Economics

Paul Summerville • January 12, 2013

Commentary on an important squiggle, fatter world, the coin, the Japanese monetary and fiscal Rubicon, a bi-polar world, the tax man cometh, not ideal, and the great Victoria real estate double squeeze.

The end of the signature.

Telegraph -- Handwriting? It’s a currency that’s devalued
The new US treasury chief isn’t alone. I’ll give you a dollar if you can write your name clearly.

Paul Summerville • January 6, 2013

Commentary on bad IMF math, rail travel in the UK, Jared Diamond’s love of nature, rape in India, down on your luck learn how to pickpocket, and living in the Arctic.

Actually austerity makes things worse, sorry.

Washington Post -- IMF: Austerity is much worse for the economy than we thought
Earlier this week, the International Monetary Fund made a striking admission in its new World Economic Outlook.

Paul Summerville • January 4, 2013

Commentary on electronic gadgets and the brain, a hard look at aid, is growth really over, and an early treaty.

Brain changer.

Financial Times -- Cerebral circuitry
Researchers are focusing on whether gadgets are changing how our brains work as regards empathy and human interaction.

Related.

Paul Summerville • December 28, 2012

Commentary on how cats can make you crazy, a great economics thinker passes on, better Switzerland than Norway for the UK, country supper, it stinks in the UK, and Bob Rae’s voice quietens.

Meow.

Atlantic -- How Your Cat Is Making You Crazy
Jaroslav Flegr is no kook. And yet, for years, he suspected his mind had been taken over by parasites that had invaded his brain.

Exit or voice, or both?

Paul Summerville • December 25, 2012

The Globalist's Top Books of 2012 and interesting reviews. 

Guardian -- Ghosts of Empire: Britain's Legacies in the Modern World
A Tory MP challenges the neocon view of empire in this important history.

Paul Summerville • November 29, 2012

Commentary on the lack of international cooperation today offers dangerous echoes from yesterday, has growth ended, shorting the yen, the memo that changed American politics, Mexico`s influence, and more than Mark.

What the 1930s teach. Beware unstable exchange rates.

Paul Summerville • November 27, 2012

Commentary on Mark Carney’s move to London, why hotel rooms are so expensive, how demographics drives most everything, the Canada-US territorial dispute, and by-election results tell a national story.

He’s got the chops, and he’s going to need them. Thanks to David of London.

 

Paul Summerville • August 30, 2012

Commentary on the real wealth of nations. It’s much more than GDP.

Wealth comes in many packages.

Economist – The Real Wealth of Nations
A new report comes up with a better way to size up wealth.

Related.

Pdf below -- Inclusive-Wealth-Report-2012

Related.

Paul Summerville • August 24, 2012

Commentary on the heavy hand of economists.

With the aftermath of the 2008-2009 financial crisis weighing heavy more and more thoughtful economists like Woody Brock remind us that political institutions matter most.

The Globalist -- Larry Summers and the Imperialism of Economics  
Economists may have been latecomers to the halls of political power, but in recent decades they have become indispensable advisors to prime ministers and presidents.

Paul Summerville • August 23, 2012

Commentary on unascending American blacks, the zombie Euro, China’s neurosis, America`s job machine needs tending, badly taught economics, the Bank of Japan`s China warning, and the return of the toothache with pus.

A powerful summary of what America blacks have been and will likely be up against.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

Twin Virtues

Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.

When too few get too much everybody loses.

Feminism is about women living their lives on their own terms, marshalling the resources of the society to make that possible, and men embracing this as vital to a successful society and their own liberation.

Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society that are unintended but wonderful?

Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways that are good for society and the economy.

My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.

Free trade is a wonderful thing. Time and time again economists have proven that free trade creates enormous wealth for each country 'on the whole'. Historians have shown that free trade is usually associated with rising political, social and cultural liberty. The perennial problem is that free trade always creates tremendous disruption for thousands even millions of individuals often concentrated in one geography, and where the state is idle, not investing in best in class instruments of social justice, free trade can be a permanent ticket out of the middle class, down, not up.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.

Public policy should be designed to decrease inequality before the law and increase equality of opportunity.

Capitalism is not the problem; the problem is what we do with capitalism.

Content is always more difficult to argue than conspiracy.

Let the state regulate and the market operate (most things).

Welfare strategies are best designed as a hand up, not as a hand out.

Political debate should not be fact free fighting.

Explanation lasts longer than eloquence.

Always favour empowerment over dependency.

The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.

Find your voice and don't be the echo of somebody else.

It is possible to operate on two different levels: the practical, cautious and conservative; and the realm of ideas, open, free, and radical.