by EconMatters, EconMatters.com
With another new year upon us mortals, we thought it is time again to check out the top 10 global risks ranked by Oxford Analytica. Not surprisingly, from a geographical perspective, a majority of the top global risks come from the Middle East region (at 40%) and the Asia-Pacific region, specifically China, and North Korea (at 30%). U.S., Europe, and Russia round out the rest.
Source: Oxford Analytica
France is Only as Sick as the Eurozone
Written by Hilary Barnes
The French have done such a good job of convincing themselves that France is the sick man of Europe that commentators in the rest of the world have joined the chorus, but it is an exageration.
France may a bit off colour, suffered a slight chill, but this is nothing to other comparable countries in the Euro zone, such as Spain and Italy, not to mention Cyprus, Portugal, Ireland, Greece and Slovenia.
But they are recovering, says the gloomsters, and France is not, or not yet or not by much.
Written by Dan Flemming
You are going to keep paying for freedom, your concept of American Freedom, the American Brand.
Matter of fact you are going to now be paying more for your freedom, and by the way, we are going to narrow down the definition of freedom with some new carefully worded phrases. There is no contract for you to refer to. It works out better without a contract. That is why we are getting away from the US Constitution. But through our American Institutions we will be crafting the words and definition of freedom... this will be to benefit the people of course. I mean, since we are a government of the people, it follows that we are always working for the people's best interest.
January 9th, 2014
in Op Ed
by Jeffrey Frankel, Jeff Frankel's Weblog
Now that Janet Yellen is to be Chair of the US Federal Reserve Board, attention has turned to the candidate to succeed her as Vice Chair. Stanley Fischer would be the perfect choice. He has an ideal combination of all the desirable qualities, unique in the literal sense that nobody else has them. During his academic career, Fischer was one of the most accomplished scholars of monetary economics. Subsequently he served as Chief Economist of the World Bank, number two at the International Monetary Fund, and most recently Governor of the central bank of Israel. He was a star performer in each of these positions. I thought in 2000 he should have been made Managing Director of the IMF.
January 8th, 2014
in Op Ed
by John P. Cochran
In his The General Theory of Employment Interest and Money, John M. Keynes criticized, without citing or mentioning him explicitly, Hayek's (Austrian) primary policy recommendation: the best way to avoid a bust is prevention. Hayek knew that avoiding the credit-created boom prevents the associated malinvestments and over-consumption while boom-bust cycles will be avoided through prevention or significant reductions in credit creation. Keynes, however, thought differently:
Thus the remedy for the boom is not a higher rate of interest but a lower rate of interest! For that may enable the so-called boom to last. The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and thus keeping us permanently in a quasi-boom.