As inequality grows, the rich become more powerful than the rest of the population, enabling them to veto any policy that impedes their one-sided enrichment. They also become less empathetic toward the rest of the population, whose lives seem less similar to their own with each passing year.
An international dialogue should begin now. It might open with an invitation to the Troika: Explain why Greece should not start a jobs guarantee policy today.
As the U.S. economy recovers, hirings increase and people are encouraged to look for jobs again. Instead, the ratio of the adult population with jobs, or looking for one -- what's called the labor force participation rate -- has been falling, standing at 62.9 percent in July 2014
It's tough to find any drivers who relish digging into their wallets to fill up at the pump. According to the International Monetary Fund, though, not only should fuel taxes jump by more than 50 percent, the increase should have Canadians whistling a happy tune. Now, here's the real kicker: The IMF is right.
Energy use is critical for any development, but it can also result in excessive environmental and social negative effects, bearing huge costs to the economy.
The recovery continues, but it remains weak, indeed a bit weaker than we forecast in April. We have revised our forecast for world growth in 2014 from 3.7 percent in April to 3.4 percent today. This headline number makes things look worse than they really are.
Establishing the BRICS Bank is a momentous event The July 2014 BRICS (Brazil, Russia, India, China, South Africa) Summit was a momentous event, more ...
The "New Development Bank" announced in Fortaleza this week marks the launch of a collective lending platform steered exclusively by the BRICS countries. With an authorized capital of $100 billion, it could lend up to $34 billion per year. It is not an understatement to say that this is a new kind of bank for a new world order. For the first time in history, infrastructure spending consistently exceeds military expenditure.
The wind appears to again be at Dilma Rousseff's back again, as Brazil's performance at the World Cup has virtually assured that she will be re-elected -- politics working as politics do.
We will not see a real recovery that puts even the long term unemployed back to work, until the mountain of private debt is reduced. And that can't happen until we create full employment policies that continue to create more jobs on Main Street.
House prices are inching up. But is this a cause for much cheer? Or are we watching the same movie again?
If you want good global governance, you have to provide good global citizenship.