A recent Business Insider article detailed how the Goldman Sachs managed to solve the long tolerated issue of lunchtime cafeteria crowding (unrelated humour-plenty Goldman Sachs video). The analysts at the Goldman Sachs had identified that during the typical midday hunger-period of 11:30am to 1:30pm, the cafeteria was crowded, lines for food collection were long and stagnant, and for the average Goldmanite this was an inefficient use of their time.
In his 1936 book ‘The General Theory of Employment Interest and Money’ John Maynard Keynes outlined how rather than being independently rational, investors were often prone to erratic herd-like behaviour. He argued that macroeconomic stability is inherently vulnerable to the ‘animal spirits’ of speculators. The recent deflation of the post Global Financial Crisis (GFC) gold price bubble is a prime example of this phenomenon.
Twelve years after being named the next global economic powerhouses, the Brazilian, Russian, Indian, Chinese and South African governments, also known as the BRICS economies, have decided to embrace a de facto union, and had numerous economic meetings between the countries’ leaders. The group demands international attention. Brazil can offer the world enormous amounts of agricultural goods, China is the world’s second largest economy with a massive cheap labour force, India offers itself as a source of inexpensive intellectual resources, and Russia is now the world’s largest mineral exporter. The group are now considering making a formal alliance, following a meeting of all five countries in Durban. Such a move would most likely create one of the world’s most powerful unions of the twenty-first century, and surely the most diverse we have seen thus far.