This week in Editors’ Picks we take a look at the effect forgeries have had on the artistic community, the Greek government’s wild new measures to raise revenue, free trade, the iPhone, and more! Read on to get your latest fix of eco news.
The emperor’s new pictures – The Economist
Art: the ultimate positional good, the demand for which is dependent on its scarcity, desirability and (often) exorbitant prices. But what happens when forgeries are thrown into the market? The Economist makes a thought-provoking comment on the global art market, and what counterfeits really show about our supposed appreciation for beauty.
Greece Turns to EBay-Style Auctions to Unload State Property – Maria Petrakis
With its debt currently creeping around 160% of GDP, the Greek government is resorting to more creative measures to raise revenue—including e-auctioning government property. Maria Petrakis reports on the state’s new and questionable scheme to rebalance its budget.
Why embracing free trade may be more complicated than it looks – Jeffery Wilson
The new Liberal government have announced their plan to embrace free trade. Jeffery Wilson analyses the economic impact and realities of the government’s proposal including the dynamics of free trade agreements and the trade-off dilemma faced by Australia.
The Future of the Firm – Schumpeter
Given the poor performance of professional service firms over the previous year, The Economist assess the specialised industry of management consulting and how its performance compares to the rest of the sector.
the game of iPhone pricing, consumers are the losers – Jason Downs
The economic concept of game theory is applied to the recent release of the new iPhone 5S and 5c. The Conversation explores the possibility that as a result of this pricing approach consumers may be the ones who are ultimately adversely impacted.