Do falling markets and tighter liquidity signal a new Great Depression?

This seems a surprising prospect at the moment, but according to Telegraph.co.uk this morning, Andrew Roberts, head of European rates strategy at RBS, said: “Great Depression II” could now be approaching; adding: “It now has the potential to speed toward its conclusion; a European $1 trillion package which does little and political panic tells you we are about to reach … Continue reading

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“Near to impossible” to achieve all Millennium Development Goals

UNCTAD Secretary-General Supachai Panitchpakd, Secretary-General of Unctad, said in opening the organization’s symposium in Geneva yesterday that since the crisis hit in 2008, some 53 million people in the developing world have fallen below the poverty line “and more than 100 million additional people are going hungry.  These numbers are not moving in the right direction.” “Prior to the crisis, … Continue reading

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Is the “invisible hand” still relevant?

Adam Smith first talked about the invisible hand in the Wealth of Nations, expressing the view that by and large, competitive markets that are relatively free of government guidance do a better job of allocating resources than occurs when governments play a dominant role. Stephen LeRoy, professor at the University of California, opens with this well-known economic premise in his … Continue reading

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