by Dirk Ehnts, Econoblog101
There is a big debate in monetary theory whether the balance sheets of central bank and government should be shown as one or not. One side argues that the central bank is a government agency, and hence it would not make sense to create a balance sheet for both the central bank and government. Instead, they should be consolidated (see slides by Eric Tymoigne).
Fall in Oil Prices - The Domino Effect on the Stock Exchanges and the Economy Will Not Be Far Behind
by LEAP/Europe 2020, Leap2020.eu
The current fall in oil prices squarely caused by this strategy of despair is in the process of smashing the oil/gas industry. The Ukrainian crisis, far from allowing the West to get its hands on Russia, is in the process of forcing it to rethink its dependence on Europe as a customer for its gas (71).
by Dan Lieberman, Alternative Insight
Protests by British university economic students, whose demonstrations have been backed by prominent academics, highlight the notion that economic education is dominated by theories that defy practical applications and applications that can not predict, prevent or ameliorate periodic crises. Students learn economics from unverified theories, many contradicting each other, which leads to a confused understanding of the discipline and complicates approaches to resolve problems. Adding to the dilemma is that textbooks in Middle Schools, High Schools and universities lack updates with recent knowledge and contain dubious propositions. It is time to examine several propositions that are prominent but seem dubious.
November 29th, 2014
in Op Ed
In 1982 I was toying with the idea of a career in teaching. That year a controversial film, Made in Britain, starring Tim Roth was released and I almost didn’t become a teacher. The film’s central character, Trevor was a dysfunctional, violent, foul-mouthed youth – everything society hates and fears. My natural fear was how would I, as a young teacher, cope with a classroom full of such kids? Of course the film is fictional. It portrayed the 1980s accurately – but did it portray Britain’s youth accurately?