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The Latest Breaking News from Economics

Hayek Was a True Liberal

A new biography tells the story of the economist’s early life and career.

Reason

How Janet Yellen found her match in economics and life with husband George Akerlof

The treasury secretary's partnership with her husband has hugely influenced her rise to the most powerful woman in U.S. economic policymaking history.

Fortune

Rishi Sunak – live: Brexiteer Owen Paterson takes government to EU human rights court

MP claims lobbying investigation damaged his reputation unfairly

The Independent UK

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Editorial: GOP economics still reveres the disproven 'Laffer curve.' Why can't they learn?

Arthur Laffer, the Reagan-era guru of trickle-down economics, was unchastened by the deficit explosion back then, which effectively disproved his theory that cutting taxes on the rich would increase government tax revenue. According to a recent Washington Post writeup, Laffer continues to be unchastened now, even as Britain reels from…

St. Louis Post-Dispatch

China COVID cases rise, hard-hit Beijing tightens entry rules

China's capital warned on Monday that it was facing its most severe test of the COVID-19 pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher in Beijing and nationally.

Reuters

Verdict Against Auburn University in Economics Professor's First Amendment Retaliation Lawsuit

In Stern v. Roberts, a jury just held that Auburn University had retaliated against Prof. Michael Stern, a tenured economics professor, based on his speech; the jury awarded $145K in compensatory damages and $500K in punitive damages. Here are the factual allegations from the earlier opinion denying summary judgment: In…

Reason

Qatar's goals: Using the World Cup to diversify the economy

This week, we're focusing on Qatar and asking what the economic impact of hosting the FIFA World Cup could be. Can this be a transformative event for the gas-dependent country? Or will it be a financial abyss worth an estimated $200 billion? We ask Alexis Antoniades, an economics professor at…

France 24

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Autumn statement 2022: experts react

UK chancellor Jeremy Hunt laid out his plans for the British economy today. The statement was made against a backdrop of a more than 40-year inflation high and recession warnings from the Bank of England.

The Conversation

Myanmar to release 6,000 prisoners, including former British envoy

YANGON: Myanmar's military said on Thursday it will release almost 6,000 prisoners, including a former British ambassador, a Japanese journalist and an Australian economics adviser in a rare olive branch from the isolated junta.

Bangkok Post

Austerity 2.0 is not a necessity – it’s a choice. Why won’t the media say so?

There was a clear bias towards the City in coverage of the 2008 crash. We can’t afford for it to happen again, says Guardian columnist Owen Jones

The Guardian - UK

Herman Daly obituary

Pioneering ecological economist who foresaw the catastrophic effects of unlimited economic growth

The Guardian - UK

The inconvenient truth of Herman Daly: There is no economy without environment

Herman Daly had a flair for stating the obvious. When an economy creates more costs than benefits, he called it “uneconomic growth.” But you won’t find that conclusion in economics textbooks. Even suggesting that economic growth could cost more than it’s worth can be seen as economic heresy.

The Conversation

Brazil’s da Silva forms mixed economics team for transition

President-elect Luiz Inácio Lula da Silva’s transition has added a team of economists that includes at least two members likely to allay market worries about potential business and financial policies the incoming leftist leader might be considering

The Independent UK

'Sunak and Hunt are using Tory voodoo economics that will cut UK's legs off'

Prime Minister Rishi Sunak and Chancellor Jeremy Hunt's upcoming mini budget is set to be a disaster and shows they haven't learnt anything, writes Kevin Maguire

Daily Mirror

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Evening Standard

Matt Hancock in the jungle: how did it come to this?

He rose quickly through the Tory ranks to take on the vital role of health secretary during a global pandemic. He’ll appear on national TV this weekend (probably) eating kangeroo testes. So, what happened, asks Amy Francombe

Businessweek

A Practical Way to Make Sense of All the Shocks Hammering the Global Economy

Brexit, the US-China trade war, Russia’s invasion of Ukraine—more such geopolitical surprises will continue the economic upheaval.

The Conversation

Burglars steal more gold when the price is high – new research

Are criminals rational? In his groundbreaking work of 1968, Gary Becker argued that they are. The American economist, who would go on to win the Nobel prize in economics in 1992, theorised that individuals engage in crime only if the returns are greater than the returns from engaging in legal…

The Guardian - UK

The UK economy is about to be thrown into a black hole – by its own government

It fits the definition of madness to propose more austerity. But that, along with higher interest rates, is what’s coming, says Guardian economics editor Larry Elliott

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ABC News

Anthony Albanese defends decision for no 'cash splash' in budget

Prime Minister Anthony Albanese says a budget cash handout would have been "cheap politics and hugely expensive economics".

Los Angeles Times

Commentary: Liz Truss’ downfall won’t end trickle-down economics

With former British Prime Minister Liz Truss’ free-market reforms having severely wounded the British economy, a chorus of pundits have claimed that the end of free-market thought is upon us. Who could at this point be so foolhardy as to claim that simply cutting taxes for the rich — and…

The New Daily

Michael Pascoe: Innocent victims of the great inflation conundrum

The Economics 101 picture the Reserve Bank paints of inflation fighting doesn’t tell anywhere near the full story.

Al Jazeera

Costa Rica’s World Cup fans hit by global economics

Surging interest rates and depreciating currencies may force some to cancel their travel plans.

The Guardian - UK

Economist Ha-Joon Chang: the Tory mini-budget was like trying to bring back terrible Tex-Mex

In a mouth-watering new book, the South Korean academic fuses his twin passions of food and economics to interrogate capitalism

Foreign Affairs

After Neoliberalism

All economics is local.

The Conversation

Scottish independence: how Nicola Sturgeon's pledge to rejoin the EU could impact a referendum vote

In its new white paper on the economics of independence, the Scottish government made it clear that rejoining the EU was central to its vision of how Scotland could prosper outside the UK. Rather than simply being a question of whether Scotland should be part of the UK, the first…

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