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Our economics correspondents consider the fluctuations in the world economy, in theory and practice
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11 октября, 15:37

Richard Thaler’s work demonstrates why economics is hard

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RICHARD THALER has won the Nobel prize in economic sciences this year for his contributions to behavioural economics. It's a well-deserved prize and a clarifying one, as far as economics is concerned.

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09 октября, 16:43

The Nobel in economics rewards a pioneer of “nudges”

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NOT long ago, the starting assumption of any economic theory was that humans are rational actors who maximise their utility. Economists summarily dismissed anyone insisting otherwise. But over the past few decades, behavioural economists like Richard Thaler have progressively chipped away at this notion.

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22 сентября, 08:31

Bitcoin is fiat money, too

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FINANCIERS with PhDs like to remind each other to “read your Kindleberger". The rare academic who could speak fluently to bureaucrats and normal people, Charles Kindleberger designed the Marshall Plan and wrote vast economic histories worthy of Tolstoy.

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21 сентября, 00:54

The case against shrinking the Fed’s balance-sheet

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AS EXPECTED, the Federal Reserve announced on September 20th that it will soon begin reversing the asset purchases it made during and after the financial crisis. From October, America’s central bank will stop reinvesting all of the money it receives when its assets start to mature.

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01 сентября, 17:43

Is there a wage growth puzzle in America?

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TODAY’S labour market report showed that the American economy created 156,000 net new jobs in August. That was a bit less than expected, but payrolls are still growing comfortably faster than the working-age population.

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04 августа, 23:06

The hubris of ten-year budgets

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IN February of 2001, Alan Greenspan, then still the chairman of the Federal Reserve, and still called the “Maestro”, testified to the Senate Budget Committee. The committee wanted to get started on the tax cuts George W. Bush had promised during his campaign.

19 июля, 16:12

Podcast: Goodbye, Benito

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Brazil’s rigid labour market regulations were transplanted wholesale from Benito Mussolini’s Italy back in 1943. Now President Michel Temer has approved an overhaul. Will it encourage job creation? Also, an exorcist in Paris fighting “bad spirits”. And why President Trump is playing hardball in renegotiating NAFTA.

05 июля, 13:25

Podcast: Vorsprung durch Angst

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Germany is admired for a stable economy and holding on to blue-collar jobs but derided for its persistent trade surpluses. Our economics editor John O’Sullivan examines what Chancellor Merkel’s government might do next. Also, how “total immersion” could drive the masses to virtual reality.

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28 июня, 14:28

Podcast: The Italian bailout job

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Italy has been forced to bail out two banks at a cost of as much €17bn euros ($19 bn). Is that the end of the bleeding in Italy's financial sector? Also, as the iPhone turns ten, we look at how Apple is evolving. And Catherine Mann, Chief Economist at the OECD, tells us how to government can help workers made jobless by globalisation.

14 июня, 16:14

Podcast: A poison chalice for GE’s new boss

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Patrick Foulis asks if a break-up is on the cards as General Electric appoints a new CEO. Also, Uber is on a collision course as it grapples with management problems. Why confidence among European companies is sky high. And tension in global trade in aluminium. Hosted by Philip Coggan.

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12 июня, 18:32

A new paper rekindles a tiresome debate on immigration and wages

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WHAT effect do immigrants have on native wages? It’s perhaps one of the most important questions of labour economics. It's also one that is largely unanswerable. The problem is that it's almost impossible to separate cause and effect.

07 июня, 19:28

Podcast: Super Mario to the rescue

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As the European Central Bank meets in Estonia this week, is it time for Mario Draghi to withdraw support from the Eurozone economy? Emerging Markets Editor Simon Cox on why the BRICs label is still relevant. And, how investors are taking care of the planet. Simon Long presents