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Tag Archives: Discussion

Economic Lessons from heavy crowding at Mt. Everest

Jim O’Neill in this piece applies ecomomic lens to the heavy overcrowding seen at Mt Everest this year: Beyond specific conditions such as the narrowness of the trail, Everest’s overcrowding problem is not so different from many other economic and social challenges that policymakers confront, namely an imbalance between supply and demand, and possibly poor regulation. One example, of special concern to me, is the market for antibiotics, which is failing because the development of new...

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Facebook’s cryptocurrency Libra

FB’s crytpcurrency has been much talked about. The whitepaper has just been released. This is the technical version, which requires know how of computing. Advertisements This entry was posted on June 18, 2019 at 7:50 pm and is filed under Central Banks / Monetary Policy, Discussion. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or...

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Fiscal Money Can Make or Break the Euro

As European central bank controls all monetary operations, the constrained European governments are trying to figure ways to create money on their own. Italian government is planning to issue short-term treasury bills or mini-BOTs which has led concerns over creation of parallel currency and give government avenues to spend. Yanis Varoufakis, former FInance Minister of Greece in this piece explains how in his tenure he had proposed a variant of this proposal. But it was aimed at saving...

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100 years of first transatlantic flight..

Amazing to note this. Central Bank of Ireland has issued a coin commemorating the 100 years of first transatlantic flight. As per wikipedia: British aviators John Alcock and Arthur Brown made the first non-stop transatlantic flight in June 1919.[1] They flew a modified First World War Vickers Vimy[2] bomber from St. John’s, Newfoundland, to Clifden, Connemara, County Galway, Ireland. The flight started on 14 June fom Canada and landed in Ireland on 15 June in 16 hours. History.com has a...

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Why Adam Smith ideas mean different things for different people

Nice piece by Glory M Liu, a postdoctoral research fellow at the Political Theory Project at Brown University. She is currently working on a book project titled ‘Inventing the Invisible Hand: Adam Smith in American Thought and Politics, 1776-Present’. Liu argues how Smith leads to fight between people: People like to fight over Adam Smith. To some, the Scottish philosopher is the patron saint of capitalism who wrote that great bible of economics, The Wealth of Nations (1776). Its...

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12 Quotes from Leo Tolstoy on Truth, Violence, and Government

Nice compilation by Jon Miltimore: “All violence consists in some people forcing others, under threat of suffering or death, to do what they do not want to do.” – The Law of Love and the Law of Violence (1908) “The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid...

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30 years of Banca d’Italia (Central Bank of Italy) in Japan

Apart from analysing commercial banks opening branches in foreign countries, it is also interesting to see central banks opening branches in foreign countries. Central banks open branches in foreign countries for exchanging views and liaisoning. Bank of Italy opened its branch in Japan in 1989. They reflect on the 30 years of completion. BoJ Governor Kuroda gives a speech and Ignazio Visco, Governor of the Bank of Italy, shares his view. Advertisements...

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Undermining central bank independence: Case of Austria

Small European countries is where the action is. This blog has pointed cases of how governments are trying to undermine central bank independence in Cyprus, Slovenia and now Austria. In Austria, the Government wants to take the bank supervision powers away from the central bank to Financial Market Authority: The draft law proposes a reform of the structure of the banking and financial market supervisory regime in Austria. According to the explanatory memorandum, the draft law aims to...

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100 years of Treaty of Versailles: Lessons for today?

The treaty was signed on June 29, 2019 and ended World War – 1. Barry Eichengreen in this piece says the treaty led to inward orientation, a strategy which backfired eventually. on June 29, 1919, a century ago, the Treaty of Versailles was signed, officially ending World War I. This centennial is no cause for celebration, given how dismally the treaty failed at achieving its aims. It did not seal an enduring peace. It did not inaugurate an era of prosperity in Europe or worldwide. It...

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The Boom in Benjamins: What makes the US$100 bill so popular?

Melinda Weir of IMF points how the USD 100 bills remain highly popular. A CURIOUS thing recently happened in US currency: in 2017 the $100 bill overtook the ubiquitous $1 bill in circulation volume, for the first time in history. In other words, the most valuable US banknote became the most widely circulated. (The $20 bill is in third place.) According to the Federal Reserve, there are more $100 bills circulating now than ever before, roughly doubling in volume since the global...

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