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The World this week with ESSA


ESSA Publications

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September 16th, 2012


The contrasting impacts of technology in Europe and Asia, and the Fed takes action.


The world this week with ESSA

Hand picked selection of economics content from around the web. This week, a special series on growth, US election Coverage, Quantiative Easing plus its affects on the Australian Economy.

ESSA, 16 September 2012

– World Economy

Technological and economic growth:

Can Technology save Europe’s Economy? – ABC

Nowadays it seems only negative news comes out of the European economy: Mounting debt by peripheral countries, unemployment levels off the charts and talks of a break up of the Euro.  Amongst all this, could using the internet to modernise European economies provide a solution?

How technology is killing the Asian growth miracle – Financial Times

If the world economy is a zero sum game in the short run, then someone hast to lose out if technology is the solution to Europe’s problems. A recent UBS research reports has produced some frightening predictions of how technology will affect the future of Asian market dynamics, and not in a good way.

Is US economic growth over? – VOX

Global growth is slowing – especially in advanced-technology economies. This column argues that regardless of cyclical trends, long-term economic growth may grind to a halt. Two and a half centuries of rising per-capita incomes could well turn out to be a unique episode in human history.

US Election Coverage:

Fiscal cliff: Congress weighs another round of kick the can – Politico

American partisan politicians and lawmakers seem to be determined to prevent any change suggested by the opposition from taking place regarding the major issues in the US fiscal position. Hear the thoughts of various senators on what the US Congress will actually be able to achieve and when.

The Queen’s Speech – Core Economics

Following Michelle Obama’s speech at the Democratic National Convention in the US two weeks ago, some are claiming that she could even be the next presidential candidate in 2016. But is the system of deciding presidents in the world today very efficient from an economists’ point of view? Why do leaders have to quit their jobs after 4 years, and why can’t a good leader in a different country take on a job of being the leader of another country at the end of their office? Find out more in a through discussion on the ‘market’ for leadership.

Here in Australia

Australian Dollar Rockets on US Fed action – The Australian

The Australian dollar has climbed to a four week high (Currently at $1.0550 AUD/USD at time of writing) following a third round of ‘Quantitative Easing’ action being taken by the US Federal reserve. The weakening of the US currency and strengthening of the AUD is creative headache for policy makers as the fall in commodity prices could spell trouble for the Australian economy.

Premier says mining will sustain the economy – ABC

Colin Barnett, the West Australian Premier, has played down the impact of falling iron ore prices on the Australian economy. He told a business conference in Sydney that the impact of the mining industry should not be exaggerated or blamed for other economic problems in Australia.

For your interest

Vandy Bro Sends Epic Email to Econ Professor Asking for Advice in Love Life – Bro Bible

An economics student at Vanderbilt university decides to ask his professor about the economic costs and benefits of dating. The ‘bro’ professor dispenses advice as only an economist can and hilarity ensues.

The Quantiative Easing Song – By Curtis Threadneedle

VIDEO Want to learn more about quantitative easing and what it actually is? This short 1970s, Barry White-style ballad about central banking policy probably won’t teach you everything but it will give you all the key words you need to discuss the controversial policy.

Weekly Comic Strip – Frazz by Jef Mallett

https://encrypted-tbn0.google.com/images?q=tbn:ANd9GcQMuoc_bSlq2pfJW2nBtS9p4QcHjAvNJto1jLLWv069uuOOYp6xXQ

See you next week!

The ESSA team

The views expressed within this article are those of the author and do not represent the views of the ESSA Committee or the Society's sponsors. Use of any content from this article should clearly attribute the work to the author and not to ESSA or its sponsors.

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