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Africa: The Good, the Bad and the Ugly

Steve H. Hanke | Posted 08.15.2014 | Politics
Steve H. Hanke

Last week, President Obama hosted the U.S.-Africa Leaders Summit in Washington, D.C. He welcomed over 40 African heads of state and their outsized entourages to what was a festive affair.

Hey Kids: Keep the Noise Down! (GDP Version)

Jared Bernstein | Posted 07.30.2014 | Politics
Jared Bernstein

What happened in this recovery is that we settled into trend growth before we bounced back and repaired the damage. That's why the job market in particular has taken so long to recover.

The U.S. Government Has Hurt The Economy In 11 Of The Past 12 Quarters

The Huffington Post | Mark Gongloff | Posted 07.30.2014 | Business

The U.S. economy has just gone through some big, big changes. Big, good changes! But one thing has not changed: federal government spending, which can...

The Economy Just Grew Much Faster Than It Was Expected To

Reuters | Lucia Mutikani | Posted 07.30.2014 | Business

WASHINGTON, July 30 (Reuters) - U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior perio...

The BRICS Bank Signals the End of the American Financial Empire and U.S. Dollar Hegemony

Dr. Nasser H. Saidi | Posted 07.21.2014 | World
Dr. Nasser H. Saidi

Establishing the BRICS Bank is a momentous event The July 2014 BRICS (Brazil, Russia, India, China, South Africa) Summit was a momentous event, more ...

Latvia, the Country Prof. Krugman Loves to Hate, Wins 1st Prize

Steve H. Hanke | Posted 07.18.2014 | World
Steve H. Hanke

Latvia, a country Paul Krugman loves to hate, takes the prize for the least miserable of the former Soviet Union countries in this sub-ranking.

From Big Data to Deep Data

Otto Scharmer | Posted 07.21.2014 | Technology
Otto Scharmer

Over the past ten months I have chaired and co-facilitated MIT's IDEAS China program--a ten month innovation journey for a group of 30 or so senior Ch...

New CBO Long-Term Budget Projections Tell Familiar Story

Paul N. Van de Water | Posted 09.14.2014 | Politics
Paul N. Van de Water

The Congressional Budget Office's new long-term budget projections, released today, are very similar to those that CBO published in September 2013 and to ones that we released in May 2014. They show that the nation's fiscal outlook is stable for the rest of this decade and then worsens gradually.

Dilma Is Likely to Be Reelected, So Why Are Brazilians Celebrating?

Daniel Wagner | Posted 09.06.2014 | World
Daniel Wagner

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.

Brazil's Passion Trumped Logic -- And That's a Good Thing

Suraj Patel | Posted 07.04.2014 | Sports
Suraj Patel

t's hard to think that Russia, or Qatar, or frankly anywhere could match that atmosphere.

Gross Domestic Problem: Don't Shoot the Measurement

Brian Czech | Posted 09.01.2014 | Business
Brian Czech

As our economy exceeds the capacity of the planet to sustain us and future generations, we need to monitor the size of our economy more closely than ever. And there is no better measurement of the size of our economy than GDP.

Should Happiness, More Than GDP, Define A Nation's Success?

CNN Money | Jeanne Sahadi | Posted 07.01.2014 | World

The drafters of the Declaration of Independence didn't really define "Happiness" when they cited the pursuit of it as an inalienable right. But in ...

The Federal Reserve Board --The Adults in the Room

Terry Connelly | Posted 08.27.2014 | Business
Terry Connelly

If you asked the average person how they feel about the Federal Reserve's latest economic projection that trimmed its estimate of 2014 U.S. GDP growth to a range of 2.1-2.3 percent, they would probably say that's not so hot -- not a recession, but quite depressing nonetheless.

The Economy Isn't As Bad As You Think-- But It's Still Pretty Bad

www.newrepublic.com | Posted 06.26.2014 | Business

The economy contracted at an annualized rate of negative 2.9 percent in the first quarter of this year. In other words, the economy in the first thr...

5 Years After the Great Recession, Our Economy Still Far from Recovered

Andrew Fieldhouse | Posted 08.26.2014 | Politics
Andrew Fieldhouse

Five years after the end of the Great Recession, the economy is far from healthy. A tragic mix of budgetary blunders and congressional inaction deserve the lion's share of the blame for this.

Whoa! Whassup with That Big Negative Q1 GDP Revision?

Jared Bernstein | Posted 08.25.2014 | Politics
Jared Bernstein

Real GDP contracted at a 2.9 percent rate according to revised data released on Wednesday. That's contracted, as in went down. So, are we back in recession?

Stop Exporting Jobs With the Stroke of a Pen!

John Komlos | Posted 08.23.2014 | Business
John Komlos

By establishing a market for import certificates, firms would have powerful incentives to bring the trade deficit into balance. All foreigners sending goods to this country would have to buy the certificates in appropriate amounts from our exporters. Overall, trade would become balanced quickly.

Buy the Numbers? Our Confounding and Insufficient Government Statistics

Frank Islam | Posted 08.18.2014 | Politics
Frank Islam

We currently have a national system of leading indicators that does not include or count important things that can be counted. We need one that does.

France Won't Count Heroin And Prostitution In Its GDP

Reuters | Posted 08.18.2014 | Business

PARIS, June 18 (Reuters) - France will not implement new European Union rules allowing member countries to adjust their national economic output fig...

How Does a Film Industry in Nigeria Still Break All the Rules?

Juliet Asante | Posted 06.10.2014 | Entertainment
Juliet Asante

I am a gal torn between two worlds! Literally! Last week, I was at the Sundance gala in NYC that honored Glenn Close. The theme of the gala was 'Here ...

CHART: In Terms of Social Progress, America is Not #1 -- It's #16

Michael E. Porter | Posted 07.14.2014 | World
Michael E. Porter

As Americans, we like to think of ourselves as a world leader. Yet the new Social Progress Index, a comprehensive framework measuring numerous important social outcomes, paints a very different picture - the U.S. ranks only 16th of 132 countries measured, behind other large countries such as Germany, the UK, Japan and Canada. On Health and Wellness, for example, we spend more on health care than any country in the world but in terms of the outcomes achieved--such as obesity and life expectancy--we are number 70 in the world, way below our advanced economy peers.

Why Wages Are Low and Unemployment Is High - Tech vs. Toil

Bob Swarup | Posted 07.07.2014 | Business
Bob Swarup

Long tech and short toil will fuel growth tomorrow, but whether we are able to stomach the journey today is far more unclear. The impact of the unfolding clash between technology and toil will be bruising in the shorter term. Its resolution will be critical to the future of economic growth.

Inclusive Growth: Making it Happen

OECD | Posted 06.18.2014 | Politics
OECD

By Gabriela Ramos Inequality has widened, with detrimental effects on our economies and societies. Can inclusive growth work? Yes, though it requir...

Economy Sees Troubling Slow Down

Reuters | Lucia Mutikani | Posted 04.30.2014 | Business

WASHINGTON (Reuters) - The U.S. economy barely grew in the first quarter as exports tumbled and businesses accumulated stocks at the slowest pace in n...

Africa Is Richer Than You Think

Obadias Ndaba | Posted 06.29.2014 | World
Obadias Ndaba

Africa suffers from another kind of poverty: lack of accurate statistical data. And it is a tragic, messy situation. Nigeria nearly doubled the size of its economy overnight -- a whopping 89 percent -- surpassing South Africa to become Africa's largest economy.