Greece

Paul Summerville • June 28, 2012

Commentary on the problem with central banking, economic masochism, the death of Greece, and the IRS cometh.

Leave the ‘supply side’ alone.

Economist -- The twilight of the central banker
THE Bank for International Settlements is known as the central bank to central banks.

 

Pdf below -- BIS 82nd Annual Report

Related.

Paul Summerville • June 16, 2012

Commentary on the responsibilities of democracy, Facebook’s attempt to map human behavior, the case for Fed easing, Arctic’s hidden treasures, the great Bieber contagion, and the Liberals only chance.

How Greece got swallowed by its own invention.

Paul Summerville • May 28, 2012

Commentary on English (the language), why economies stop growing, Germany’s tough love, nothing’s free, on being a famous economist, and managing the cost of new medical technologies.

The controversial history of English.

Paul Summerville • May 25, 2012

Commentary on Krugman’s old ideas, Greece’s return to the drachma, Facebook to swampland, China’s next phase, Germany’s hit export, and who’s entitled.

Jeremy Warner warns about Krugman’s plea to spend.

Paul Summerville • May 21, 2012

Commentary on Chinese bourgeois rulers, the relationship between Saudi Arabia and Turkey, why US 10-year bond yields can go to 1%, why free trade creates inequality for just a while, and our Queen.

Will the control of the economy by the state spark a revolution in China? (ed’s note – those deeply entrenched vested interests)

Paul Summerville • May 18, 2012

Commentary on the profits in copying, comparative capitalism, the rise and fall of unions, free trade negotiations, public transit in 20 different  cities, Greece to leave soon, and the case for 100 million Canadians.

Important article that reminds us that there is much profit in copying and adapting.

Economist -- Pretty profitable parrots
For businesses, being good at copying is at least as important as being innovative.

Not all economies are created equal.

Paul Summerville • May 14, 2012

Commentary on Grexit, frequent flying, evolution takes time, man on the run, on literature, and Liberals.

Go already.


Financial Times -- Eurozone: If Greece goes ...
With an exit looking possible, policymakers and investors are shifting focus to the consequences.

 

Paul Summerville • May 11, 2012

Commentary on Greece exiting the Euro, economic smoke and mirrors, taxing churches, and shifting choice in Canada`s immigration strategy.

Greixt.

Financial Times -- Greece is falling out of Europe
The people of Greece have rejected austerity.

Related.

Paul Summerville • April 12, 2012

Commentary on cheery cherry blossoms, what we can learn from how the Germans run their economy, George Will on legalising drugs, Shilling’s warning, a slow death, and Chretien’s mistake.

Sakura, sakura. Thanks to Jeremy of Tokyo for the picture.

Japan Times – Sakura Stories
Drinking and eating under the glorious first flowering trees each spring is a tradition that has endured for hundreds of years in Japan.

The German model.

Paul Summerville • March 22, 2012

Commentary on death of dreaming, living in Syria, bonds, tracking down whistle blowers, Myanmar opening, the power of doing things over and over, the good energy news for Americans, the barter economy, and Andrew suggests leaving it alone.

Death of Salesman more relevant than when first shown in 1949 as it may apply to an entire country.

Economist -- We are all salesmen now
Arthur Miller’s classic play feels more relevant than ever.

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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.