By Hasan Cömert & T. Sabri Öncü This article first appeared in the Economic & Political Weekly on 18 March 2023. This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing...

By Hasan Cömert & T. Sabri ÖncüThis article first appeared in the Economic & Political Weekly on 18 March 2023.This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing on...

Following the latest banking crisis, monetary authorities should seriously consider how modern digital technologies could be used to avert such problems in the future. A central bank digital currency would both eliminate many barriers to financial transactions and end the risk of bank runs once and for all.... Project SyndicateThe Simplest Fix for BankingJan Eeckhout | Professor of Economics at Universitat Pompeu Fabra

I told you not to pay attention to these manic Fed-driven moves.

The war game just changed big time, actually for the first time since the dominance of sea power and then air power. This transition makes a great deal of very expensive military equipment obsolete. Moreover, the West is following in this domain, and not leading.This article does not mention another emergent military domain, space. Spending on missiles, missile defense, and space capabilities will shape the bulk of military spending, inclduing research and production, going forward.This will...

Yves here. I’m preserving the original OilPrice headline since it invokes one of the themes of a new pro-fossil-fuels messaging campaign, that migrating to cleaner energy sources is contrary to energy security. It’s not hard to see that message hitting home with a lot of voters, particularly ones that live in suburbs or other area with poor public transportation, or in parts of the world where there’s not enough sun for rooftop solar to be anything more than a secondary power source.One...

I had a sense of déjà vu this week when I read the latest release from Australia’s Productivity Commission – Advancing Prosperity – which was released on March 17, 2023 and is a five-yearly exercise conducted by the Commission on behalf of the Australian government. Frankly, if the government was looking to cut spending while advancing material well-being in the community, they could simply tell the Commission to cease doing this work and instruct the staff involved to get real jobs and do...

Taking a one day break from the more technical stuff. I ran across this story a couple(?) maybe more days ago. The first thing which came to mind was the Tuskegee Syphilis Study as conducted by the PHS’ Center for Disease Control in Atlanta (AP). Some will say this is not as serious, they were prisons. they agreed to take the drugs, etc. The point here is we used our power to administer what they thought would be of help to them the same as...

The Exxon Tiger Rampant, Bad Crow Review, Weldon Berger Links are at the end, doing linky stuff. _________________________________________________________________ “confidence is high in the oil and gas world” __________________________________________________________________ And why not? Record profits, massive new drilling projects in delicate environs, a presidential pronouncement validating decades more of fossil fuel burning and...