Economics

Foreign Affairs Article

Bridge to Somewhere

Author: Jose W. Fernandez

International development has moved beyond charity. Gone are the days when the United States would just spend its seemingly bottomless largess to help less fortunate or vanquished countries, as it did after World War II.

See more in United States; Infrastructure

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The Arctic Institute: The Future of Arctic Shipping: A New Silk Road?

Author: Malte Humpert

"Arctic shipping will remain of limited importance to China, as it will for the rest of the world. Future shipping in the Polar region will mostly consist of seasonal destinational transport, delivering supplies into the Arctic for its increasing economic activity and transporting the region's natural resources to markets in East Asia."

See more in Arctic; Trade

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Reuters: Assests of the Ayatollah

Authors: Steve Stecklow, Babak Dehghanpisheh, and Yeganeh Torbati

This three-part series from Reuters examines how Setad, a little-known organization controlled by Iran's Supreme Leader, grew into one of the most powerful property and corporate empires in Iran.

See more in Iran; Economics

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New York Times: Treasure Hunters of the Financial Crisis

Author: Peter Lattman

"Much attention has been lavished on the speculators who reaped huge paydays betting against the subprime mortgages that stoked the financial crisis. Doomsayers like the hedge fund manager John Paulson and the cast of characters in "The Big Short," the Michael Lewis book, saw calamity coming, and their contrarian bets delivered when the housing market collapsed.

But what about the big long? During the dark days of late 2008, while other investors dumped their holdings or sat paralyzed on the sidelines, who decided that it was time to put money on the line? Who bought low and then sold high?"

See more in United States; Financial Crises

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The Guardian: Is Economics a Science?

Author: Robert Shiller

"One problem with economics is that it is necessarily focused on policy, rather than discovery of fundamentals. Nobody really cares much about economic data except as a guide to policy: economic phenomena do not have the same intrinsic fascination for us as the internal resonances of the atom or the functioning of the vesicles and other organelles of a living cell. We judge economics by what it can produce. As such, economics is rather more like engineering than physics, more practical than spiritual."

See more in Global; Economics

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Project Syndicate: South Africa Breaks Out

Author: Joseph E. Stiglitz

"International investment agreements are once again in the news. The United States is trying to impose a strong investment pact within the two big so-called "partnership" agreements, one bridging the Atlantic, the other the Pacific, that are now being negotiated. But there is growing opposition to such moves."

See more in South Africa; International Finance

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Financial Times: Money Mirage Exposes Emerging Markets

Author: Gillian Tett

"As money has rushed into emerging markets in recent years, this has created an image of abundant liquidity. But this image may be dangerously illusory, some policy makers fear, as one of the little-noticed ironies of the 2013 financial system is that there may now be fewer–not more–shock absorbers in the markets than there were before 2008. This factor may explain why this summer's gyrations in emerging market assets were so dramatic."

See more in Global; Banks and Banking