The world this week with ESSA
Hand picked selection of economics content from around the web.
ESSA, 2 September 2012
– World Economy
Walmart heirs own more wealth than bottom 40 percent of Americans – Tampa Bay Times
Bernie Sanders, an independent who caucuses with Democrats, tweeted a startling statistic to his followers on July 22, 2012: “Today the Walton family of Walmart own more wealth than the bottom 40 percent of America.” Could this big claim be true?
How Greece could end up with two currencies – Core Economics
A potential solution to the end of the Greece bailout. But is it possible? Has it ever been done before? What would it entail for Greece? Read to find out!
Wrinkled workers help defuse Japan’s pension time bomb – The Age
5.7 million Japanese older than 65 still in the workforce for money, health or to seek friends – the highest proportion of employed seniors in the developed world. While the Australian government and governments across the European Union struggle to convince their voters to sign up for longer work lives, Japan faces the opposite issue: how to meet the wishes of an army of willing elderly workers.
– Here in Australia
Australia trades away its carbon revenue – Business Spectator
Linking Australia to the European Union carbon emissions trading scheme by 2015 will undoubtedly affect the revenue gained from carbon trading. The question is, how much? One should expect up to 50 per cent less revenue than originally thought in 2015 (some $3 billion a year) – but there are many variables that could blow even this figure completely off course.
Forget luxury homes, it’s wiser to buy at cheap end – AFR
In bull markets you often see boutique developers gravitating towards luxury products. There is a cachet attached to producing pricier citadels. In a similar fashion, wealthier individuals tend to collect ensembles of more expensive homes. For those into property investment the AFR discusses whether or not that is a sound strategy to be employing.
– For your interest
VIDEO Status of the mining boom with Clarke and Dawe – ABC
Clarke and Dawe, the ABC’s resident political comedians try and figure out with Morris Grahame whether the Australian mining boom is over or not.
The Prophet of Unintended Consequences – Strategy + Business
An extensive interview with Jay Forrester professor emeritus of the Sloan school of Management in MIT on the topic of forecasting using dynamic non-linear computer models.
Weekly Comic Strip – by XKCD
See you next week!
The ESSA team