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The World this week with ESSA


ESSA Publications

By

October 21st, 2012


America, making fun of America and falling out with Austerity.


This week: America goes to the voting booth (almost), and so to help everyone relax during the pre-exam stress we have prepared some extra interest reading material. Also some follow up reading on ESSA’s guest this week: Martin Wolf.

ESSA, 21 October 2012

Around the world

Is America stuffed? – The Age

America’s economy has been in a malaise since the ‘end’ of the Global Financial Crisis a few years back.The world’s largest economy has never experienced this kind of protracted downturn in recent history, in the midst of which Obama or Romney each proclaim they have cures to back the tide. But what is the source of this glut – are the problems that America is facing deeper than problems in the financial sector? Could the US be slowly dying from over-consumption?

November 7th – New York

The election race in the world’s largest economy is an interesting affair and always gets tons of exposure. Though their agendas are hidden, both Romney and Obama have plans to dramatically remake the size and character of American government. Very, very quickly. Here is a really in depth look that will get you up to speed with all the main points of either administration and the overall state of affairs in the states.

Multipliers: why does it matter? – Not the Treasury View

For those wanting to get hands on into the theoretical economics behind multipliers, deficits and fiscal austerity, the director of NIESR (A UK Think tank) explains the overview on the massive intellectual shift beginning with the IMF’s report last week: the shift away from aggressive fiscal consolidation in the Eurozone and recognition of devastating fiscal multiplier effects. It also notes that a small group of prominent economists had long advocated this, including Essa’s man of the hour: Martin Wolf.

Neoclassical economists are fuelling neo-Nazism – Business Spectator

Proof that economics is ever a divided field: a scathing attack on Neo-classical economics, commonly seen as the successor to Keynesian economics for Macro-decision making. The focus of the article is on the IMF’s recent turnabout in its attitude towards ‘fiscal conslidation’, a.k.a. austerity measures.

Here in Australia

He doesn’t cry wolf but he spots the bull – The Age

This past week ESSA hosted Martin Wolf, the FT’s chief economic commentator for an event on how to write as an economist (refer to our events summary) and also him deliver his insights into the post GFC world at the University of Melbourne’s Corden Public Lecture. While it probably will come too late for anyone who has already missed it, you can still get his insights on the current state of the world economy in this article with The Age.

For your interest

Why Do the Swiss Eat So Much Chocolate? – Slate

Also, And does it help them win Nobel Prizes? If you’ve ever pondered these question, now is the the time to get it answered.

Governor Romney’s Tax Plan

Those following the US presidential race might be interested to see what the Republican Candidate has up his sleeve, in a newly published report detailing his plans for America as president.

Amid Brutal Campaign, a Respite. With Jokes. – NYTimes

Proof that the the two candidate’s jabs at each other don’t always have to be serious. Read on for all the wit and humour that each of the bidders for the world’s most influential man have to offer.

There are many ways to price by gender – The Undercover Economist

‘From December 21 . . .  insurers must apply an EU-wide ban on the use of gender to price products, such as motor insurance and annuities.’ – Financial Times

A thoughtful discussion on what constitutes discrimination by insurers, and what does not.

(Usually) Weekly Comic Strip Non-Sequitur – By Wiley

On Economists:

http://austrianeconomists.typepad.com/.a/6a00d83451eb0069e2015435087249970c-pi

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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