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by Joseph Joyce Is There a Future for FDI? Among the economic consequences of the coronavirus pandemic will be a drop in foreign direct investment activity. The latest issue of the OECD’s FDI In Figures forecasts a decline of more than 30% in 2020 in FDI flows, even under an optimistic scenario of a recovery in the second half of this year. The falloff reflects not only the deterioration in global economic activity, but also the responses of firms to...

from Lars Syll [embedded content]

Voters typically hold the President and his party responsible for the state of the country at the time of elections.  This means that Trump and the Republicans have a strong incentive to support an aggressive federal response to the Covid-19 epidemic and the economic collapse.  Under normal rules of political engagement, this should allow the House Democrats to extract concessions from the Republicans in negotiations over the government’s response to the...

I frequently read a debate about whether, when assessing anti covid 19 performance, one should look at deaths per capita or deaths on days since 1000 deaths. Like everything involving Americans, this has become a pro v contra Trump debate — clearly he wants deaths per capita (and the absolute number of tests performed). The arguments are as follows. for number of deaths on time since a certain number was reached, it is argued that all countries are at...

by New Deal democrat Weekly Indicators for April 27 – May 1 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. As with the Great Recession, once the economy has gone over a cliff, the next question is, where is the bottom of the cliff? At least on a weekly basis, the data didn’t get materially worse in a YoY sense this week. Is that the bottom of the cliff? Or are there further, worse, second order effects to come? We’ll start to get...

from David Ruccio   source When social solidarity is essential, it’s common to hear pious sermons against class warfare. Unfortunately, there is a class war. And its victims, so many of them front-line workers, didn’t start it. — E. J. Dionne Jr. New research confirms what we’ve all been seeing for the past couple of months: the lowest paid, most precarious workers are the ones who are being forced to face the choice between their jobs and their lives. And, looking forward, as those in...

from Asad Zaman It is an Obvious Truth that economic theories analyze specific historical economic systems. In nomadic societies, there is no production. Economics would be about finding plants, game, and moving according to seasons. In agricultural societies, private property becomes important. Those who plant need to have rights to harvest their plantings. Feudal Societies are mostly self-sufficient in commodities and operate without money. These are barter societies. Money is not a...

from Lars Syll As yours truly has reported repeatedly during the last couple of years, university students all over Europe are increasingly beginning to question if the kind of economics they are taught — mainstream economics — really is of any value. Some have even started to question if economics is a science. At least two Nobel laureates in economics have tried to respond. This is Robert Shiller‘s answer: Critics of “economic sciences” sometimes refer to the development of a...