After the Pandemic, Will There Be a New Status Quo?

April 07, 2020

Yesterday, The Daily Devil’s Dictionary highlighted the battle that is beginning to shape up in the media and in political circles around whether a return to a real or imaginary pre-pandemic status quo is possible. Most commentators in the West understand that the status quo they refer to...

The G20 Needs to Show Leadership to Fight COVID-19

March 30, 2020

It is welcome news that the G20, representing the world’s biggest economies and 90% of global GDP, met via teleconference on March 26 to discuss the health and economic crisis caused by the novel coronavirus, which leads to the COVID-19 disease. It has been obvious for several weeks that...

The COVID-19 Crisis Will Change Policymaking and Business

March 23, 2020

Last week, I looked at some real economy and financial channels that the coronavirus pandemic has disrupted across the world. A global recession is now a foregone conclusion, and it will have emanated from the harsh impact on the economy. On the one hand is the supply side, with production...

Stock Shock: What Lies Ahead for Global Markets?

March 14, 2020

Uncertainties continue to multiply over the coronavirus outbreak. US investors saw stock values plunge nearly 20% in the past three weeks. Cases of COVID-19, the new coronavirus, are proliferating outside China. To add to the bedlam, during last weekend a price war broke out between...

Branko Milanovic: An Ideologist of Inequality

December 12, 2019

Branko Milanovic is a serious, highly-respected economist specialized in the analysis of income inequality. He is also an innovator. His book, “Global Inequality,”  has played a significant role in pushing the science of economics toward what its author calls “a new heterogeneity and...

Innovation Is Not About Lone Geniuses and Free Markets

December 05, 2019

Wired magazine dares to challenge and deconstruct one of the media’s and the Western world’s dominant memes about the economy. The article introduces its readers to Italian-American economist Mariana Mazzucato, who recently launched a frontal attack on modern capitalism’s favorite fairy...

The World This Week: Global Economy in Trouble as Markets Tumble

January 24, 2016

The sharp fall in markets worldwide indicate that rising prices induced by the munificence of central banks can no longer keep going up. On January 20, markets tumbled from Tokyo and Dubai to London and New York. Three concerns torment investors. First, the slowing Chinese economy terrifies...

The World This Week: Is Global Recession Around the Corner?

September 19, 2015

The Fed does not raise interest rates and sends shivers down markets as the risk of a global recession becomes real. Markets have tumbled after the US Federal Reserve (Fed) decided not to raise interest rates on September 17. It declared that “recent global economic and financial developments...

An Unseen Revolution in Indian Manufacturing?

November 02, 2013

Competitive pressure is forcing a transformation of Indian manufacturing. By George Wyeth As China turned itself into the manufacturing center of the world over the past decade, many expected India to follow – but it never happened. The Indian economy did take off, but largely in services...

What China’s Cash Squeeze Means for the Global Economy

July 27, 2013

The impact of financial sector reform in China will be far-reaching. On Wednesday, June 19, US Federal Reserve chairman Ben Bernanke announced that the US central bank planned to end its five-year quantitative easing program later in 2013, when the US economy is expected to pick up. That day, the...

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