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Climate Summit 2021: President Joe Biden Announces the United States Will Aim to Cut Carbon Emissions by as Much as 52% by 2030
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More in Global Economy
The Next Wave of Debt Monetization Will Be A Disaster
According to the IMF (International Monetary Fund) and the IIF (Institute of International finance) global debt has soared to a new record high. The level of government debt around the world has ballooned since the financial crisis, reaching levels never seen before during peacetime. This has happened in the middle of an unprecedented monetary experiment that injected more than $20 trillion in the economy and lowered interest rates to the lowest levels seen in decades. The balance sheet of the major central banks rose to levels never seen before, with the Bank Of Japan at 100% of the country’s GDP, the ECB at 40% and the Federal Reserve at 20%.
- 4
Revisiting the Industrial Policy Question in East Asia
Many of the world's main economic growth success stories are clustered in east Asia, including Japan, South Korea, Taiwan, Malaysia, Singapore, and now of course China. Of course, everyone wants to claim credit for success stories: in particular, it's clear that the governments of these countries have often intervened in their economies, and so they are commonly cited as examples of how "industrial policy," rather than just a "free market," is needed for rapid growth. Reda Cherif and Fuad Hasanov resurrect these arguments in "The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy" (IMF Working Paper WP/19/74, March 2019)
- 4
How Millennials are Struggling in the Modern Economy
The "Millennials" are commonly defined as the generation that grew up and came of age in the opening decades of the 21st century: that is, those born from approximately 1981 to 1996.
- 4
Lessons From Japan’s Monetary Experiment
A recent article in the Financial Times, “Abenomics provides a lesson for the rich world“, mentioned that the experiment started by prime minister Shinzo Abe in the early 2010s should serve as an important warning for rich countries. Unfortunately, the article’s “lessons” were rather disappointing. These were mainly that the central bank can do a lot more than the ECB and the Fed are doing, and that Japan is not doing so badly. I disagree.
- 6
Production, Use and Fate of All Plastics Ever Made
Back in 2005, the American Film Institute released a list of the 100 most memorable and lasting bits of film dialogue of all time. The first two, for example, were ""Frankly, my dear, I don't give a damn" and "I'm gonna make him an offer he can't refuse." Number 41 on the list was "Plastics." from the 1967 film The Graduate, which won Oscars for Best Picture, Best Director, Best Actor (Dustin Hoffman) and Best Actress (Anne Bancroft).
- 5
The Dominance of Peoria in the Processed Pumpkin Market
As I prepare for a season of pumpkin pie, pumpkin bread (made with cornmeal and pecans), pumpkin soup (especially nice wish a decent champagne) and perhaps a pumpkin ice cream pie (graham cracker crust, of course), I have been mulling over why the area around Peoria, Illinois, so dominates the production of processed pumpkin.
- 5
Workplace Wellness Policies: Disappointing Evidence
The idea behind workplace wellness policies is straightforward. Many workers could use a nudge toward adopting healthier lives, including diet and exercise. Employer are paying for health insurance anyway, and also experiencing costs of lower productivity and sick days for their employees. If a workplace wellness program can improve health, it could be a win for both workers and employers. However, a couple of recent studies from this year suggest that such programs don't pay off.
- 3
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