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The fall of commodity prices can only be down to one thing: macroeconomic factors

Why are commodity prices falling?

The fall of commodity prices can only be down to one thing: macroeconomic factors

Oil prices have plummeted 40 percent since June – good news for oil-importing countries, but bad news for Russia, Venezuela, Nigeria, and other oil exporters. Some attribute the price drop to the US shale-energy boom. Others cite OPEC’s failure to ag...

It's not just Russia's economy that's dwindling; its soft power is at stake

Putin’s rules of attraction

It’s not just Russia’s economy that’s dwindling; its soft power is at stake

Russian President Vladimir Putin’s covert aggression in Ukraine continues – and so do Western sanctions against his country. But the economy is not all that is under threat; Russia’s soft power is dwindling, with potentially devastating results. A ...

As Japan steps up its quantitative easing efforts, others are following

The return of currency wars

As Japan steps up its quantitative easing efforts, others are following

The recent decision by the Bank of Japan to increase the scope of its quantitative easing is a signal that another round of currency wars may be under way. The BOJ’s effort to weaken the yen is a beggar-thy-neighbor approach that is inducing policy re...

2015 will be one of our greatest opportunities to change the world

2015: the year of sustainable development

2015 will be one of our greatest opportunities to change the world

The year 2015 will be our generation’s greatest opportunity to move the world toward sustainable development. Three high-level negotiations between July and December can reshape the global development agenda, and give an important push to vital changes ...

Fight like a butterfly: the folly of trying to predict the market

The butterfly effect and efficient market hypothesis: right for the wrong reasons

Fight like a butterfly: the folly of trying to predict the market

“Prediction,” the great physicist Niels Bohr is said to have once observed, “is very difficult. Especially when it concerns the future.” In science and economics, our lack of ability to foresee the future has traditionally been attributed to two t...

EU pay-cap is affecting banks’ ability to hire high-performing and compliance-savvy employees

EU variable pay regulation is hurting banks’ risk management

EU pay-cap is affecting banks’ ability to hire high-performing and compliance-savvy employees

The Capital Requirements Directive IV, which has placed a cap on variable pay in the EU’s banking sector, is weakening many banks’ efforts to manage performance and risk through pay. Recent studies have shown that in an effort to remain competitive in...

Immigration panic and economic collapse are boosting Europe's far-right

Should Europe’s moderates fear the far-right?

Immigration panic and economic collapse are boosting Europe’s far-right

In the aftermath of the eurozone crisis, it is perhaps unsurprising that waves of smaller, more radical political parties are gaining greater influence throughout Europe. In May’s European election, many parties that have long been considered extreme in...

Are BRICS ready to lead on topics such as economic governance and climate change?

Is it too soon for BRICS economic leadership?

Are BRICS ready to lead on topics such as economic governance and climate change?

Since the global financial crisis, debates on the future of global economic governance have been particularly sharp. Entrusting global economic governance to the G20 in order to include emerging powers has been marked as a milestone in international polit...

The Fed's stimulus programme acted as an economic placebo. It’s time to let it go

Fed says goodbye to stimulus package

The Fed’s stimulus programme acted as an economic placebo. It’s time to let it go

The US Federal Reserve is on the cusp of something big after nearly two years of propping up the American economy’s recovery with an aggressive fiscal stimulus policy. But Janet Yellen, the new Chair of the Fed, has ruled that enough is enough. The move...

Unconditional basic income is no worse than quantitative easing

Could UBI be the answer to filtering money into the economy?

Unconditional basic income is no worse than quantitative easing

Unconditional basic income is a hot topic at the moment. The people of Switzerland, for example, are currently preparing for a national referendum on whether they should pay themselves a yearly income of CHF 30,000 (about £20,000), even if they don’t w...

Infrastructure developments are being stifled by political ambition

Pleasing the electorate means killing infrastructure developments

Infrastructure developments are being stifled by political ambition

[caption id="attachment_23266" align="alignnone" width="1024"] London’s Crossrail is the largest transport and infrastructure project in Europe, but took 60 years to get government approval[/caption] For most modern democracies, getting even the most...

The principles behind Bitcoin make it as 'real' as any other major currency

Bitcoin: reality or illusion?

The principles behind Bitcoin make it as ‘real’ as any other major currency

Is Bitcoin real money? Not according to Alan Greenspan, who recently described the entire phenomenon as a ‘bubble’. The People’s Bank of China concurred that it isn’t a currency with ‘real meaning’ and backed that up by banning financial compa...

Secular stagnation need not be a threat, but an impetus to re-evaluate economic models

The threat of secular stagnation

Secular stagnation need not be a threat, but an impetus to re-evaluate economic models

Former US Secretary of the Treasury Larry Summers has been doing the publicity rounds lately – talk shows, radio interviews and op-ed columns all over the world. Summers is a man on a mission. Not fighting crime or ending world hunger, the former Secret...

Regulatory mafia could destroy Europe's economic recovery

Too much regulation will hurt Europe, as well as the banks

Regulatory mafia could destroy Europe’s economic recovery

When BNP Paribas was recently asked to pay a record $8.9bn fine for having breached US sanctions against countries like Cuba, Sudan, Iran and North Korea, it sent shockwaves through the global financial industry. For the first time ever, a bank is facing ...

It's time for economists to come out of denial and embrace new ideas

Is economics in a state of denial?

It’s time for economists to come out of denial and embrace new ideas

One of the greatest talents of the human race is our capacity for denial. Without the ability to deny reality, it could be hard to make progress. Yet by ditching out-dated values on efficient markets, new ideas could bring a fresh perspective and realism...

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