A tale of two workshops
Left underwhelmed by mainstream economics’ attempts to revolutionise the field, David Orrell found a more radical way of thinking among quantum physicists. Could quantum thinking provide the upheaval economics needs?
Making the case for sovereign GDP-linked bonds
Many argue that GDP-linked bonds are a far stabler alternative to currency-fixed debt instruments. These bonds would be less volatile in times of crisis and would stop the economy’s performance from becoming a direct burden on the taxpayer
Working towards the next economic paradigm
Due to the complacency of policymakers, the economic model embodied in the Washington Consensus has lost its appeal. Without a new paradigm to replace it, the world economy is in a vulnerable position
China’s bold energy vision
China is leading the fight to combat climate change. Its far-reaching vision aims to transform the world’s primary energy sources from carbon-based fossil fuels to zero-carbon renewable energies
The casualties of progress
Although there are arguments regarding the scale of the problem, many are now acknowledging the correlation between technological advances and a decline in worker productivity. What can be done to arrest this trend?
The insignificance of significance
In economics, statistical significance is often conflated with relevance, leading researchers to push data to fit with their theory. A Bayesian approach, instead, expects theories to evolve as data is collected. While this leads to less newsworthy findings, it is restoring statistics’ legitimacy
The dangerous delusion of price stability
Central banks’ fixation on positive but low inflation could bring unwanted repercussions. Governments must stop obsessing over inflation targets and, instead, proactively consider measures to prevent another crisis from erupting
Has China’s economic growth finally stabilised?
The Chinese economy appears to be in fine fettle. However, weakening investment growth and other concerning trends suggest the outlook may not be as auspicious as it seems
Is another debt crisis on the way?
Despite the healthy rate of growth currently being experienced by the global economy, the total ratio of debt-to-GDP continues to climb. Does this indicate the onset of another financial crisis?
A new growth model for Europe’s neighbourhood
The developing economies of Europe previously outperformed emerging economies elsewhere, but the impact of the Recession stalled their growth. A shift towards a future-orientated growth model is required to arrest this decline
The opacity of economics has attributed a quasi-magical quality to the interpreters and doyens of the financial sector. But does the failure to predict or prevent financial crises demonstrate that these powers are fallacious?
Why China’s capital account liberalisation has stalled
In recent years, China’s capital account has swung into deficit, with billions of dollars in foreign exchange reserves going missing. Risky liberalisation is the reason behind this massive capital flight
Why economic growth is no longer enough
Many industries are experiencing an increase in productivity due to the growing capabilities of technology, but low-skilled workers are suffering as a result. In this digital age, we must reassess our idea of what constitutes an economic success story
The fight for Saudi Aramco listing
Banks and stock exchanges the world over are competing to be involved in the listing of Saudi Aramco, but a record-breaking IPO may not be in the best interests of the Saudi Government
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