Economic Conditions

  • Is raising the minimum wage a real solution to a country's economic woes?

    Can the Price of a Big Mac in Denmark Explain the Living Wage?

    Bob Trebilock, editor of the Supply Chain Management Review, sent me an interesting email today that poses an interesting set of questions.

    Bob writes:

    “A friend sent me an email today with a link to a column by Peter Morici, a well-known conservative economist and writer (you see him on Xerox commercials wearing a bow tie) titled: Lift Vocational Education, not Minimum Wage, to Fight Inequality."

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  • Life Satisfaction Plateau Above a Specific Level of GDP Per Capita

    Is There a Better Economic Growth Measure than GDP?

    [quote] The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems – the problems of life and of human relations, of creation and behaviour and religion. [/quote]

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  • Weak economic data from the Eurozone and Asia pump up the dollar

    Dollar Strength Persists in the Wake of Weak Eurozone and Japanese Data

    Ahead of the ECB's meeting on Thursday where details of the ABS/covered bond purchase scheme are expected to be delivered, the market is particularly sensitive to developments that could spur a strong policy response.  Today's preliminary September CPI figures were seized upon to drive the euro to fresh lows, against both the dollar and sterling.  

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  • The Problem with ‘Static’ Development Models: by Michael Pettis

    The Problem with ‘Static’ Development Models: by Michael Pettis

    With a shift in economic strategy comes a radical change in the relationship between underlying growth variables and their impacts on growth. Instead of making predictions and estimations extrapolated from previous forecasts – the problem with most development and growth models – a better and more meaningful understanding of China, and other emerging or international markets for that matter, can be achieved if research and analyses were conducted in a grounded and sound manner.

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