THE ECONOMY The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood.
Europe debt crisis rolls on as Irish bailouts grow Economist Lucey said Ireland was needlessly tying its future fortunes to keeping all senior bondholders happy. He said bondholders should be forced, on a case-by-case basis, to accept punishment for the risks they took in loaning to Irish banks. “We haven’t been told who owns this […]
The Committee that awards the Nobel Peace Prize likes springing surprises. When Kenyan environmentalist Wangari Maathai won in 2004, the Committee explicitly linked peace with concerns about the state of our planet’s ecology, a concept that was familiar in environmental circles but which was rarely discussed elsewhere.
Asia is set to lead the world out of the global financial crisis in spite of the slow recovery in the US and Europe, according to the latest forecasts by the Asian Development Bank. In a dramatic contrast to its view in March, when it slashed 2009 growth forecasts for Asia excluding Japan from 7.2 per cent to 3.4 per cent, the ADB on Tuesday said the region would grow more strongly than expected both this year and in 2010.