hiring refugees and migrants to help fill shortages need help understanding the law

A recent survey I conducted of employers in Coventry in the West Midlands found that while 80% of the businesses we interviewed had hard-to-fill job vacancies, less than 5% had employed a… Catherine Harris The Conversation Yet, for most refugees, integration into their new home is heavily dependent on having a job. Finding employment is not only essential for refugees’ autonomy, but it can also improve language skills, increase cultural awareness, build local and social networks, and… If someone has ... Read More »

Will Conservatives Abandon the Free Market?

Conservatives would either “combat” or “convert” business or base their politics “squarely on it.” But, he warned, conservatism “founded on money,” is “fickle, selfish, and irresponsible.” Joshua Tait The National Interest WHEN FOX television host Tucker Carlson recently attacked conservative faith in free market economics, he probably surprised a number of his viewers. For too long, Carlson charged, libertarians and social conservatives have ignored the fundamental part economic structures play in undermining communities. Families are crushed beneath market forces. Disposable ... Read More »