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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...

India expected to elect pro-business Modi, despite concerns over his past

History’s biggest election gets underway in India

India expected to elect pro-business Modi, despite concerns over his past

In a process that is expected to last up to six weeks, 814 million Indians have begun voting for a new government. The country’s election represents the world’s largest democratic election – and the biggest recorded in history. It is expected to see...

Strikes in China: gross inconvenience or golden opportunity for labour reform?

IBM strikes shine light on China’s labour laws

Strikes in China: gross inconvenience or golden opportunity for labour reform?

Though the strike at the IBM plant in Shenzhen last week was highly disruptive, it had much wider implications than simply halting production for a few days. The strike, which involved over 1,000 workers, was the latest in a series of walk-outs to hit Chi...

There's 'still a long way’ to go for Britain to make a full economic recovery

Britain: broke and battered, or back for business?

There’s ‘still a long way’ to go for Britain to make a full economic recovery

Vilified though they often are, foreign exchange traders do at least do their homework. And they like what they see in the sterling, one of the world’s oldest currencies. Between August 2013 and mid-January 2014, the British pound improved by eight perc...

Want your bonus? You'll have to wait, says Credit Suisse

Credit Suisse phases out its remuneration scheme

Want your bonus? You’ll have to wait, says Credit Suisse

[caption id="attachment_17494" align="alignnone" width="1024"] Credit Suisse are phasing out their current bonus scheme, and replacing it with two bonus plans that will shift the bank's emphasis onto collective, rather than individual, performance[/captio...

The EC's latest directive on late payments will leave buyers feeling rather neglected

EC’s new late payment directive grossly overlooks the buyer

The EC’s latest directive on late payments will leave buyers feeling rather neglected

[caption id="attachment_17394" align="alignnone" width="1024"] The European Commission's updated directive on late payments is geared towards protecting SMEs, and woefully overlooks the buyer[/caption] After a long consultation period, the European Com...

Is the proposal to restore the 50p income tax rate worth considering?

Ed Balls proposes to reinstate 50p income tax rate

Is the proposal to restore the 50p income tax rate worth considering?

[caption id="attachment_16935" align="alignnone" width="659"] British Shadow Chancellor Ed Balls has proposed to restore the 50p income tax rate, a move that has already attracted considerable backlash, with critics dismissing it as 'populist nonsense'[/c...

There is still time for President Obama to salvage some form of legacy

Can Obama save his legacy?

There is still time for President Obama to salvage some form of legacy

[caption id="attachment_16715" align="alignnone" width="659"] Obama listens attentively during a January 2014 meeting with young people who are helping with healthcare enrolment efforts. The President wanted to hear about their experiences in spreading th...

Is French President François Hollande's socialist dream becoming a nightmare?

Hollande affair: The final blow to France’s socialist dream?

Is French President François Hollande’s socialist dream becoming a nightmare?

Just when this avowed socialist is belatedly taking steps to resurrect a moribund economy and save his presidency, he attracts the wrong kind of publicity by having a clandestine affair with an actress while living in the Elysee Palace, official home of t...

Reports suggest GDP may not be the whole story when it comes to gleaning economic health

GDP: an accurate measure of economic health?

Reports suggest GDP may not be the whole story when it comes to gleaning economic health

One doesn't usually think of the late 1970s as an economic boom time. Unemployment and inflation in the US were at record highs. In the UK, the winter of 1978-79 became known as the 'winter of discontent' because of its widespread strikes, with union lead...

Figures reveal many executives earn more than their CEOs. Are we surprised?

Creative remuneration means execs paid more than CEOs

Figures reveal many executives earn more than their CEOs. Are we surprised?

Traditionally, CEOs have been the highest earning people in an organisation. They do have the most responsibility, after all, and often the most exposure. However, new figures compiled by Business Insider from data available at FindTheCompany has revealed...

Crude economics

At a time when economists are scratching their heads for the answer to the impending recession, Joseph E Stiglitz calls for some pronounced and well-considered theory

The World’s central bankers are a close-knit club, given to fads and fashions. In the early 1980’s, they fell under the spell of monetarism, a simplistic economic theory promoted by Milton Friedman. After monetarism was discredited – at great cost t...

The ‘dismal science’ tag does not seem to apply to the science of forecasting

The future looks (too) bright

The ‘dismal science’ tag does not seem to apply to the science of forecasting

While economics has long been known as the ‘dismal science’, this does not seem to apply to the science of forecasting. With some exceptions – such as the Mayans, or Nouriel Roubini – forecasters, it seems, are just way too cheery and confident. ...

The entire world is waiting for the Kuroda 2+2 experiment to show progress

The world is watching the Kuroda experiment

The entire world is waiting for the Kuroda 2+2 experiment to show progress

The new governor of the Bank of Japan, Haruhiko Kuroda, must spend his entire waking hours muttering “2+2” to himself. That’s because so much depends on whether he can fulfil the formula. His own reputation, the future of prime minister Shinzo Abe a...

Shinzo Abe’s “third arrow” needs a second look, particularly in regards to deflation

The problems with Abe’s third arrow

Shinzo Abe’s “third arrow” needs a second look, particularly in regards to deflation

Considering the slow decline of Japan’s potential growth rate since the 1980s, the announcement of Prime Minister Shinzo Abe’s third economic strategy – which was to focus chiefly on the country’s long-term growth – was expected to be as signifi...

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