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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Failings in the foreign exchange markets should be surprising, and not only because cheating was hard. But when process-driven clients met the hard-to-repress urge to speculate, tempted traders crossed some ethical lines. The cure? Ensure financial markets make economic sense.
The sharp demand slowdown after a small tax increase shows how sensitive consumption in ageing and rich countries can be. Japan’s lack of immigrants makes it especially vulnerable, but Europe and the U.S. are not exempt. Demand stimulus will always be on the agenda.
The dreary 0.2 pct quarterly increase in GDP is a reminder of the region’s inability to shake off its long-standing malaise. But the news is nowhere near bad enough to spur any of the radical policy changes which might make a substantial difference.
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