Friday, September 4, 2015
  1. Economics

    The Foundations of Greece’s Failed Economy

    Edmund S. Phelps
    Economics

    The Foundations of Greece’s Failed Economy

    2

     blames the country's crisis on policies that reflect dysfunctional values and beliefs.

    greece flag Kostas Pikoulas/ZumaPress

    Too many politicians and economists blame austerity for the collapse of the Greek economy. But the data show neither marked austerity by historical standards nor government cutbacks severe enough to explain the huge job losses; instead, they show economic ills rooted in the values and beliefs of Greek society. READ MORE

  2. Politics

    China’s History Parade

    Rana Mitter
    Politics

    China’s History Parade

    0

     asks what Nationalist WWII veterans were doing at the Communist Party's big military display.

    China 70th anniversary WWII parade Niu Chenghao/ZumaPress

    The huge parade in the center of Beijing on September 3 to commemorate the end of World War II showed that the authorities are preparing the ground to install a new narrative about the war as a central part of Chinese national identity. Is a more inclusive tribute to China’s past a signal of incipient pluralism in China’s present? READ MORE

  3. Business & Finance

    The Art of Capital Flight

    Kenneth Rogoff
    Business & Finance

    The Art of Capital Flight

    0

     explains why the emerging-market downturn is very bad news for Christie's and Sotheby's.

    Metropolitan Museum of New York Nano Calvo/ZumaPress

    For emerging-market investors, art has become a critical tool for moving and hiding wealth, which has been a major factor in the spectacular rise in auction prices of the last several years. So, with emerging-market economies from Russia to Brazil mired in recession, and China slowing rapidly, is the art bubble about to burst? READ MORE

  4. Economics

    Inflation, the Fed, and the Big Picture

    Carmen Reinhart
    Economics

    Inflation, the Fed, and the Big Picture

    7

     argues that the real threat nowadays, especially in the advanced economies, is declining prices.

    balloons Tolga Akmen/ZumaPress

    Inflation was the theme of this year’s international conference of central bankers in Jackson Hole, Wyoming. But, while policymakers are right to prepare for future risks to price stability, they did not place these concerns in the context of recent inflation developments at the global level – or within historical perspective. READ MORE

  5. Economics

    A False Alarm About China

    Shang-Jin Wei
    Economics

    A False Alarm About China

    0

     deflates fears that recent volatility in the Chinese stock market presages an economic collapse.

    china stock market crash Zhengyi Xie/ZumaPress

    The volatility in Chinese equity prices in recent months has more to do with the peculiarities of the country's stock markets than with underlying economic fundamentals. As long as China continues to pursue pro-market reforms, its economy will thrive in the long term. READ MORE

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