Opinions - Thursday, 16 July 2009
Models to Be Changed: Africa Depending on Handouts and California on Oil
Why Africa depends on handouts ? (Al Jazeera ), California's Green Dream (Le Monde Diplomatique ), Lessons for the future: Ideas and rules for the world in the aftermath of the storm, Part I (Vox EU), Is It Possible to Detect Bubbles? (The Baseline Scenario)
Why Africa depends on handouts (Al Jazeera - Qatar)
Barack Obama, the charismatic US president, whom I like and much respect, came to Africa bearing a message and a gift. Both spoke of Africa's need for self-determination. This was part of his message: "Governments that respect the will of their own people are more prosperous, more stable and more successful than governments that do not ... This is about more than holding elections - it's also about what happens between them (...)
California's Green Dream (Le Monde Diplomatique - France)
America is waking up to the reality of peak oil and climate change. In California there are very different responses to the crisis: some pin their hopes on new technology, while others advocate a radical change of lifestyle. (...)
Lessons for the future: Ideas and rules for the world in the aftermath of the storm, Part I (Vox EU - The Net )
It's time to start drawing conclusions about the global crisis. This column, the first of a two-part series, assesses the causes and nature of the problems. Although the crisis originated in financial market failings, policymakers are much to blame. Regulatory failure amplified private sector errors, and poorly planned policy responses exacerbated the troubles..(...)
Is It Possible to Detect Bubbles? (The Baseline Scenario - U.K.
On the one hand, it seems obvious; didn't we all know there was a housing bubble back in 2006? On the other hand, if it's that easy, why aren't we all as rich as John Paulson? A while back I suggested that the Fed could spot a housing bubble by treating housing prices the same way if treats the prices that make up the CPI. If there is high inflation in the core CPI, you don't stop and ask if there is a fundamental reason for higher inflation; you tighten monetary policy (raise interest rates). The Fed could do the same thing for housing prices, since housing is an asset that people need to consume. But that's probably a simplistic view.
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