The fate of the Fed's $85 billion-a-month bond-purchase program, which has bolstered stocks for months, could be determined on Friday
An initial response to the autumn statement. George Osborne is a political chancellor and he lost no opportunity in his fourth autumn statement to achieve maximum political capital from the strengthening of the recovery this year. Though the new forecasts...
The Washington Post should have found someone who would have pointed out President Obama's misrepresentation when it quoted him saying: "“Government can’t stand on the sidelines in our efforts [to reduce inequality and increase mobility], because government is us. Show More Summary
Ukraine's hryvnia exchange rate might just hold
The BEA reports: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.6 percent in the third quarter of 2013 (that is, from the...Show More Summary
Steve M.: But Real American Minority Groups Like Being Tyrannized by the Majority!: >I see that you can't get this shirt from the GOP anymore: >The National Republican Congressional Committee appears to have removed a t-shirt from its...Show More Summary
There's a link between RBS's big IT failure this week and Aditya Chakrabortty's complaint about the "corporate myopia" that has led big UK firms to reduce basic research. Both highlight a trade-off between short-term and long-term profit maximization and show...
Peer effects matter for consumer spending. A new paper finds that "the consumption decisions of U.S. households are to a large extent driven by upwardly directed interpersonal comparisons." That is, we spend more if our neighbours are living it large....
Having recently notched up my half-century - in a style more like Chris Tavare than I'd have liked - I was pleased to see Lucy Kellaway write this: Age continues to fascinate us. Whenever I interview anyone, I do not...
The old school headmasters were right; it is both desirable and possible to build character. That's the message of a new paper by James Heckman and Tim Kautz. They show that: Character skills [such as conscientiousness, sociability and perseverence] change...
David Brooks: >Now we turn to ethical issues. My first question, and this is a genuine question, concerns the victims. Let’s detach ourselves from the specifics of the Cain case and consider a general question: If you are the victimShow More Summary
Francis: Evangelii Gaudium: >Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. Show More Summary
(December 5, 2013 07:00 AM, by Alberto Mingardi) I highly recommend Dollars, Euros, and Debt by Vito Tanzi (I hope Palgrave may soon release a cheaper, softcover edition). Tanzi, a well-known economist, was for twenty years the head of the Fiscal Affairs Deprtament at the IMF. His last... (0 COMMENTS)
The NYT had a piece discussing the situation with Chicago's underfunded pensions. It could have used some additional context. First it would have been useful to point out how the pensions became badly underfunded. The problem goes back...Show More Summary
Interesting piece on the prospects of a doctor shortage by Scott Gottlieb and Ezekiel Emanual in the NYT. Interestingly they never discuss the possibility of bringing in more qualified doctors from other countries. It's much cheaper to train doctors (to U.S. Show More Summary
The U.S. is urging China to fulfill its economic reform promises and create an even playing field for all businesses following Beijing’s announcement of an ambitious reform agenda, but some foreign companies remain skeptical about the pace of change.
Latin American economic crises are less severe than they used to be
If Prime Minister Shinzo Abe really wants to push up wages to help end deflation, Japan may have to give up something else it has long cherished: job security.
It’s ECB day! The market doesn’t expect another rate cut, after last month’s surprise. But inflation and growth forecasts for 2014 could be revised down, while the bank’s first forecasts for 2015 will set the tone for future analysis and likely underscore the central bank’s forward guidance.
A leading Japan economist says Prime Minister Shinzo Abe' economic policies are on the right track, but warns that the Bank of Japan could upend the positive momentum.