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Poverty and the Ease of Doing Business

s usual, I was reading an article in The Economist, when I saw a statement that I so very often see in international development news stories: Ethiopia’s doors are not all swung wide open to foreign investment, but rather opened selectively. The regime of Meles Zanawi, the prime minister, is ideological and authoritarian: the ruling … Continue reading Poverty and the Ease of Doing Business

There Is No ‘Competitive Economy’ On/Off Switch

As anticipated by many observers, elections in Greece ended in stalemate as many Greeks elected to support the Coalition of the Radical Left and other anti-austerity parties over that the two traditional parties, New Democracy and PASOK. One of the bailout conditions that the leader of the Coalition of the Radical Left, Alexis Tsipras, refuses to … Continue reading There Is No ‘Competitive Economy’ On/Off Switch

It’s (Rarely) the Government’s Fault

As the U.K. slipped into a technical recession - two quarters of negative GDP growth - the media, industry, and opposition parties were quick to pounce on the U.K. government austerity measures. Either they blamed the U.K. government for the slowdown outright, or suggested that austerity during an economic slump are foolish. The data says … Continue reading It’s (Rarely) the Government’s Fault

Across the Eurozone, Citizens Vote Out Austerity Governments

World stocks continue to oscillate with every bond sale and finance minister utterance in the 17 member Eurozone. Yet, the underlying reality is that the situation hasn't changed at all. Matthew O'Brien has a nice summary in The Atlantic. It's tragicomic. Southern Europe already has an unemployment crisis. Their depression-levels of joblessness are a dagger … Continue reading Across the Eurozone, Citizens Vote Out Austerity Governments

The Canadian Mint Has Unveiled the Blueprint of a Bitcoin Successor

The Bitcoin currency - an online, anonymous currency, 'mined' by computing power - was fraught with problems from the start. Bitcoin's supporters champion that it's 'safe from the instability of fractional reserve banking'. Hardly. Bitcoin has proven to be a volatile currency, with only a tiny market for goods and services, no available deposit insurance, … Continue reading The Canadian Mint Has Unveiled the Blueprint of a Bitcoin Successor

The Great Manufacturing On-shoring

Tim Worstall at Forbes brings up an important point about the recent increases in wages and working conditions in China for major American tech companies. These manufacturers would allow wages and conditions to stagnate to maintain a competitive cost edge over other firms, but the inevitable Chinese labour shortages have increasingly given employees the upper … Continue reading The Great Manufacturing On-shoring