CAMBRIDGE – Why are stock-market valuations soaring when the real economy remains so fragile? One factor has become increasingly clear: The crisis has disproportionately affected small businesses and low-income service workers. They are essential for the real economy, but not so much for equity markets. True, there are other explanations for today’s lofty valuations, but each has its limitations
12 октября 2020
5 мин.
5327
CAMBRIDGE – The next few months will tell us a lot about the shape of the coming global recovery. Despite ebullient stock markets, uncertainty about COVID-19 remains pervasive. Regardless of the pandemic’s course, therefore, the world’s struggle with the virus so far is likely to affect growth, employment, and politics for a very long time
11 сентября 2020
5 мин.
6609
CAMBRIDGE – Will COVID-19 finally trigger a long-overdue technological disruption of higher education? Throughout the world, sudden mid-semester lockdowns aimed at combating the pandemic forced universities to switch to distance learning almost overnight. But while this rapid transition has been tough for faculty and students alike, some good might yet come of it
09 июля 2020
5 мин.
6266
CAMBRIDGE – For those who viewed negative interest rates as a bridge too far for central banks, it might be time to think again. Right now, in the United States, the Federal Reserve – supported both implicitly and explicitly by the Treasury – is on track to backstop virtually every private, state, and city credit in the economy. Many other governments have felt compelled to take similar steps. A once-in-a-century (we hope) crisis calls for massive government intervention, but does that have to mean dispensing with market-based allocation mechanisms?
14 мая 2020
4 мин.
7157
CAMBRIDGE – It is too soon to predict the long-run arc of the coronavirus outbreak. But it is not too soon to recognize that the next global recession could be around the corner – and that it may look a lot different from those that began in 2001 and 2008
06 марта 2020
5 мин.
5248
LONDON – Will the next recession be worse than you think? With the major central banks having little space for further interest-rate cuts, might the next cyclical downturn become a crash? In theory, fiscal policy can go far in filling the void. The past decade has seen a rise in fiscal evangelism among many economists and policymakers, and it is indeed likely that fiscal fine-tuning will be widely tested in the next downturn. Are they right?
10 февраля 2020
5 мин.
16749
CAMBRIDGE – While denizens of the world’s wealthiest economies debate the fate and fortune of the middle class, over 800 million people worldwide have no access to electricity
22 января 2020
5 мин.
7462
CAMBRIDGE – With interest rates on government debt at multi-decade lows, a number of leading economists have argued that almost every advanced economy can allow debt to drift up toward Japanese levels (over 150% of GDP even by the most conservative measure) without any great concern about long-term consequences. Advocates of much higher debt might be right, but they tend to downplay or ignore everything that can go wrong
18 декабря 2019
5 мин.
14497
The chess world is reeling from an accusation of cheating that has generated headlines around the world, even drawing a response from Elon Musk
21 октября 2022
4 мин.
81303
The epic collapse of wunderkind Sam Bankman-Fried’s $32 billion crypto empire, FTX, looks set to go down as one of the great financial debacles of all time
06 декабря 2022
4 мин.
65900
The tentative deal that was just struck to raise the United States’ debt ceiling won’t make the problem go away
10 июня 2023
4 мин.
44226
It is now past time to revisit the widely prevailing “free lunch” view of government debt
12 декабря 2023
5 мин.
43755
Over the past few years, China has significantly expanded its economic footprint in South America, overtaking the United States as the continent’s largest trading partner
17 мая 2023
5 мин.
43440
Who should pay for Ukraine’s postwar reconstruction?
27 августа 2023
4 мин.
40183
The global economy was full of surprises in 2023
10 января 2024
5 мин.
34400
A month into 2024, the consensus forecast for the global economy remains cautiously optimistic, with most central banks and analysts projecting either a soft landing or potentially no landing at all
02 февраля 2024
5 мин.
31782
After 15 years of economic upheavals, from the European debt crisis to the COVID-19 pandemic and Russia’s invasion of Ukraine, the European economy appears set to underperform in 2024. But are appearances deceiving?
15 апреля 2024
4 мин.
20691
LONDON – Will the next recession be worse than you think? With the major central banks having little space for further interest-rate cuts, might the next cyclical downturn become a crash? In theory, fiscal policy can go far in filling the void. The past decade has seen a rise in fiscal evangelism among many economists and policymakers, and it is indeed likely that fiscal fine-tuning will be widely tested in the next downturn. Are they right?
10 февраля 2020
5 мин.
16749
Who should pay for Ukraine’s postwar reconstruction?
27 августа 2023
4 мин.
40183
In the surprise hit movie “Crazy Rich Asians” (based on a 2013 Kevin Kwan novel), a New York University economics professor (Rachel), travels with her boyfriend to Singapore to meet his family. There, she learns, apparently for the first time, that her significant other (Nick) is heir to one of Asia’s largest fortunes and has a mother intent on making sure her son does not marry a commoner, Asian-American or not
24 октября 2018
5 мин.
8581
LONDON – Though US President Donald Trump tends to grab most of the headlines, he is hardly a global exception. Populist autocrats have enjoyed a breathtaking rise to power in countries around the world, and nowhere is the trend more pronounced than in Latin America following the elections of Mexico’s leftist president, Andrés Manuel López Obrador (AMLO), and Brazil’s right-wing president, Jair Bolsonaro. Americans are right to complain about Trump’s autocratic tendencies, but, as former Chilean Finance Minister Andrés Velasco would remind them, Trump is a mere apprentice compared to Latin America’s populists
10 июня 2019
5 мин.
8377
A month into 2024, the consensus forecast for the global economy remains cautiously optimistic, with most central banks and analysts projecting either a soft landing or potentially no landing at all
02 февраля 2024
5 мин.
31782
With so much angst about artificial intelligence and the future of work, the recent world chess championship in London offers some hope
11 декабря 2018
5 мин.
8396
If you ask most central bankers around the world what their plan is for dealing with the next normal-size recession, you would be surprised how many (at least in advanced economies) say “fiscal policy.” Given the high odds of a recession over the next two years – around 40% in the United States, for example – monetary policymakers who think fiscal policy alone will save the day are setting themselves up for a rude awakening
17 января 2019
4 мин.
11135
CAMBRIDGE – Displaying a degree of courage and clarity that is difficult to overstate, US senator and presidential candidate Elizabeth Warren has taken on Big Tech, including Facebook, Google, Amazon, and Apple. Warren’s proposals amount to a total rethink of the United States’ exceptionally permissive merger and acquisition policy over the past four decades. Indeed, Big Tech is only the poster child for a significant increase in monopoly and oligopoly power across a broad swath of the American economy. Although the best approach is still far from clear, I could not agree more that something needs to done, especially when it comes to Big Tech’s ability to buy out potential competitors and use their platform dominance to move into other lines of business
09 апреля 2019
4 мин.
10955
The global economy was full of surprises in 2023
10 января 2024
5 мин.
34400
CAMBRIDGE – Why are stock-market valuations soaring when the real economy remains so fragile? One factor has become increasingly clear: The crisis has disproportionately affected small businesses and low-income service workers. They are essential for the real economy, but not so much for equity markets. True, there are other explanations for today’s lofty valuations, but each has its limitations
12 октября 2020
5 мин.
5327
A decade on from the 2008 global financial crisis, policymakers constantly assure us that the system is much safer today. The giant banks at the core of the meltdown have scaled back their risky bets, and everyone – investors, consumers, and central bankers – is still on high alert. Regulators have worked hard to ensure greater transparency and accountability in the banking industry. But are we really all that safe?
08 февраля 2019
4 мин.
9863
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28 июля родились
Кайрат Сатылганов
независимый директор АО «Mega Center Management»
Болат Палымбетов
государственный деятель, экс-уполномоченный по защите прав предпринимателей РК
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