Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
- India poised to return to high growth path: OECD (PTI, The Economic Times) While the other three BRIC countries (Brazil, Russia and China) appear to be in below-trend growth rates, the OECD (Organization for Economic Co-operation and Development) says their indicators point to India making a "return to faster growth".
- Calif. court rules teacher tenure creates unequal conditions (Lyndsey Layton, The Washington Post) A Los Angeles Superior Court judge ruled Tuesday that tenure, seniority and other job protections for teachers have created unequal conditions in public schools and deprive poor children of the best teachers. This ruling, if upheld by the Supreme Court where it is likely to end up, would be a major blow to the power of teachers' unions.
- Consumption, Real Interest Rates, And Habit (Robert Waldman, Angry Bear) Hat tip to TalkMarkets. A short and thoroughly well-grounded analytical dissection of the commonly asserted model assuming correlation between high interest rates and high economic growth. In the conclusion:
There is essentially no sign of a high long term correlation between real interest rates and consumption growth, that is no sign that the low quarterly correlation is due to habit formation.
- Obama Cuts Student Loan Costs! Can Broke Grads Be “Saved”? (Mike Larson, Money and Markets) Yesterday, President Obama issued an executive order that will dramatically expand programs aimed at reducing the student loan debt burden. As a result, some 5 million additional borrowers will qualify for a program that limits debt payments to 10 percent of their income. That benefit was previously available only to borrowers who took out their loans after October 2007.
- Young Whale Rescued by Snorkelers Shows Immense Gratitude (Jill Bond, Blue Nation Review) Hat tip to William Kurtz. Watch the efforts of a group of snorkelers to free a young humpback whale entangled in a fishing net in the Sea of Cortez, Baja California. And then watch the amazing display of the whale after she is freed.
- They Never Saw It Coming! (YouTube) Hat tip to Roberta Kruse-Fordham.
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