Edward Hadas is Economics Editor at Reuters Breakingviews. He joined Breakingviews in both 2004 and 2011, with a year in between at the Financial Times as Assistant Editor of the Lex column. Before becoming a journalist, he worked for 23 years as an equity analyst in Europe and the US. He has written a book, Human Good, Economic Evils: A Moral Approach to the Dismal Science (ISI Books, 2007), and a course-book about political philosophy for the Maryvale Institute in Birmingham. Edward has degrees from Columbia University, Wadham College, Oxford and the State University of New York at Binghamton. He has a website, edwardhadas.com. Follow Edward on Twitter @edwardhadas
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Poor people often feel rich, the rich think they are hard up, and big income gaps elicit little indignation, says a new multinational study. Income levellers should take note. Accurate economic statistics won’t foment revolt. But perceptions of rising inequality just might.
The standard measure of output is a useful indicator of short-term trends. It can also help compare levels of development. In poor countries, faster GDP growth is a good policy goal. But in richer countries, GDP-think misses important economic changes and challenges.
Blame the first annual decline in the British price index since 1960 on cheaper oil, a stronger pound, a lingering financial hangover or a changing labour market. Like global peers, the Bank of England has had little influence. It will also stand and watch if inflation rises.
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- EU growth surprises hide clear pattern
- Euro zone bond rout breaks whole new set of rules
- Edward Hadas: The great British deficit confusion
- Hedge fund pay hauls a political-financial shame
- Inflation stages a small comeback