7th August 2012
Although policymakers have learnt some lessons from Japan's "lost decade," the lack of fiscal firepower, the long-term costs of government bail-outs and economic stagnation means there are reasons to worry about the next five years. The Economist
"This is the fear that haunts us now, the worry above all worries: Has the golden legend of America – the constantly renewed promise of a better economic future for its citizens – finally reached an end?" Newsweek
Joe Stiglitz says the discoveries of natural resources in several African countries – raise an important question: Will these windfalls be a blessing that brings prosperity and hope, or a political and economic curse, as has been the case in so many countries? Project Syndicate
If low interest rates are the answer…what was the question? This piece argues that interest rates are not the problem, the problem is too much debt to be serviced; this needs to be written off and the economy made more flexible. Capitalists@Work
According to Tim Worstall, it's economically illiterate to insist that companies pay more in taxes because companies do not pay taxes. "They cannot, for only people can bear the burden of a tax: someone's wallet has to get lighter and that wallet must belong to a person." Adam Smith Institute
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