On Dec 5 the Wall St Journal ran an an interesting piece about an attempt by some academics to calculate the cost to the economy of the uncertainty in government policy. As the Journal notes: With the election over, the focus is back on figuring out just how much uncertainty actually hurts an economy. It
I recommend a read through this post on the myth of austerity in Europe by Philip Bagus, a professor at Rey Juan Carlos University in Spain: http://mises.org/daily/6289/The-Myth-of-Austerity It is a lucid restating of the classic Austrian argument against artificial interventions in recessionary market clearing mechanisms.
There is a fascinating story in today’s FT about the increase in foreigners taking up the UK’s offer of a UK passport in exchange for 1M pound investment. As the piece notes: “The number of wealthy migrants entering the UK on specialist visas designed to attract millionaire investors jumped by over three-quarters last year, led
I just posted a new piece on HBR.com on SC Risk. It’s a short summary of my point of view on how SCRM needs to change its approach radically. Read full post here: http://blogs.hbr.org/cs/2012/11/why_quants_should_manage_your.html?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date
Interesting piece in FT today by Jillian Tett about musings in Finland over running a parallel currency. Notes the FT: In the past couple of years, as the eurozone woes have unfolded, international investors have been transfixed by one small country on the edge of the region: Greece. They would do well to keep watching another
FT runs story on continuing slow down in China metals and mining, which marks to what I am seeing across the board in my client work. Notes the FT: “Asian stocks fell on Monday, with Chinese indices losing ground as mainland markets reopened after a week-long holiday to a sell-off in metals and mining stocks.
BBC.com ran an interesting piece on September 18 by Dave Harvey on the recent creation of a new local currency in Bristol, England: the “Bristol Pound.” Notes Harvey: “The city of Bristol has launched its own currency, which cannot be used in Bath, never mind Berlin or Bombay. More than 350 firms in the city have
FT notes today that Toyota is cutting volumes headed into China due to unrest: “Toyota Motor is cutting production of vehicles for the Chinese market in a sign of the deepening economic impact of anti-Japanese demonstrations that swept the country this month. The carmaker’s decision underscores the risk of lasting fallout for businesses from the maritime
More on Foxconn riot in today’s NYT: “Labor unrest in Taiyuan, in northern China’s Shanxi province, comes as strikes and other worker protests appear to be increasing in frequency in China this year compared to last year, said Geoffrey Crothall, spokesman for the China Labor Bulletin, a nonprofit advocacy group in Hong Kong seeking
Does a labor time bomb lurk beneath the surface of the glossy new millionaires in China? See this interesting note in Slate today about the recent unrest at a Foxconn plant: http://www.slate.com/blogs/moneybox/2012/09/24/foxconn_riot_chinese_factory_disruption_just_the_highest_profile_sign_of_growing_labor_unrest_.html?wpisrc=newsletter_jcr:content Key quote: “Conditions in contemporary China have much more in common, structurally speaking, with conditions during the heyday of Western labor activism than