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Why Japan is the most interesting story in global economics right now

Why Japan is the most interesting story in global economics right now | IB Economics Regent's Bangkok | Scoop.it
Japan has suddenly become a testing ground for how to solve the problems that ail all the leading advanced economies. Here's what to watch for.
Blair Lockhart's insight:

Will aggressive expansionary fiscal and monetary policy be effective in closing Japan's recessionary gap?

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Number of the Week: College Grads in Minimum Wage Jobs - WSJ - News with Social Confidence - PASSFAIL.com

Number of the Week: College Grads in Minimum Wage Jobs - WSJ - News with Social Confidence - PASSFAIL.com | IB Economics Regent's Bangkok | Scoop.it
284 Number of American college graduates working in minimumwage jobs in 212
Blair Lockhart's insight:

Oh, dear! Make sure you choose your University course carefully or else a job at the 7/11 may be a possibility.

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Bell Leelakarnsakool's comment, March 31, 2013 9:05 AM
One of the reasons that the number increases could be because of the increases in population - as population increases, the competition also increases. As the demand of several university courses are high, it could cause some students to take the easy way out, and choose the easier course- where these kinds of course are mostly not beneficial to their future career.
Mi-mi Supriya's comment, April 1, 2013 5:32 AM
Is this due to lower demand for the jobs? Personally I find underemployment really harsh just imagine us people finishing IB and earning minimum wage :(
Blair Lockhart's comment, April 4, 2013 7:04 AM
Due to low confidence & expectations leading to low borrowing & investment. Just imagine not having the chance to get an education and being forced to beg or scavenge through rubbish for a living!
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The extreme dangers of a deposit tax - Economics - AEI

The extreme dangers of a deposit tax - Economics - AEI | IB Economics Regent's Bangkok | Scoop.it
Blair Lockhart's insight:

How would you like to have your bank account taxed without warning? Article discussing the EU's decision on the Cyprus bailout conditions & why they are so different than Greece's.

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Quantitative Easing Explained

What the Federal Reserve is up to, and how we got here. September 2012 Update: Check out my essay on how the Fed thinks QE will create jobs: http://omidmalek...
Blair Lockhart's insight:

Sad, but true!

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Vahagn Ar's comment, March 31, 2013 6:19 AM
And there is this thing too ! ( sorry for commenting on this so much i'm just excited , a bit ), When you think of all the major things ( wars, unions etc... ). US is always involved, and i strongly believe that its not US whose provoking and intervening in all that but FED itself , in result they get everything ( money, oil etc...) . And it seems kind of unfair, demotivates me from living :(
Vahagn Ar's comment, March 31, 2013 6:21 AM
check this out too http://theeconomiccollapseblog.com/archives/category/federal-reserve
Blair Lockhart's comment, March 31, 2013 6:34 AM
"..seems kind of unfair.." How about downright despicable!
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Intertic, International Think-Tank on Innovation and Competition

Blair Lockhart's insight:

A good review of monopoly and its relative efficiency or lack of it

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The UK economy is still ailing – time to change the medicine

The UK economy is still ailing – time to change the medicine | IB Economics Regent's Bangkok | Scoop.it
George Osborne's original diagnosis of Britain's economic problems had merit, but his treatment has not worked
Blair Lockhart's insight:

Should Britain continue with its ineffective loose monetary policy or resort to Keynesian government spending to pull itself out of a 3 year slump?

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Christophe Lete's comment, March 18, 2013 6:56 AM
Keynesian is the way to go. But it's hard to enforce because the majority just don't like it. Just like what happened in the Italian election. Berlusconi got 2nd?gotta be kidding Look at Monti, saved Italy from the brink of crisis, got the lowest popular vote because people complained about tax.
Blair Lockhart's comment, March 18, 2013 7:35 AM
'the majority don't like it'? Generally government spending (fiscal policies) are well supported by the middle & lower classes & about 1/2 of the Economists
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Africa, Southeast Asia among emerging-market ‘growth stars’: Capital Economics

Africa, Southeast Asia among emerging-market ‘growth stars’: Capital Economics | IB Economics Regent's Bangkok | Scoop.it
Economies in sub-Saharan Africa, South East Asia and Europe are among those poised to become the new “growth stars,” according to Capital Economics.
Blair Lockhart's insight:

Y13: Check out the latest stats on EG & the emergence of the 'new tigers'

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Bigg TheLum Arunrat's comment, March 31, 2013 8:33 AM
China will still remains as the world's fastest growing economy simply due to its "strong manafucturing base"(like Capital Economics stated) and also due to the large amount of population in its country.Africa and South East Asia will be the new growth stars because they still have so many resources because they are not as developed so they don't really know how it will benefits them while other regions are already developed therefore have far less resources available which. They are trying to catch up the developed countries therefore the remian resources allowed SEA and Africa to reach its maximum development capability
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Hugo Chávez’s rotten legacy

Hugo Chávez’s rotten legacy | IB Economics Regent's Bangkok | Scoop.it
BACK in the 1990s Latin America seemed to have turned the page on military rule and embraced democracy and free-market economics, with the sole, beleaguered...
Blair Lockhart's insight:

"He preserved the outward forms of democracy, but behind them he concentrated power in his own hands and manipulated the law to further his own ends."

"His scarlet beret may look good on bourgeois T-shirts in Greenwich Village and Islington, but Latin America’s real working-class hero has been Brazil’s Lula."

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The booming world? Growth from Thailand to Turkey – interactive

The booming world? Growth from Thailand to Turkey – interactive | IB Economics Regent's Bangkok | Scoop.it
We look at child mortality, university enrolment, mobile phone subscriptions and tourist numbers in Chile, Ghana, Indonesia, Mexico, Thailand and Turkey
Blair Lockhart's insight:

An interacive tool to compare countries by various development indicators

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Forestry body's £24k pollution fine

Forestry body's £24k pollution fine | IB Economics Regent's Bangkok | Scoop.it
The Forestry Commission Wales apologises after it is fined £24,000 for polluting a 20-mile (33km) stretch of waterway in Powys.
Blair Lockhart's insight:

A government department paying another government department for spillover costs on government land!

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Gor Martirosyan's comment, March 6, 2013 3:47 AM
Government can use different policies to correct the spillover costs.Imposition of taxes on the firm: the government could impose a tax per unit or a tax per unit of pollutants emitted. The marginal private cost(MPC) curve will shift upward towards marginal social cost(MSC) curve, as the firms’ production costs will increase by the exact amount of the negative externalities, thus increasing the price to P2. Another ways are the legislation and regulations and the tradable permits.
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Harvard Economist Gita Gopinath Offers a Euro Cure

Harvard Economist Gita Gopinath Offers a Euro Cure | IB Economics Regent's Bangkok | Scoop.it
The professor has championed a strategy that would mimic a currency devaluation without a euro bust-up
Blair Lockhart's insight:

Interesting article on a way to increase domestic consumption compared to imports, by raising VAT while giving domestic business tax credits.

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A2 Macro - Aspiring Africa | F585 The Global Economy - Development Economics

A2 Macro - Aspiring Africa | F585 The Global Economy - Development Economics | IB Economics Regent's Bangkok | Scoop.it
CELEBRATIONS are in order on the poorest continent. Never in the half-century since it won independence from the colonial powers has Africa been in such good shape....
Blair Lockhart's insight:

An excellent summary of the progress being made in African Economic Development. Relevant, up to date statistics and adveice on the way forward. A must read for Y13

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Beijing hopes carbon dioxide tax will help reduce pollution

Beijing hopes carbon dioxide tax will help reduce pollution | IB Economics Regent's Bangkok | Scoop.it
Beijing will levy a tax on carbon dioxide emissions as part of new fiscal measures aimed at addressing the mainland's worsening pollution problem, a senior official at the Ministry of Finance said....
Blair Lockhart's insight:

They had better do something fast! Let's hope this works.

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Fed’s Tarullo: Not Ready to Scale Back Bond Purchases

Fed’s Tarullo: Not Ready to Scale Back Bond Purchases | IB Economics Regent's Bangkok | Scoop.it
Fed governor Tarullo said he hasn't seen enough sustained evidence that the economic outlook has improved to justify changes in the central bank's bond-buying programs.
Blair Lockhart's insight:

"The Fed is currently buying $45 billion in long-term Treasurys and $40 billion of mortgage-backed securities each month..." Huh! $85 BILLION A MONTH! Crazy world! 

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Economic Growth - Productivity & Economic Development

Economic Growth - Productivity & Economic Development | IB Economics Regent's Bangkok | Scoop.it
Economic Growth - Productivity & Economic Development
Blair Lockhart's insight:

Effects of improving productivity on Economic Growth

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The capital controls in Cyprus and the Icelandic experience | vox

The capital controls in Cyprus and the Icelandic experience | vox | IB Economics Regent's Bangkok | Scoop.it
Blair Lockhart's insight:

The necessity & then downsides of capital controls. Y13!

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'Who Was Going To Die First': Damning Report Reveals Violence, Drug Use At Ohio Private Prison

'Who Was Going To Die First': Damning Report Reveals Violence, Drug Use At Ohio Private Prison | IB Economics Regent's Bangkok | Scoop.it
A new report detailing a state inspection of a private prison in Ohio describes gang-related violence so commonplace and drug use so rampant that many guards are afraid to intervene -- instead, they are leaving their jobs at an alarming rate.
Blair Lockhart's insight:

Downsides of privatisation!

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Tiko Akulian's comment, March 31, 2013 10:14 AM
To operate more efficiently we need to cut the costs. We can do it. By scaling back programs and number of employees, which generates less product for the price, which is not really more efficient after all. Quota for inmates is a quota for criminal prosecution, which is a manipulation of the justice system in order to maintain inmate levels to insure profitability during a slow period of crime. To put in jail someone and prosecute them for any fabricated crime you can make stick in court the need to increase crime instead of decrease crime which is the original and general intention of the judicial and prison system! Any time a corporate mouth piece uses the phrase "run more efficiently" they really mean make a profit. If it wasn't so profitable , they wouldn't be eager to privatize it.
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China’s Poison Air Is Becoming Its Leading Export

China’s Poison Air Is Becoming Its Leading Export | IB Economics Regent's Bangkok | Scoop.it
Sitting on a Tokyo runway last week, the captain announced that our flight would be delayed for reasons few of us could believe: sandstorms.
Blair Lockhart's insight:

"Could pollution actually lead to military conflict..."

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Albert Ayvazyan's comment, March 31, 2013 12:50 AM
Enterprising politicians are making supernormal profit from this structure to make a shift to a more service based economy. That is why they need to be in jail. :)
Blair Lockhart's comment, March 31, 2013 12:56 AM
Huh?
Tigran Babayan's comment, March 31, 2013 2:09 AM
The actions of Chinese firms and Chinese people are creating negative externalities, which affect the whole Asia. Therefore the governments of other countries are concered, because the actions of Chinese can lead to a serious deterioration in relations between China and the rest of the world.
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From Education to Economics: The 40 Best Social Change Documentaries You Have to See

From Education to Economics: The 40 Best Social Change Documentaries You Have to See | IB Economics Regent's Bangkok | Scoop.it
Over the last 7 years, Films For Action has been cataloging an online library of the best social change films that can be watched free online. Opting for quality over quantity, the site has...
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Big fine for a broken promise: Microsoft's antitrust breach puts tech firms on notice

Big fine for a broken promise: Microsoft's antitrust breach puts tech firms on notice | IB Economics Regent's Bangkok | Scoop.it
When large corporations can shrug off financial penalties and seem indifferent to reputational damage because they’ve captured the consumers, you might wonder about the true cost of broken promises in…...
Blair Lockhart's insight:

Microsoft happy to pay for having a monopoly. 

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50 Truths about Hugo Chavez and the Bolivarian Revolution | venezuelanalysis.com

50 Truths about Hugo Chavez and the Bolivarian Revolution | venezuelanalysis.com | IB Economics Regent's Bangkok | Scoop.it
Blair Lockhart's insight:

The sucesses of Hogo Chavez and socialism?

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The quest to end poverty | TED Playlists | TED

The quest to end poverty | TED Playlists | TED | IB Economics Regent's Bangkok | Scoop.it
It's the challenge of our age: How do we end poverty? Hear ideas and results from economists, philanthropists, activists working -- in labs and on the ground -- to wipe it out.
Blair Lockhart's insight:

A series of 8 short talks. 

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A2 Macro - Japan and US aim to relax trade barriers | F585 The Global Economy - Development Economics

A2 Macro - Japan and US aim to relax trade barriers | F585 The Global Economy - Development Economics | IB Economics Regent's Bangkok | Scoop.it
Frank Lavin, Chairman and CEO of Export Now says Japan and the US are moving closer to an agreement on the Trans Pacific Partnership.
Blair Lockhart's insight:

Short video on possible developments with the Trans Pacific Partnership

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The Great Tax-Cut Experiment | Dollars & Sense

The Great Tax-Cut Experiment | Dollars & Sense | IB Economics Regent's Bangkok | Scoop.it
Dollars and Sense magazine and textbooks provide analysis and opinion on economic policy and politics from a progressive political perspective (The Great Tax-Cut Experiment. Has cutting tax rates for the rich helped the economy?
Blair Lockhart's insight:

Challenging the view that lower taxes encourages growth. 

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The Economics of Happiness by Jeffrey D. Sachs - Project Syndicate

The Economics of Happiness by Jeffrey D. Sachs - Project Syndicate | IB Economics Regent's Bangkok | Scoop.it
The mad pursuit of corporate profits is threatening us all.
Blair Lockhart's insight:

I'd like everyone to read & consider this article. Do you feel as IB students, you are under too much pressure? Are forced to work too hard? Have too little time to follow other pursuits? Does the modern world put too much emphasis on progress, Economic Growth and work instead of happiness? Please comment.

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