Steven Medema, author of The Economics Book: From Xenophon to Cryptocurrency, 250 Milestones in the History of Economics , reveals the very first of those milestones: Works and Days , an 8th century B.C. poem by Hesiod.
The poem differed from the famous epics of the era, like The Iliad and The Odyssey , by concerning itself with the proper way to manage a household, or an estate. Hesiod and his brother, Perses, had inherited a large estate from their parents, but Perses had squandered his half and was bribing local officials to let him seize Hesiod's share as well.
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Newsletter: Coronavirus Hits Global Oil Demand - Real Time Economics - WSJ
This is the web version of the WSJ's newsletter on the economy. You can sign up for daily delivery here. Significant Consequences Global oil demand is expected to fall in the first three months of the year—the first quarterly drop in more than a decade, according to a closely watched forecast from the International Energy […]
An adjustment programme - The IMF undergoes structural reform | Finance and economics | The
T HE IMF is familiar with unwelcome edicts. Its job as the world's lender of last resort often involves demanding reform. But its staff may be discovering the unpleasantness of being on the receiving end. Kristalina Georgieva, the fund's boss, is reorganising the institution.
Ms Georgieva took over as the IMF 's managing director in October 2019 on a wave of good publicity. As the first boss from an emerging market, she regaled audiences with her own experiences of an IMF programme—in the 1990s she saw hyperinflation in Bulgaria wipe out her mother's savings in a week.
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Letters: Migratory Bird Act; Cory Gardner; divided Democrats; trickle-up economics –
Current regulations should not be changed. They should remain in place to encourage industrial practices that safeguard wildlife, including birds, and to provide tough consequences for businesses that do not take responsible measures to avoid such harm. To provide comment on these proposed changes, submit your comments by March 19 to https://www.fws.gov/news/ShowNews.cfm?ref=u.s.-fish-and-wildlife-service-solicits-public-input-on-proposed-rule-and-&_ID=36517.
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Donald Trump is not a Christian, he has never read the Constitution, he is borderline senile, and he has sold out the American people to keep his own power — and Cory Gardner has as well. His vote this week has exposed his total lack of dignity and complete contempt for a fair trial. To think that one of the most powerful elected officials in the country is as corrupt as he is breaks my heart. I am livid.
As Coronavirus Stifles China, Economic Logjams Build Worldwide - The New York Times
In Australia, after hauling hundreds of thousands of tons of iron ore to China, returning freighters can face a 14-day quarantine before being able to reload.
BHP, which has headquarters in London and Melbourne and is one of the world's largest copper mining companies, has been in talks to possibly delay shipments to Chinese ports.
And from Qatar to Indonesia, exporters of liquefied natural gas face the prospect of disrupted shipments after a crucial importer in China is reportedly turning back deliveries after invoking clauses in long-term contracts that blame a "greater force."
Amid Three-Year-Long Controversy, Harvard Economics Prof.
Amid Three-Year-Long Controversy, Harvard Economics Prof. Li Withdraws from Singapore Criminal Proceedings
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Embroiled in a criminal case in Singapore over a private Facebook post in 2017, Harvard assistant Economics professor Shengwu Li announced last month he would no longer participate in court proceedings to avoid "dignify[ing]" government prosecutors' conduct.
Free exchange - Wage gains for low earners have helped sustain America's economic expansion |
A T 128 MONTHS and counting, America's economic expansion is the longest on record. Longevity has not come easily. The expansion trundled along despite global manufacturing downturns in 2016 and 2019, conflicts over trade, and a bout of monetary tightening by the Federal Reserve. The recovery ploughed ahead last year even as business investment decelerated and residential-construction investment shrank, thanks to rock-steady growth in personal consumption.
Since the turn of the millennium demand, not supply, has been the binding constraint on economic growth. Quiescent inflation suggests that spending has only rarely bumped up against the economy's production capacity over this period. Annual inflation has been just 1.8% on average, down from about 3.5% during the preceding 20 years and 4.5% in the two decades before that.
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