Antony Davies gives good explanations:
Keywords: Minimum Wage, Regulation
Kewords: US Economy, US Growth, Technology, Productivity
Some observers praise its 'state-led capitalism.' But the truth is that leaders, starting with Deng Xiaoping, loosened Beijing's control. read more
Keywords: China, China and Capitalism, Free Flow of Ideas
Here is an excerpt:
..."The first step would be the elimination of the double mandate. Unlike the European Central Bank, which is in charge only of price stability, the Fed has two main legislated goals: promoting full employment and promoting stable prices.
This gives the Fed too much flexibility, pushing it to substitute for the government in designing economic policy. The temptation to act in this way is particularly strong when Congress is divided and paralyzed. It is precisely this substitution that makes the Fed politically vulnerable. The central bank can be independent or activist; it cannot be both. Independent is better"..
Keywords: Monetary Policy, Central Bank Independence, Fed Independence
Keywords: Government Spending, Spending Other People's Money, Federalism
"Are social networking sites like Facebook, LinkedIn, and Twitter “information monopolies” that should be regulated as public utilities? While calls for social networking regulation are on the rise, there are good reasons why policymaker should avoid the rush and rethink classifying them as “public utilities.” Public utility regulation has traditionally been the arch-enemy of innovation, and this could have lasting effects on such a dynamic industry. Treating today’s leading social media providers as essential facilities threatens to convert predictions of “natural monopoly” into a self-fulfilling prophecy."
Keywords: Social Media Sites, Regulation of Social Media, Public Utilities
Looking at various research dealing with recovery after severe financial crisis (with balance sheets in need of de-leveraging) one would expect that we will go through a period of - in the best case - low growth for still quite some time.
Ezra Klein makes a more positive case in The Washington Post:
Keywords: US Economy, Recovery after severe Financial Crises
America has now had nearly a century of decision-making experience under the Federal Reserve Act, first passed in 1913. Thanks to careful empirical research by Milton Friedman, Anna Schwartz and Allan Meltzer, we have plenty of evidence that rules-based monetary policies work and unpredictable discretionary policies don't. Now is the time to act on that evidence. read more in the WSJ
Keywords: Monetary Policy, US Fed, Interventionism
Milton Friedman looks at the rarity of free societies and the dynamics that work against them.
Keywords: Freedom, Tyranny, Democracy, Market Economy
March 16, 2012
Keywords: European Crisis, Debt Crisis, Greek Crisis
Prof. Bernanke tries to convince Americans of the monetary policy actions through lectures:
Keywords: Monetary Policy, US Economy
When doing valuations and calculating the WACC, experts might have to look at another definition of the "risk-free rate". Risk is always involved when action is taken, also on the government level - as we have impressively observed during the financial crisis. Jason Voss proposes to rename the concept of the “risk-free rate of return” to the: Lowest-available-risk expected rate of return.
It is worth to read following article:
Keywords: Valuation, Sovereign Bonds, Risk-Free Rate
Interesting report on de-leveraging after financial crises:
Keywords: Financial Crises, De-Leveraging
Recovery after financial crises, research by Reinhart and Rogoff and Goldman Sachs:
Keywords: Innovation, Creative Destruction, Economic Development
Keywords: Europe, European Crisis, Spain
Nice explanation of fiscal and monetary policy. For non economist. For example owners of real businesses who more and more have to try to anticipate future government action when defining their strategies:
Keywords: Fiscal Policy, Monetary Policy, Interest Rates
Steven Horowitz compares a city where all traffic lights are on green with a situation where a heavy expansionary monetary policy gives the wrong signals to the market:
When traffic signals don’t tell the truth, in this case that the cross-traffic has stopped, even the most rational, cautious drivers will get into accidents at intersections. He is stunned that the TV commentators can’t see this. In despair he goes back to sleep, hoping it was all a dream.
Keywords: Signals to the Market, Market Prices, Interest Rates, Economic Incentives, Monetary Policy
As countries around the world struggle to lay the foundations for stronger sustainable growth in the future, they would do well to focus on policies that encourage innovation. Empirical studies across time and countries confirm that innovation is the primary source of technological change and productivity growth. And investments in research and development, as well as in the scientific and engineering workforce on which they depend, are critical drivers of innovation and national competitiveness.
A new study by the National Science Board, the governing body of the National Science Foundation in the United States, examines trends in such investments for both individual countries and regions. These trends indicate that the global landscape for innovation changed significantly during the last decade. read more on Project Syndicate
Keywords: Innovation, Global Competitiveness, R&D Spending, Education
Keywords: Institutions, Capitalism
Keywords: US Economy, US Manufacturing, US Service Sector
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