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The World This Week with ESSA


ESSA Publications

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September 9th, 2012


Germany should leave the Euro and Australians should work for $2 a day.


The world this week with ESSA

Hand picked selection of economics content from around the web.

ESSA, 9 September 2012

– World Economy

A precarious global outlook – Business Spectator

Stephen Koukoulas speaks at the Sydney breakfast with the Economists event, giving a broad overview on topics of interest around the world: State of the American economy, China’s future prospects in the short and medium term and the status of the Eurozone.

Germany should lead or leave the EU – Reuters

VIDEO All the talk is about Greece, Spain and Italy leaving the Euro…however, Veteran investor George Soros is talking about a very different proposition…Germany? He says that Germany needs to embrace its leadership role in Europe or leave the euro. Find out more at this interview with Reuters.

– Here in Australia

Gina Rhinehart calls for Australian Wage cut – BBC

VIDEO Australian mining magnate Gina Rinehart has criticised her country’s economic performance and said Africans willing to work for $2 a day should be an inspiration. Ms Rinehart is reported to be the world’s richest woman and her views have been dismissed by Prime Minister Julia Gillard. Find out more with this BBC report.

October rate cut is ‘live’ – AFR

The one constant in policy making is change, however Christopher Joye at the AFR says that The Reserve Bank has its work cut out scrambling to synthesise the schizophrenic daily swings in the global economy’s outlook and it needs to be careful that it does not allow the swings in the financial market to dictate its longer term strategy.

– For your interest

Kids Marshmellow Experiment

VIDEO “The marshmallow experiment is a famous test of this concept conducted by Walter Mischel at Stanford University and discussed by Daniel Goleman in his popular work. In the 1960s, a group of four-year olds were given a marshmallow and promised another, only if they could wait 20 minutes before eating the first one. Some children could wait and others could not. The researchers then followed the progress of each child into adolescence, and demonstrated that those with the ability to wait were better adjusted and more dependable (determined via surveys of their parents and teachers), and scored an average of 210 points higher on the Scholastic Aptitude Test.”

Weekly Comic Strip – by Windyanabasis

Quantitative Easing – Central Bank attempting to control the money supply

QE

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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