If consumers begin to be fearful and conserve the government takes action to overcome this mental condition. How? Expand credit. If consumers then become to euphoric and spend to much the government takes action to overcome this mental condition. How? Restrict credit. Consumers spend very little time in the middle. Mathematics should be left to… Read More »
Reuters: Nigeria’s Senate approved a 4.608 trillion naira budget proposal for 2010 on Thursday, up from an initial 4.079 trillion naira spending plan proposed by the presidency. The budget assumes an average oil price of $67 per barrel and oil production of 2.35 million barrels per day. It also pegs the exchange rate at 150 naira… Read More »
Reuters: The bank expects economic expansion of 4.6 percent in 2011 and estimates the region grew by between 1.0 and 1.1 percent in 2009, said Andrew Burns, the bank’s manager of global macro economic trends.
Our hunch is that its place [culture in development] has already shifted since we wrote Seeing Culture Everywhere. On the one hand, there is China and David Brooks. On the other, there is a new trend in “development thinking” around the World Bank and elsewhere (like Narayan. Pritchett and Kapoor’s Moving out of Poverty and Jessica… Read More »
From the ASA blog, by Keith Hart: For Marcel Mauss, the years 1920-25 were packed and fruitful. His political party and the Left in general had a real shot at winning power in France and did so in 1924. Two-thirds of his occasional political pieces (Écrits politiques) were written in this period. He was able… Read More »
The first in a series of posts on the financial crisis by economic anthrologist Keith Hart, at the ASA Globalog. The series will engage: long-run historical questions like what this crisis is, with the news as it unfolds in real time and with issues that matter practically to people who don’t have to be reminded… Read More »
It is ‘the study of how to get rich without knowing how’. What must we do to end world poverty? At last, an answer: OK, that’s too good to be true. There has been a search for sixty years for the right answer. Now most economists confess ignorance how to raise the rate of economic growth… Read More »
1. Is economics as a subject of study still attractive? 2. Is there a role for industrial policy in the developing world? 3. A collection of links to articles on What’s Wrong with Macroeconomics? 4. Financial crisis in Africa? Dr. Okonjo Iweala of the World Bank presents an analysis 5. Joseph Stiglitz on GDP fetishism… Read More »
Maybe a fallout of the current global crisis is a kindler, gentler IMF. The Fund just published a staff position note titled Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis The executive summary: The global financial crisis poses significant challenges to fiscal policies in Sub-Saharan African countries. Growth will… Read More »
The World Bank has just published the Global Economic Prosect for 2009. It is titled Commodity at the Crossroads. The full document is available here.