More in Global Economy


2 months

Bad Development Ideas

It has been my tradition at this blog to take a break from current events in late August.

2 months

Reconsidering the “Washington Consensus”

About 20 years ago, I found myself (via a story too long and tedious to relate here) part of a small group of economists travelling in South Africa for a week, meeting with various business, government, and academic groups. Within our little group , we each had some topics on which we would focus the first round of our comments. For example, one person talked about how to structure an emerging telecommunications industry, while another talked about barriers to international trade in agriculture. My own role, at least as perceived by the audience, was to be the defender of American imperialist capitalism. And no phrase was delivered to me with quite the same scorn and disdain–and frequency–as “the Washington consensus.”

2 months

Pandemic Recession: By Far the Shortest on Record

In the United States, there is no government committee to set the start and end dates of recessions–for obvious political reasons.

2 months

The End Of The Gold Standard: Fifty Years Of Monetary Insanity

This year marks the 50th anniversary since Nixon suspended the convertibility of the USD into Gold.

2 months

Wealth and Income Inequality: Only a Weak Correlation?

Income refers to what is received in a certain period of time, which is why we refer to “annual income” or “weekly paycheck.”

2 months

Interview with Ayşegül Şahin: Quits and Start-ups

David A. Price has an interview with “Ayşegül Şahin: On age growth, labor’s share of income, and the gender unemployment gap” (Econ Focus: Federal Reserve Bank of Richmond, Second/Third Quarter 2021, pp. 18-22).

2 months

Some Snapshots of US Income Inequality

The Congressional Budget Office has published “The Distribution of Household Income, 2018” (August 2021). It takes a couple of years to pull this data together in a reliable way.