November 21st, 2014
in Op Ed
Written by Sunil Chandra
All the Clamor for a Rate Cut...
As he gets ready to present the Fifth bi-monthly Monetary Policy Statement, Governor Rajan must be wondering about the clamor for an interest rate cut from all corners of the country.
by Peter Drysdale, East Asia Forum
The past week has seen big breakthroughs in Asia Pacific economic diplomacy. At the APEC summit, Xi Jinping and Shinzo Abe broke the diplomatic ice in the China-Japan relationship. The United States and China paved the way towards extending the successful International Technology Agreement through the WTO. They also did a game-changing deal that will entrench deep cuts to carbon emissions through to 2025-30. China brought trans-regional (as opposed to Eastern and Western Pacific) integration back to centre stage in APEC's quest for open regionalism. And in Brisbane, the G20 summit has crafted a global recovery strategy around broad-based cooperation on productivity-enhancing reforms and infrastructure investment, re-focused on the WTO and brought climate change back into play.
by Prof. Ismael Hossein-Zadeh
This appeared originally at Global Ressearch, 12 November 2014.
There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Economic "science" has, indeed, become "an ideological construct which serves to camouflage and justify the New World Order" .
November 19th, 2014
in Op Ed
The biggest open secret in the financial world has been confirmed. Regulators in the UK, the US and Switzerland have announced massive fines for some of the world’s largest banks for a manipulation of global currency markets that in its callous ubiquity says so much about the banking behaviours that sparked the global financial crisis.