Tag Archive | USA

When the U.S. last defaulted

I am grabbing this across from a seperate blog (the history of economics playground) because I think this is something to bear in mind as the media enters its final stage of Debt-ceiling coverage over the coming fortnight. Of course there may be more, but for now… Two things seem to be taken for granted […]

Forget the Big Mac index, try penguin books instead

Wandering about New Delhi I am always struck by the way that the markets are organised. Special areas are set aside in each residential quarter (or ‘colony’ in the vernacular) and people know what markets are good for what. So off we went to get some books at Aurobindo Market, and if you want price […]

a new politics?

This week something exciting / scary / interesting / curious… well, something NEW is happening. And it’s happening on both sides of the Atlantic. In Kentucky, a Tea Party candidate has won a republican primary to run for Senate, and in the UK, a conservative-liberal democrat coalition has formed the first coalition government since WWII. […]

‘Middle class’ start at $40,000, so who’s poor?

Who the devil are the middle-class? Development people talk of the ‘rising middle class’, political theorists of the ‘middle-class voting blocks’, pundits of the increasingly discontent middle classes. But who are these people and am I middle class? Are you? Is that a bad thing? Going by Wikipedia there’s a number of different definitions, based […]

The USA is really big

I mean it’s economy is really big. Have a look at these very nice visualisations which make exactly that point from a GDP point of Pokies view: Or if you’re more interested in the other ‘powerhouse’ economies of the world, consider this: Big place and nice pictures to make that point…

Scary unemployment, worse than… well ever?

The guys over at Calculated Risk drew a very nice graph on Friday showing just how bad the job loss situation is getting in the US. The graph compares the peak month of employment and shines some light upon the effect the recession is having on the economy. Only yesterday I found myself watching an […]

Robert McNamara Passes Away

Robert McNamara, Secretary of Defense during the Vietnam War, head of the World Bank until 1981 and the Washington Consensus, President of Ford and WWII strategist passed away on the 6 July 2009. A controversial figure who had an incredible impact on both development economics and economics in general, he will probably always be remembered […]

Lord won’t you buy me, a Mercedes Benz

The U.S. and UK always seem a bit desperate to save their flailing car industry one way or the other and build some demand for new cars, but why? Why not take a page out of the Danish book and keep the old car but get better servicing and fuel efficiency. That would also require […]

High Income and bad health?

The World Banks’ arguments relating higher income to better health, in recent reports on Costa Rica and Cuba, whose infant mortality is lower than the US, doesn’t make sense. This paper addresses the vital question of how development institutions approach health, and highlights the “rather schizoid” approach in use today.