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dredd15

French Economists: Toulouse vs. Paris - 0 views

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    French economists have never been as renowned as French philosophers, but currently French economists are on the rise. Two schools are competing for the title of savior of the French economy. The Toulouse School of Economics is number 7th in the world and the Paris School of Economics is 11th in the world. Both schools recruit internationally and have their own private-fundraising campaigns. The Toulouse School of Economics is focused on undergraduate studies specializing in industrial economics, market regulation, and economic theory; on the other hand, the Paris School of Economics, is for the upper-level French elite, only accepts graduates, and specializes in economic theory, public economics and statistics. Competition between these two schools of economic thought has produced new economic philosophies to solve the growing debt problem in France. Where the general systems of French are too "rigid", the Toulouse School and the Paris School seek to find ways to create innovations for a new France.
Kako Ito

China's Slowdown Tarnishes Economic Boom in Copper-Rich Zambia - The New York Times - 0 views

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    This article is an example of economic globalization. Chinese investments in Southern Africa are becoming more strained as reforms and regulations changes the economic outlook of South Africa.
topiarey

The Changing Nonlinear Relationship between Income and Terrorism - 0 views

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    1Department of Economics, Finance, and Legal Studies, University of Alabama, Tuscaloosa, AL, USA 2Department of Economics, School of Economic, Political & Policy Sciences, University of Texas at Dallas, Richardson, TX, USA Todd Sandler, Department of Economics, School of Economic, Political & Policy Sciences, University of Texas at Dallas, Richardson, TX 75080, USA.
Kay Bradley

Romney's new focus: pushing a five-point economic plan - Los Angeles Times - 1 views

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    Romney's five point economic plan--Los Angeles Times
Lexi Gentry

Rapid Economic Growth in China Is Chipping Away at Coastal Wetlands - 0 views

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    BEIJING - Coastal wetlands in China have vanished at an alarming rate because of the country's economic development, and current economic plans could diminish them to below the minimum needed for "ecological security," including fresh water, fishery products and flood control, according to a report released on Monday by Chinese scientists and an American research center.
Katie Despain

Ukraine's Gas Deal With Russia Reflects Shifting Pressures - 0 views

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    Months after the Ukraine crisis, Ukrainian officials still rely on Russia for gas sources. Interestingly, the economic fighting between Russia and Ukraine allows Russia and rebels in Ukraine to shift the focus of negotiations with Kiev from securing the border between Russia and Ukraine to the current economic problem. The pro-Western government in Kiev is forced to compromise with Moscow in order to receive essentials for the upcoming chilly winter. The deal shows that the Kremlin is switching from a military to an economic strategy to fight Ukraine's efforts to align itself with the West. Russia now imposes a trade war threat. Ukraine is the transit route for Russian gas supplies to 28 other countries. Ukraine cannot afford an economic shock from fuel shortages, because its economy is already expected to shrink this year by 7 percent.
Stuart Suplick

Chinese Leader's Economic Plan Tests Goal to Fortify Party Power - 0 views

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    All eyes are on China as its president and prime minister, Xi Jinping and Li Keqiang, plan to implement economic liberalization while increasing the power of the state political party. This has drawn criticism from political scientists, as discussed in the article, because of its apparent contradiction: how can you encourage markets and the private sector to open up more if you don't want to decrease the eminence of the state (and state control over sectors)? The reforms proposed by the state and government heads will try to make Chinese economic growth more sustainable in more ways than one, a task the previous president Hu Jintao shirked away from. Some political scientists also believe the problems arising from the reforms won't originate from "ideological conservatism", but rather from state-owned, controlled, or subsidized industries that do not want the increased market competition. Protectionism, anyone?
Kako Ito

Public insurance and the least well-off | Lane Kenworthy - 6 views

  • Public insurance also boosts the living standards of the poor. It increases their income, and it provides them with services for which they bear relatively little of the cost.
  • Critics charge that public social programs tend to hurt the poor in the long run by reducing employment and economic growth. Are they correct?
  • Does public insurance erode self-reliance? Is a large private safety net as helpful to the least well-off as a large public one? Are universal programs more effective than targeted ones? Are income transfers the key, or are services important too?
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  • Once again we see no indication that public insurance generosity has had a damaging effect
  • Note also that the employment rate increased in nearly all of the countries during this period. On average, it rose by nine percentage points between 1979 and 2013. That’s not what we would expect to see if generous public insurance programs were inducing large numbers of able adults to withdraw from the labor market
  • What we see in the chart is that countries with more generous public insurance programs tend to have less material deprivation.
  • With globalization, the advance of computers and robots, increased pressure from shareholders for short-run profit maximization, union weakening, and other shifts, wages have been under pressure. Couple this with the fact that many people at the low end of the income ladder have labor market disadvantages — disability, family constraint, geographic vulnerability to structural unemployment — and we have a recipe for stagnation in the market incomes of the poor.
  • here’s a good reason for these shifts: government provision offers economies of scale and scope, which reduces the cost of a good or service and thereby makes it available to many people who couldn’t or wouldn’t get it on their own.
  • Government provides more insurance now than it used to. All of us, not just some, are dependent on it. And life for almost everyone is better because of it
  • hese expenditures are encouraged by government tax advantages.22 But they do little to help people on the bottom of the ladder, who often work for employers that don’t provide retirement or health benefits.
  • To make them more affordable, the government claws back some of the benefit by taxing it as though it were regular income. All countries do this, including the United States, but the Nordic countries do it more extensively. Does that hurt their poor? Not much. The tax rates increase with household income, so much of the tax clawback hits middle- and upper-income households.
  • Another difference is that public services such as schooling, childcare, medical care, housing, and transportation are more plentiful and of better quality for the poor in the Nordic countries. Public services reduce deprivation and free up income to be spent on other needs. It’s difficult to measure the impact of services on living standards, but one indirect way is to look at indicators of material deprivation,
  • Targeted transfers are directed (sometimes disproportionately, sometimes exclusively) to those with low incomes and assets, whereas universal transfers are provided to most or all citizens.
  • Targeted programs are more efficient at reducing poverty; each dollar or euro or kroner transferred is more likely to go to the least well-off. Increased targeting therefore could be an effective way to maintain or enhance public insurance in the face of diminished resources.
  • “the more we target benefits to the poor … the less likely we are to reduce poverty and inequality.”
  • Korpi and Palme found that the pattern across eleven affluent nations supported the hypothesis that greater use of targeting in transfers yields less redistribution
  • The hypothesis that targeting in social policy reduces political support and thereby lessens redistributive effort is a sensible one. Yet the experience of the rich countries in recent decades suggests reason to question it. Targeting has drawbacks relative to universalism: more stigma for recipients, lower take-up rates, and possibly less social trust.44 But targeting is less expensive. As pressures to contain government expenditures mount, policy makers may therefore turn to greater use of targeting. That may not be a bad thing.
  • Public insurance programs boost the incomes of the least well-off and improve their material well-being. If such programs are too generous, this benefit could be offset by reduced employment or economic growth, but the comparative evidence suggests that the world’s rich nations haven’t reached or exceeded the tipping point.
  • Spending lots of money on social protection is not in and of itself helpful to the poor. Total social expenditures in the United States are greater than in Denmark and Sweden, because the US has a large private welfare state. But relatively little of America’s private social spending reaches the poor.
  • Public services are an important antipoverty tool. Their benefit doesn’t show up in income data, but they appear to play a key role in reducing material hardship. Services expand the sphere of consumption for which the cost is zero or minimal. And they help to boost the earnings and capabilities of the poor by enhancing human capital, assisting with job search and placement, and facilitating work-family balance.
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    Through this article I have gained a deeper insight in how public expenditures and public goods promote wealth equality in a society. "Public services are an important antipoverty tool."
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    This article really helped me deepen my understanding of redistributing wealth downwards. I never thought about it, but things like social security, affirmative action programs, and public education are actually insurances that attempt to provide everybody with more equality when it comes to living standards as well as basic human rights.
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    Yeah, it is a very common argument to say that social expenditures disincentives workers; interesting analysis on how wealthy countries haven't reached the "tipping point." I am curious to see what happens to labor force participation and employment in the next decades as robots further divorce economic growth from labor supply/demand.
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    Cool theory in regards to "the tipping point". Interesting, and solid criticism of large social expenditures. Wonder how socialists view this, as opposed to free-market economists.
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    "Public services are an important antipoverty tool. Their benefit doesn't show up in income data, but they appear to play a key role in reducing material hardship." INteresting to see the statistics and how social expenditures help reduce poverty and the wealth gap.
Kay Bradley

Beyond Belief - Clive Crook - The Atlantic - 0 views

  • name a single proposition in all social science that was both true and nontrivial. It took a while, but Samuelson finally thought of a good answer: the principle of comparative advantage
  • The doctrine in question, devised by David Ricardo in 1817, makes a strong claim about the gains that accrue from trade.
  • For nearly 200 years, the principle of comparative advantage, and the ideas about economic policy that flowed from it, divided the world into two camps: those with basic economic literacy, and the rest.
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  • Understanding this idea, and advocating it to the world, was part of what it meant to be an economist—especially an American economist.
  • ately things have changed. Some of America’s most eminent economists, including Samuelson himself, have edged away from that earlier consensus.
  • The shift is both momentous and disturbing. Just why it happened is a mystery.
  • what the principle of comparative advantage does not say.
  • trade between two countries will make both better off so long as each is especially good at making something different from the other
  • absolute advantage
  • there are mutual gains from trade even when one country is better at producing everything. All that matters is that its margin of superior efficiency is greater for some products than for others.
  • comparative advantage
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    Clive Crook weighs in on the Globalization debate.  
Matt Harband

Iranian Rial in Downward Spiral - 1 views

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    The Iranian national currency, the rial has been in steady decline for months, and the only method that the government has used to combat the issue is to print more money-- not the best plan of action.
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    Inflation at above 25% since January -- that's a ridiculous rate. As we saw in "Commanding Heights", economy and politics are closely tied together, and it will be fascinating to see to what extent the economy swings support toward Ahmadinejad's opposition. Could Iran be in a similar position as Russia was in the '80s, perhaps spending far too much on the military (nuclear bomb??) to manage the economy wisely?
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    I agree with what Alexander said. I think it would be interesting to investigate whether or not the Obama administration has considered applying economic pressure to Iran in order to achieve diplomatic means. With Iran in such an unstable economic state (which I am surprised isn't covered more by American news media), why would the US government even consider using military force against Iran if the Ahmadinejad regime could be destabilized in another way. We'll see how Obama and Romney treat this issue in the foreign policy debate, as Obama could use an argument based on Iran's economic instability in going against Romney's position on using military force against Iran.
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    yes!
gtgomes17

Latin America and the Caribbean - 4 views

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    Illustrating how the Bank's role in Latin America and the Caribbean has evolved in recent decades, countries in the region now turn increasingly to the institution for more than direct lending, including such services as risk insurance, commodity swaps, and climate adaptation finance.
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    From my last visit to Brazil, and what I heard from my family there, I can definitely see how the economy is shutting down. Reais are valued less than a dollar, so you can't get much with them. I am really hoping that, with help from the world bank, the Latin American economies are doing better.
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    The region is doing worse. "Latin America and the Caribbean finds itself in the fifth year of an economic slowdown and the second consecutive year of GDP contraction. Worsening external conditions coupled with domestic challenges have reduced expectations for regional growth to -0.7 percent in 2015, with economic activity projected to drop to -1.3 percent in 2016." But also, Mexico and the Caribbean are experiencing 2% growth, while South America is declining 1.7% or more. Why?
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    I think it is because (and this is just a theory, I do not know for certain) Mexico and the Caribbean have a direct relationship with the USA, which gives them extra economical assistance outside the World Bank.
Alex Sommer

German and Italian Leaders to Meet on Euro Crisis - 0 views

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    BERLIN - The top leaders of Germany and Italy plan to meet Wednesday as part of an intense round of shuttle diplomacy before several critical decisions that face Europe. The region's leaders are struggling to appease voters questioning the price of unity in the euro currency union after three years of financial turmoil.
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    I find European economics very fascinating, personally. Germany has been saving much of the Euro economy for three years since the economic crash began, but is not facing its own fiscal issues. In addition, the article discusses the actions of Italy's Prime Minister Mario Monti, who has been frantically attending meetings and important "coffees" with other European heads of states to prevent their country's growing national debt--already at 123% GDP!!!
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    What are Germany's own economic issues? It has seemed like the bulwark of Europe for the last five years! Are there things that are being ignored, e.g. migrant labor, cost of universal health insurance and old age pensions? Is Angela Merkel still popular? Who might succeed her? What are her party's politics?
charlesleesohn

How Singapore can secure its economic future, Economy News & Top Stories - The Straits ... - 2 views

  • Technicians with highly specialised skills
  • REMAIN ATTRACTIVE TO COMPANIES
  • awyers and businessmen negotiate deals spanning multiple countries across the region
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  • We have to keep the environment conducive for allowing different industries to come and go... Singapore must remain an attractive place to do business for highly specialised, high value-added companies... There's no way of knowing what kind of industries they will be in. MR SONG SENG WUN, CIMB Private Bank economist
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    Really cool ideas being shared on how a modern city-state can develop its economy.
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    Interesting to see how just the geography of a country can shape its economic growth and international trades importance. Also how improving internal infrastructures affect international trade and domestic econmies.
alexamikataga

Brazil faces political, economic chaos with an 'uncertain future' - 2 views

http://www.theglobeandmail.com/news/world/brazil-faces-political-economic-chaos-with-an-uncertain-future/article25892042/ Economic Damage in Brazil--66% of people believe Congress should remove Ms...

started by alexamikataga on 29 Sep 15 no follow-up yet
alexamikataga

Catalan Separatists Win Narrow Majority in Regional Elections - 0 views

started by alexamikataga on 28 Sep 15 no follow-up yet
Gregory Freiberg

The cracks in China's engine - 0 views

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    When I normally think of China's vast economic growth, I have a negative image ingrained in the back of my mind. This image surrounds the ideas of the environmental degradation, the unsafe working conditions, and the fact that they are by far surpassing the United States. However, China's economic prowess has lifted 500,000,000 people out of poverty. But, it is still not perfect: China's economy depends heavily on exports to global economies thus, when these markets experience recessions China is affected. The 2008 United States Recession had a significant impact on China's fiscal success. It is suggested that China is not yet stable. Because the Communist Party is largely in-control of the government, the nation is experiencing political, social and strain. The workers are also beginning to speak out. It is interesting to watch as China rapids morphs more and more of itself into a massive economic and industrial powerhouse.
dredd15

French Cabinet is Dissolved, a victim of austerity battles - 0 views

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    Political instability is evident in France as the cabinet fell apart over questions regarding the financial crisis of France and the overall economic downslide of the euro over the last 5 years. The Prime Minister Manuel Vall called for the dissolvement of the cabinet after President Hallonde made changes to economic regulations based on the urges of the European Union, German leaders to be specific. The big question regarding the European economy is whether government budget cuts and deficit financing is more important or finding a way to get cash flowing and creating jobs for citizens is more important. Many of the nations of the eurozone initially bought into the policies of austerity policies that Angel Merkel, the German chancellor, advocated, but now they're pulling back their restrictions and some economic growth is occurring. France and Germany, the largest economies in Europe are at odds and France's shift towards the right-wing National Front. France, as a part of the European Union, has pressure to do follow orders and maintain relationships with other European powers rather than do what's exactly right for their citizens. Political instability of France, unemployment, budget cuts, and debt-financing.
sadmokom

UN Security Council lifts Eritrea sanctions, arms embargo - Quartz Africa - 0 views

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    sorry im late to this but the economic sanctions on my country have finally been lifted!
Kay Bradley

Georgism - Wikipedia - 1 views

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    "Georgism and environmental economics" "Herman E. Daly"
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