Notes for currency wars: The trilemma of international finance

19th June 2012

On being a liberal economics blogger

Noah Smith thinks that politicization is a big problem – maybe the big problem – with economics. "People believe theories not because the evidence solidly supports those theories, but because the policy implications support the goals of their tribe." Noahpinion

 

Notes for currency wars: The trilemma of international finance

Despite their best efforts, Japan, Switzerland, and China are set to learn that the so-called ‘trilemma' of international finance – which  maintains that a country cannot simultaneously peg an exchange rate, maintain an independent monetary policy, and permit free cross-border financial flows – still holds true. Vox Eu

 

Greece > China

This article points out that Greece was able to achieve something that China's policymakers still worry about pulling off themselves – escaping the "middle-income trap" – the tendency for fast-developing countries to slow dramatically when their per capita GDP reaches middle-income levels. The Economist

 

The Gospel of Growth

Written ahead of this week's G-20 meeting in Mexico, Julia Gillard, the Prime Minister of Australia and Lee Myung-bak, President of the Republic of Korea, call on its members to chart a path toward strong, sustainable, and balanced economic growth. Project Syndicate

 

Infographic: Biggest Bailouts of the 21st Century

From the subprime crisis that rocked the US in 2007, to the disorderly eurozone debt crisis, we've seen a slew of bailouts in the past few years. Check out this infographic to see who makes the list of the biggest bailouts in recent memory. Economy Watch

 

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