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Friday, 29 August 2014

Columns

Edward Hadas

Edward Hadas: Central bankers' reward for failure

28 August 2014

The supervisors who gathered last weekend in Wyoming were seen as saviours, or as possible destroyers, of a fragile financial system. That elevated status is an undeserved prize. As Keynes noted, economists are more like dentists. But central bankers lack the dentist’s toolkit.

Edward Hadas

Edward Hadas: Time to retire unemployment

20 August 2014

The world’s central bankers are discussing “labour market dynamics” at this week’s annual Jackson Hole conference. A good place to start is with the most widely-used monitor, the unemployment rate. It is well past its sell-by date. A “bad job index” would serve a better purpose. 

Edward Hadas

Edward Hadas: Illiberal economics is here to stay

15 August 2014

The majority of voters in Russia, Turkey and Hungary have all endorsed governments run by charismatic and bullying strongmen. China seems to be getting more authoritarian too. The economic problems with these arrangements are large. But that doesn’t mean the systems are doomed.

Andy Mukherjee

India in depth: Modi's payoff from labour reform

14 August 2014

Previous governments have been fixated on capital markets. But it’s unreformed employment laws that have stunted productivity gains. Now Narendra Modi is cutting the red tape that discourages hiring. If he succeeds, the economy’s potential growth will be higher.

Rob Cox

Rob Cox: Ushering Eric Cantor to revolving door

07 August 2014

The summer parlor game from Wall Street to K Street to Meadow Lane in the Hamptons is guessing where the former U.S. House majority leader will work after decamping from Congress. It’s easy to imagine how a recruiter might try to put his experience to good – and lucrative – use.

Edward Hadas

Edward Hadas: Why the global recovery is so slow

06 August 2014

Reducing GDP growth forecasts has become an annual ritual. The main problem isn’t bad monetary and fiscal policy, as the secular stagnation theory claims. Blame the stifling effect of excessive debt and asymmetric modern labour practices. The best cure is to focus on jobs.

Edward Hadas

Edward Hadas: Not all banks are alike

30 July 2014

Ideology and intellectual laziness have led politicians and regulators to think of banks solely as profit-maximising institutions which only pretend to care about the future. History, solid analysis and the thriving of state investment banks tell quite a different story.

Rob Cox

Rob Cox: MetLife CEO should revel in his anonymity

29 July 2014

That almost no one knows ol’ so-and-so is good for shareholders. How he handles the mega-insurer’s likely designation as a systemic threat could change that. A Jamie Dimon-style fight would be foolish. Better to speak softly and keep the name Steve Kandarian out of headlines.

Hugo Dixon

Hugo Dixon: Euro crisis is sleeping, not dead

28 July 2014

The euro zone is suffering from stagnation, “lowflation,” unemployment and debt. It’s not well placed to weather shocks, such as a further deterioration of relations with Russia. A pact to boost inflation and ramp up structural reform is the best way to insure against disaster.

Edward Hadas

Edward Hadas: Growth in a rich and crowded world

23 July 2014

Has the global growth rate slowed? The debate is hot and not very illuminating. Reported numbers prove nothing and historical analysis is often confused. As more material desires are met, there is less room for big leaps forward. But don’t write off the human imagination.