The Wealth of Nations
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The Wealth of Nations
UK economics round-up
Curated by david denton
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The Richter Scale: The North South Divide - welfare reform adds to the problem

The unfairness of benefits reform spells danger for the Tories
david denton's insight:

Welfare cuts in some northern cities will eliminate 6.5 years of real household disposable income growth

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The Richter Scale: Money can't by me love but it can get me new hip

A blueprint to replace the consensus on welfare that has existed since Beveridge.
david denton's insight:

In the last month there has be a sea change in British politics, which threatens to overturn the consensus that has held sway since 1945.  All the major political parties have finally recognised that there needs to be a more sustainable relationship between the size of our economy and the scale of our welfare state. We are all children of Beveridge and his report (published in 1942),  which set a roadmap for defeating the ‘the five greats’ - squalor, ignorance, want, idleness and disease.  It’s clear that some of his work is now completed and its time to redefine these ‘greats’ (mine would be Debt, Greed, Intolerance, Ignorance and Security) but the vision can wait all the focus is now devoted to the funding model for our state provided services.

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After 2 days of meetings, G7 agrees on need to balance austerity with growth - CTV News

After 2 days of meetings, G7 agrees on need to balance austerity with growth - CTV News | The Wealth of Nations | Scoop.it
CTV News After 2 days of meetings, G7 agrees on need to balance austerity with growth CTV News Finance leaders from the Group of Seven leading industrial economies say Japan's stimulus policies are directed at boosting its economy out of a...
david denton's insight:

Fine words - we will see?

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The Richter Scale: Lost Productivity Killing the West

Why the developed world has lost productivity since the credit crunch
david denton's insight:

Old age, Zombie, internet and the black economy all impacting productivity

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The Richter Scale: George Osborne and the IMF - the blind leading the blind

The IMF miss the point on austerity, they should focus on the QE rehab required in the UK.
david denton's insight:

Against this back drop of soaring stock markets the UK economy is having its annual health check from the IMF and like a sickly patient waiting in the surgery waiting room there is some nervousness.  Much of this nervousness comes from the fact that we are surrounded by a large number of ailing economies with high contagious problems, most of who hail from southern Europe

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British economy would be better off outside EU, says Nigel Lawson

British economy would be better off outside EU, says Nigel Lawson | The Wealth of Nations | Scoop.it
Tory peer and former chancellor claims union has become 'bureaucratic monstrosity' from which the UK should break free (British economy would be better off outside EU, says Nigel Lawson http://t.co/xuShJrVUFQ)...
david denton's insight:

Quite a turn around for the amn who tried to force Thatcher into the pre-Eurozone

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What is Labour policy on the benefits cap? - The Independent (blog)

What is Labour policy on the benefits cap? - The Independent (blog) | The Wealth of Nations | Scoop.it
The Independent (blog)
What is Labour policy on the benefits cap?

Via Bruce Fellowes
david denton's insight:

Well its er er er we er er 

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The Richter Scale: Reinhart and Rogoff knocked-out in the last round

why Economic growth depends upon the desire to make money being stronger than the desire to hold on to money
david denton's insight:

The drug that is low interest rates

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Austerity Strikes Back: Budget Hawks Regroup After the Reinhart/Rogoff Affair - TIME

Austerity Strikes Back: Budget Hawks Regroup After the Reinhart/Rogoff Affair - TIME | The Wealth of Nations | Scoop.it
Media Matters for America (blog)
Austerity Strikes Back: Budget Hawks Regroup After the Reinhart/Rogoff Affair
TIME
In recent years, we have had no shortage of pundits, politicians, and writers telling us of the certain doom facing the U.S.
david denton's insight:

And they thought economics was a science

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Jack Rasmus – ‘The Failure of Fiscal-Monetary Policy, 2008-2013’

Jack Rasmus – ‘The Failure of Fiscal-Monetary Policy, 2008-2013’ | The Wealth of Nations | Scoop.it
Fiscal and Monetary policies since the financial crisis and the protracted recession that began in 2008 have failed to generate a sustained recovery of the U.S. economy—except for big...

Via Bruce Fellowes
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The Richter Scale: Avoiding the triple dip

Triple dip recession avoided but the problems still remain
david denton's insight:

The British government prove utterly clueless in the important business of economic growth

 

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IMF steps up call for Osborne to slow down austerity plans as row escalates - Telegraph

IMF steps up call for Osborne to slow down austerity plans as row escalates - Telegraph | The Wealth of Nations | Scoop.it
A row between George Osborne and the International Monetary Fund over Britain’s economic strategy has escalated after the fund’s deputy managing director joined those urging the Chancellor to consider slowing down his austerity plans.
david denton's insight:

Osborne sticking to plan A has very few friends left 

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Does High Public Debt Stifle Economic Growth?

Does High Public Debt Stifle Economic Growth? | The Wealth of Nations | Scoop.it
New study refutes Reinhart and Rogoff analysis that underpins austerity policy around the world; shows no relation between debt and lack of growth (New study refutes Reinhart and Rogoff analysis that underpins austerity policy around the world
david denton's insight:

The row over the harvard research goes on - Why a 90% threshold should be so important beats me and most other observers - although George Osborne has been taken in on this!

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North South Divide

david denton's insight:

From the launch of the Euro in 1999 until 2007, the period of the credit boom, the ECB held interest rates at an artificially low level and allowed a massive expansion of credit and government indebtedness.  This great easing of monetary policy was in support of the German’s need to kick start their economy after a decade of no or low growth – a kind of Abenomics to resolve the issues of reunification

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German finance minister: euro zone crisis no longer main risk to global economy

German finance minister: euro zone crisis no longer main risk to global economy | The Wealth of Nations | Scoop.it
AYLESBURY, England (Reuters) - The euro zone crisis is no longer the main risk for the global economy, German Finance Minister Wolfgang Schaeuble said on Saturday, adding that a relatively high level of (German finance minister: euro zone crisis no...
david denton's insight:

The attention shifts to the currency wars and Abenomics

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G7 states meet in UK as US presses Europe on austerity - FRANCE 24

G7 states meet in UK as US presses Europe on austerity - FRANCE 24 | The Wealth of Nations | Scoop.it
FRANCE 24 G7 states meet in UK as US presses Europe on austerity FRANCE 24 AFP - Finance ministers and central bank chiefs from the Group of Seven leading economies will meet in the English countryside on Friday for talks on spurring growth, amid...
david denton's insight:

The blind leading the blind

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The third lever of macroeconomics

The third lever of macroeconomics | The Wealth of Nations | Scoop.it
ECONOMICS undergrads learn early on about two levers to manage the macroeconomy: fiscal policy and monetary policy. Events of the last five years make clear that...
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Equity markets join the global “reach for yield”

Equity markets join the global “reach for yield” | The Wealth of Nations | Scoop.it
In the past few weeks, a puzzle has developed in the global financial markets. Equities, at least in the developed countries, have broken free of the constraints which normally bind them to fluctuations in the global economy.
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The Richter Scale: Reinhart and Rogoff knocked-out in the last round

why Economic growth depends upon the desire to make money being stronger than the desire to hold on to money
david denton's insight:

Economic growth depends upon the desire to make money being stronger than the desire to hold on to money, not earth shattering but true.  In 2008 the Western world was shattered economically and is now hanging on for grim death, since 2009 it has used negative interest rates as its life line.  In normal conditions low interest rates should stimulate economic activity but when there is a preponderance of distressed debt, low interest rates have the opposite effect, encouraging a lock down of private capital (Zombie businesses and Zombie Householders). 

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France’s economy needs to become more German

France’s economy needs to become more German | The Wealth of Nations | Scoop.it
The A-List from the Financial Times provides timely, insightful comment on the topics that matter, from globally renowned leaders, policymakers and commentators.
david denton's insight:

Non - France's economy needs to become more like Korea's!

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The Richter Scale: Walking with the Dinosaurs

A rebuff to Paul Krugman and other keynesian economist
david denton's insight:

Its the big picture we should worry about!

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Cash-strapped French government selling fine wines

Cash-strapped French government selling fine wines | The Wealth of Nations | Scoop.it
The cash-strapped French state is selling off its collection of fine wines in order to raise some money and invest in a collection of more modest beverages.
david denton's insight:

Now we know it bad 

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German finance minister calls anti-euro party's policy "insane" - Yahoo! News

German finance minister calls anti-euro party's policy "insane" - Yahoo! News | The Wealth of Nations | Scoop.it
Yahoo! News
German finance minister calls anti-euro party's policy "insane"
Yahoo!
david denton's insight:

Having enjoyed the ride the German's can't cope with the pain of supporting those economies that have been buying cheap german good fo a decade - shame on you  Wolfgang Schaeuble

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Leading economies promise to boost growth - FT.com

Leading economies promise to boost growth - FT.com | The Wealth of Nations | Scoop.it
The world’s leading economies set an objective on Saturday to boost growth and jobs at the end of a weekend of high-level meetings, but undermined their ambitions with sharply differing views of the necessary policies.
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Fitch downgrades UK economy - ITV News

Fitch downgrades UK economy - ITV News | The Wealth of Nations | Scoop.it
Read Fitch downgrades UK economy latest on ITV News. All the Friday 19th April 2013 news
david denton's insight:

Oh no1  To be down graded by the French is the final insult

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