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Yassine G

Yellen: Unemployment and Inflation Still Short of Fed's Goals - MarketPulse - 1 views

www.marketpulse.com/...flation-still-short-feds-goals

inflation unemployment fed goals monetary

shared by Yassine G on 10 May 14 - No Cached
  • Yassine G on 10 May 14
     
    This article talks about the inflation and unemployment rates in the United States. According to the Federal Reserve Chair, the economy is still unstable as unemployment rates exceed the Fed's goals, while inflation rates need a boost to achieve the target of 2%. The article suggests that monetary policies are going to be used in order to achieve the macroeconomics target of the USA. 
Yassine G

Portland mayoral candidates disagree a bit - 1 views

www.tennessean.com/...16506111

Supply-Side government infrastructure growth unemployment leaders elections

shared by Yassine G on 01 Oct 14 - No Cached
  • Yassine G on 01 Oct 14
     
    This article highlights the objectives of candidates who are running to be mayor of the city of Portland. They discuss what their vision is and how they could reach it. Some of their goals is improving infrastructure which is an interventionist supply side policy. The article also highlights some macro economic objectives such as growth and lower unemployment 
Haydn W

South Africa at 20: Storms behind the rainbow - Opinion - Al Jazeera English - 1 views

www.aljazeera.com/...-behi-2014320155339545752.html

Aggregate Supply South Africa GDP Mandela

shared by Haydn W on 30 Mar 14 - No Cached
  • April 27 marks the 20th anniversary of South Africa's first democratic elections.
  • Many things have improved in South Africa since 1994, to be sure. State racism has ended, and the country now boasts what some have described as the most progressive constitution in the world. People have rights, and they know that there are institutions designed to protect and uphold those rights. Still, everyday life for most South Africans remains a struggle - a struggle that is infinitely compounded by the sense of disappointment that accompanies it, given the gap between the expectations of liberation and the state of abjection that the majority continues to inhabit.
  • South Africa's unemployment rate in 1994 was 13 percent - so bad that most were convinced it could only get better. Yet today it is double that, at about 25 percent.
  • ...15 more annotations...
  • And that's according to official statistics; a more reasonable figure, according to most analysts, is probably closer to 37 percent. The situation is particularly bad for young people. The Economist recently reported that "half of South Africans under 24 looking for work have none. Of those who have jobs, a third earn less than $2 a day."
  • South Africa also boasts a reputation for being one of the most unequal countries in the world. Not only has aggregate income inequality worsened since the end of apartheid, income inequality between racial groups has worsened as well.
  • According to the 2011 census, black households earn only 16 percent of that which white households earn. About 62 percent of all black people live below the poverty line, while in the rural areas of the former homelands this figure rises to a shocking 79 percent.
  • The ANC's Black Economic Empowerment programme has succeeded in minting new black millionaires (South Africa has 7,800 of them now), but can't seem to manage the much more basic goal of eliminating poverty.
  • during the negotiated transition of the 1980s and early 1990s. The apartheid National Party was determined that the transition would not undermine key corporate interests in South Africa, specifically finance and mining. They were willing to bargain away political power so long as they could retain control over the economy. And so they did.
  • The ANC was forced to retreat from its position on nationalisation and an IMF deal signed just before the transition deregulated the financial sector and clamped down on wage increases.
  • Still, when the ANC assumed power in 1994 it implemented a progressive policy initiative known as the Reconstruction and Development Programme (RDP). The RDP was designed to promote equitable development and poverty reduction
  • Despite its successes, this policy framework was abandoned a mere two years later. Mbeki and then Finance Minister Trevor Manuel held clandestine discussions with World Bank advisors toward drafting a new economic policy known as GEAR (Growth, Employment, and Redistribution, even though it accomplished precious little of the latter).
  • Given these contradictions, it's no wonder that South Africa is ablaze with discontent, earning it the title of "protest capital of the world".
  • Early this year some 3,000 protests occurred over a 90-day period, involving more than a million people. South Africans are taking to the streets, as they give up on electoral politics. This is particularly true for the young: Nearly 75 percent of voters aged 20-29 did not participate in the 2011 local elections.
  • The government's response has been a mix of police repression - including the recent massacre of 44 striking miners at Marikana - and the continued rollout of welfare grants, which now provide a vital lifeline to some 15 million people.
  • So far the protests have been focused on issues like access to housing, water, electricity, and other basic services, but it won't be long before they coalesce into something much more powerful
  • as they did during the last decade of apartheid. There are already signs that this is beginning to happen. The Economic Freedom Fighters, recently founded by Julius Malema, the unsavory former leader of the ANC Youth League, is successfully mobilising discontented youth and making a strong push to nationalise the mines and the banks.
  • It seems that the ANC's legitimacy is beginning to unravel and consent among the governed has begun to thin. It is still too early to tell, but the death of Mandela may further widen this crack in the edifice of the ruling regime, as the ANC scrambles to shore up its symbolic connection to the liberation struggle.
  • In short, the situation in South Africa over the past 20 years opens up interesting questions about the meaning of democracy. What is democracy if it doesn't allow people to determine their own economic destiny or benefit from the vast wealth of the commons? What is freedom if it serves only the capital interests of the country's elite? The revolution that brought us the end of apartheid has accomplished a great deal, to be sure, but it has not yet reached its goal. Liberation is not yet at hand.
  • Haydn W on 30 Mar 14
     
    From Al Jazeera I chose this article about the poor state of the economy in South Africa, 20 years after Nelson Mandela and the ANC came to power, ending the system of political, social and economic segregation, Apartheid. Despite reforms in the 90's the majority of wealth and power is still held by rich whites. With around 30% unemployment rate and young people struggling to find work many feel only anger and resentment to the current ANC government led by Jacob Zuma. Economically speaking South Africa's imports are up and exports down, reducing GDP as AS is shifted left. This is especially evident in industries like mining and banking which many are now calling for to be nationalised. 20 years on from Nelson Mandela's historic victory in the 1994 general election, South Africa, despite being free of the shackles of segregation is not in the boom many predict. The ANC must be careful in there actions, should they, following the death of Madiba lose contact with his legacy and what he stood for.
Dina B

How facing a scarcity - of cash, time, even play - can reset the way we think - 0 views

www.theglobeandmail.com/...article14321835

scarcity

shared by Dina B on 17 Sep 13 - No Cached
  • Dina B on 17 Sep 13
     
    This is an interesting article that talks about how scarcity can really badger with people's mind. It also talks about how it makes us as people, focus. I think this is because we need scarcity to be able to achieve our goals to make the resources we want easier for us to get. This article mentions the phycological research done by Prof. Shafir collaborating with an economics professor Sendhil Mullainathan to write ' Scarcity: Why Having Too Little Means So Much '. It is an interesting read.
Haydn W

What are multinationals doing to champion rights of millions trapped in modern-day slav... - 0 views

www.theguardian.com/...ations-compliance-human-rights

Multinational Corporations The Guardian Fair Trade Slavery

shared by Haydn W on 10 Mar 15 - No Cached
  • What are multinationals doing to champion rights of millions trapped in modern-day slavery?
  • With almost 21 million people working in forced labour conditions in the global economy, companies are being made to clean up their act
  • In a world of complex supply chains, migrant workers, sub-suppliers and a constant squeeze on costs, corporate leaders and their stakeholders are keenly aware of the risk of labour exploitation.
  • ...18 more annotations...
  • No industry or region is fully insulated from the social deficit which has emerged from the rise of the modern global economy.
  • Given the influence and impact that multinational corporations have, there is significant scope for corporate leaders to champion reform and action in this area.
  • However, the ILO estimates that 44% of those working in forced labour are also victims of trafficking (pdf).
  • The fight to eradicate the scourge of forced and child labour, sometimes referred to as modern-day slavery, has re-emerged as a defining issue in this century
  • The International Labour Organization (ILO) estimates that almost 21 million people are currently working in some form of forced labour, with 14.2 million in economic activities such as agriculture, construction, domestic work or manufacturing (pdf).
  • Beginning in California in 2012, following effective campaigning and lobbying to then-governor Arnold Schwarzenegger, mandatory corporate disclosure of a company’s non-financial activities has been on the rise.
  • From US President Obama’s executive order on trafficking and federal procurement, to the UK Modern Slavery Bill’s recent amendment to include supply chain disclosure provisions, to the EU’s adoption of a non-financial reporting directive, compulsory transparency around global corporate practices – including human rights, labour and social impacts and policies – is the latest tool being employed by legislators to place social expectations on corporations.
  • multinational corporations have grown significantly in terms of size, assets, resource control and revenue, not to mention societal influence.
  • This growth has been accompanied by growing expectations by society and government.
  • It is, of course, critical to recognise that the global corporate supply chain can be a force for good.
  • However, with their multiple levels of subcontracting, particularly throughout impoverished regions where labour laws are non-existent or not enforced, global labour and product supply chains also provide fertile ground for inhumane practices and working conditions.
  • The United States Department of Labor, for example, has produced a list of 136 goods produced in 74 countries using forced labour, child labour, or both.
  • Many leading companies already understand that their strategies shape the lives of millions. The most forward-thinking believe that business is an integral pillar of society and recognise that the people they rely on at home and abroad are central to building sustainable and lasting businesses.
  • And since mandatory disclosure requires all multinationals to take notice and action rather than just the industry leaders, this ultimately helps level the playing field.
  • Some believe supply chain transparency laws do not constitute any real change from the prevailing corporate-driven model for CSR, while others oppose increased regulation and oversight as unnecessary state intervention, believing that industry led efforts have the best chance of success.
  • it is a combination of corporate leadership and regulation in this area which will help ensure all market participants rise to acceptable standards.
  • The trend away from voluntary reports towards mandatory social reporting for global corporations is here to stay and may represent a first step towards increased legislative requirements
  • No matter where one believes the solutions lie, the ultimate goal is a global economy free from forced labour, trafficking and other abuses. For the millions of victims who go out into the world seeking work in the hope of building better lives, we must commit to seeking the best path forward.
Haydn W

NBRD: Belarus pursues balanced exchange rate policy | Economy | Headlines - 1 views

eng.belta.by/...hange-rate-policy_i_77318.html

Exchange Rates Belarus

shared by Haydn W on 16 Nov 14 - No Cached
  • MINSK, 14 November (BelTA) - Belarus pursues a balanced exchange rate policy and has been reducing the exchange rate of the Belarusian ruble gradually
  • Deputy Chairman of the Board of the Belarus National Bank Sergei Kalechits said at the Belarus-UK investment forum in London on 14 November
  • "We pursue quite a balanced exchange rate policy which is aimed at gradual reduction of the exchange rate. On the one hand, this is a reaction to the devaluation of the currencies of Belarus' major trading partners, which allows us to maintain the competitiveness of domestic exports,"
  • ...3 more annotations...
  • Sergei Kalechits also noted the National Bank pays great attention to the efficiency of credit resources. "This, too, is a key to the monetary stability," he said.
  • In general, an important element in raising foreign investment and improving the investment climate is the macroeconomic and monetary stability, primarily due to the lower inflation. "This is what our monetary policy is aimed at. Due to objective reasons, this rate is still fairly high,” he said.
  • The second goal that our monetary policy is aimed at maintaining the country's international reserves,” Sergei Kalechits noted.
  • Haydn W on 16 Nov 14
     
    This article from Belarusian news agency BeITA explains the exchange rate policy of the Belarusian National Bank, as described by Deputy Chairman Sergei Kalechits. It explains policy regarding the managed float status of the Belarusian Ruble and how the government pursues a balanced policy surrounding the currency, aiming to reduce the interest rate whilst maintaining competitive advantage with domestic exports.
Daniel Soto Aggard

Colorado Springs economic development: Moving forward in 2015 - 0 views

gazette.com/...1545958

economic development Colorado Fail

shared by Daniel Soto Aggard on 08 Feb 15 - No Cached
  • Daniel Soto Aggard on 08 Feb 15
     
    Colorado Springs Economic Development Corporation has been seeing a lack of economic development in the past year of 2014. This corporation hasn't achieved their goals of creating 2000 jobs. However they're not even halfway there. For this corporation to increase economic development within the are of economic development, more people must be employed in order to increase the output and therefore the GDP
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