articles tagged with: growth
Exploring the recent economic “upheaval” through the lens of history helps in at least two ways: 1) it assures us that humanity has faced similar dangers in the past and somehow lived to tell the tale, and 2) it suggests that the same entrepreneurial instincts that led us into trouble (yet again) also hold the key to restoring stability and growth. This speech by the President of the World Bank highlights a series of events that presaged the crisis — like the “emergence” of emerging economies, the popularity of leveraged finance, and growing imbalances of trade — focusing less on the outcome and more on the decades of unbridled expansion that inspired it…
financial crisis, in other words, world affairs »
Few economists now doubt that private household spending and corporate investment will rescue the economy on their own. The debate now lies in the scale and scope of the government’s intervention, as the only institution with the access to capital, macroeconomic scope, and investment horizon needed to jump-start the labor market, keep production cycles from seizing up, and create the necessary conditions for manageable lending and spending to resume.
Even market cheerleaders are struggling to find good news to rally around these days. With labor, capital, finance, real estate, and consumer markets all reeling from a half-decade of credit-fueled gluttony, and commodities markets cresting near all-time highs, it might seem a bit clichéd to highlight yet another bearish commentator — unless that bear is David Rosenberg, one of the few bulge-bracket economists to voice frequent and convincing skepticism about the “resilience” of modern capital markets and highlight the irrational optimism of the average investor.
history & society, in other words »
“During 1967 we were proud to identify ourselves as Canadians. In celebrating our country’s 100th birthday, we became conscious of the contributions made by our forefathers. Their courage, determination and perseverance have inspired us to shoulder our responsibilities as we enter a second century of progress.
“As young Canadians you have much to offer to the further development of our fair land. Endowed with a sound education and technical skills you are in a favourable position to extend the frontiers of knowledge. Each of you will have a share in promoting our rapidly expanding economy and in improving our standard of living. But your greatest contribution will lie in adherence to your ideals. The young people of to-day are deeply aware …