More in Global Economy


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Alfred Marshall: Not Competition, But Deliberateness and Freedom

A common complaint against economists is that their theories place an emphasis on competition, when instead they should encourage cooperation and altruism.

2 months

Recession May Already Be Here

The debate about recession risk is pointless. 

2 months

Technology and Job Categories in Decline

There’s a widespread concern that the spread of new artificial intelligence technologies might cause substantial job loss in certain areas.

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Sri Lanka: Central Bank Economic Stimulus Terminal Amid Hyperinflation

As Sri Lanka devolves into economic uncertainty amid hyperinflation, it is important to explore possible paths towards long-term stability.

2 months

Some Economics of Blockbusting

Blockbusting was made illegal in 1968.

2 months

Pandemic Policy: Is It Better To Support Jobs or Workers?

America has experienced five waves since the start of the pandemic.

2 months

Global Food Crisis: Agricultural Subsidy & Food Security

Countries with stable food security have a well-fashioned agricultural subsidy policy.  Agricultural subsidies have a large part in shaping production and consumption patterns, with potentially significant effects as regards poverty, food security, nutrition, and other sustainability concerns such as climate change, land use practices and biodiversity. Subsidies work, their effectiveness are stability shoulders for agriculture — anywhere in the world. There is often volatility in the commodities market, but countries with serious agricultural policies ensure that certain necessities for farmers must not fail. There are some countries with political, environmental, social and several other situations, where the only lifeboat is food aid. However, without those problems, some countries should have no business with food insecurity or food crisis, if they had their subsidy programs set in stone. What do farmers need? Land, seeds, irrigation, fertilizers, pesticides, farm equipment and transport to market. Which of these can be provided for cheap or totally free, to farmers planting one or two crops of their staple food? Though it is reported that the earth has lost a third of its arable land, some rural areas of some countries still have some useful farmland. For the rest of these necessities, which ones can be made available to farmers consistently, so that no matter the upheaval it could be provided? If this is figured out by the country, how does it pay for itself, sustainably without necessarily relying on government budget or foreign intervention? A non-enforced contribution system, in a public-private program would be potent in delivering for them the means to pay for subsidies to work in the country. Some countries lack potable water, so fixing irrigation could become a mean, but irrigation may have to go with something else, to have prices of that crop come down low enough to allow anyone to afford that food. Global hunger is an emergency in many places, but self-sustaining agricultural subsidy holds hope for the people.

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