10th August 2012
Rising food prices is bad news for the global economy since it can kill growth in two important ways. First, there is a consumption effect (lower income families can't spend as much). Second, there is a policy effect (central banks, fearing inflation, may hike interest rates). TIME
Larry Doyle, a Wall Street veteran, presents his top ten unfinished/untold stories of the recent economic crisis. Unsurprisingly, the Bernie Madoff scandal and the bankruptcy of MF Global make their way on to the list. Sense on Cents
Daniel Hamermesh says like others, economists tend to favour those like themselves. That's the bad news. "The good news is that, where it really matters-in judging scholarly papers for publication-economists are remarkably fair." Freakonomics
Last week, obscure Tory MP Douglas Carswell tweeted, "1976 again. The orthodox approach to the economy is bust." One obvious question: is if this is the 70s, where is the inflation? The Economist
Sanjeev Sanyal argues that we are in the middle of a social and demographic shift that will both destroy and create consumer markets. One obvious question is: who will be at the core of the new consumer landscape? An aging but increasingly middle-class Asia, says Mr. Sanyal. Project Syndicate
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