Friday, September 19, 2014
  1. Great Cities and Ghost Towns

    Andrew Sheng

    Great Cities and Ghost Towns

    & 1

    &  point out that China's excess infrastructure capacity is necessary for economic modernization.

    Ghost City China mikecornelus/Flickr

    Many observers tend to regard the rise of unoccupied modern “ghost towns,” funded through risk-laden local-government financing vehicles (LGFVs), as symptoms of China’s coming collapse. But this view underestimates the inevitability – indeed, the necessity – of such challenges on the path to development. READ MORE

  2. Piketty’s Missing Rentiers

    Jeffrey Frankel

    Piketty’s Missing Rentiers


     says that inequality is rising, but not for the reason Thomas Piketty has given.

    Rich and poor on street Ice Man/Flickr

    Thomas Piketty predicts that interest rates will rise substantially above the growth rate, capital will accumulate, and the rich will get richer through inheritance and capital income, rather than through outlandish salaries and stock options. But unearned income is not what is driving the current rise in inequality. READ MORE

  3. The Economics of Violence

    Bjørn Lomborg
  4. Revamping Europe’s Tattered Social Contract

    Kemal Derviş

    Revamping Europe’s Tattered Social Contract


     explains why structural reforms cannot ignore the social, historical, and political context.

    Man on bench europe Paolo Margari/Flickr

    Europe's economy needs deep supply-side reforms, so that fiscal stimulus translates into sustainable long-term growth, not just temporary spurts and further increases in countries’ debt ratios. But too many call for structural reforms without specifying their content or considering the social, historical, and political context. READ MORE

  5. The G-20 to the Rescue?

    Wayne Swan

    The G-20 to the Rescue?


     calls for the upcoming Brisbane summit to abandon business as usual.

    G20 meeting Australia G20 Australia 2014/Flickr

    The G-20’s upcoming meeting in Brisbane, Australia, comes at a time when a precarious global economy requires big decisions to be made. But it is far from clear who will provide the decisive voice needed to set a bold agenda – and then shepherd its implementation. READ MORE

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