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This story is a great example of how institutions can shape incentives, in order to change outcomes. The women of Barbacoas, Colombia have ended a three-month, 19-day “crossed legs” strike of sexual abstinence aimed at getting a road to their isolated town paved, after officials pledged to invest in the project. The money quote is: […]
This piece from Vox Eu provides a good run down of one of the issues of that exists when we have a central bank as a lender of last resort – moral hazard. The prospect of receiving liquidity support may distort banks’ risk-taking incentives to a much larger extent than has been acknowledged up to […]
Update: The protest that I’m arguing against in the first half of the post isn’t till the 5th of November (thanks Seamus!). However, my main critique in the second half applies to both protests insofar as the first protest is focused on inequality again. Personally I AGREE with a some of the issues being put […]
The US is pushing to start introducing duties on Chinese goods to make a “level playing field” given the currency “misalignment. Hold up a second. China maintains a “low” exchange rate by “saving” too much – and using that savings to do things like by US currency and bonds right. Any subsidy on Chinese exports […]
That is the Greek attitude it seems. They need to default, leave the Euro zone so that they can have their own currency (and the huge corresponding real wage cut). Surely it is obvious that the politicians, and the people, don’t have the will to actually sort out their problems. I want to know what […]
Via my boss: If Greece had a dollar for each time they were blamed for the global financial crisis, they’d be able to pay their bills I think this is worth keeping in mind. Although, if they could pay their bills there wouldn’t be a crisis. Then they wouldn’t be blamed for it. Then they […]