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Blogs - Jun 2013

Inequality on the Horizon of Need by J. Bradford DeLong
Mon, 2013-06-03 14:10
By any economic measure, we are living in disappointing times. So it is important to step back and remind ourselves that the “lost decade” that we are currently suffering is not our long-run economic destiny – though higher levels of inequality and relative poverty certainly could be.

All Quiet on the Currency Front by Jeffrey Frankel
Thu, 2013-06-13 14:34
The term “currency wars” is a catchy way of saying “competitive devaluation,” and, in the wake of the sharp fall in the value of the yen, the issue is certain to top the agenda at the G-8’s upcoming summit in Northern Ireland. But should it?

The Contradictions of System Stability : One Asian View by Andrew Sheng
Mon, 2013-06-24 16:23
The common trait that we find at both national and global level is the collective action trap , the polarization of views in the face of uncertainty as to outcomes, the costs of alternative options and perceived inequities and fairness in the distribution of gains or losses. Society at the national and global level cannot agree on common goals, common processes or structures, let alone common tools. Each reform initiative is like a repeated Battle of the Somme, whereby both sides throw huge r esources and energy with large collateral damage and no perceived results.

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