Global Financial Crisis
An election with only one candidate? Sounds like a stitch-up. But with nominations just closed, the one candidate in the forthcoming poll, Madame Lagarde, will be re-elected as Managing Director of the IMF regardless.
A collective effort to deliver a policy upgrade is needed urgently to face up to rising challenges in an uncertain world, to ensure financial stability and better growth prospects. Three percent of global output is at stake.
Business Training for Youth in Kenya. Patrick Jerome is the founder of SOY (Save Our Youths) which empowers youth in the
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THE BIGGEST HUMANITARIAN CRISIS IN RECENT TIMES It is one of the largest refugee exoduses in recent history according to
LONDON -- It is often said that we live in a culture of instant gratification -- and this is especially true of financial markets. The debt crisis was a spectacular example. Upfront profits blinded over-confident investors to long-term risk -- with disastrous consequences. Since the crash, lack of confidence has given rise to a different type of short-termism.
If there is no sufficient effort to tackle this growing legitimacy crisis through crowdsourcing or other strategies, the future is likely to be very bleak. The gap between the government and citizens will continue to widen, leading to these possible futures in Brazil.
My personal belief that China is heading for a major crash, and as individuals it is critical for us to be on the right side of that trade. Friedman believes, as do I, that social inequality is a big reason why China will not become the dominant economic player of the 21st century.
ATHENS -- The IMF and Greece's other creditors have assumed that massive fiscal contraction has only a temporary effect on economic activity, employment and taxes, and that slashing wages, pensions and public jobs has a magical effect on growth. This has proved false. Indeed, Greece's post-2010 adjustment led to economic disaster -- and the IMF's worst predictive failure ever.
We have to remember that the same banks responsible for so much of the financial strife, confusion, and crisis are guided by social forces. When we believe our financial systems are beyond our control, we neglect our responsibility to those most impacted by its flaws.
Many who look to understand the incredible wealth gap are quickly lost in the exclusive language of finance. When it comes to the inner workings of financial institutions, the rise and fall of markets, the tangled web of international debt, or even just our own personal finances, most of us are lost. In short, we are financially illiterate.
Since last year there has been much talk of possible financial stress stemming from increased debt leverage in non-financial corporates of emerging markets economies. A recent study has brought to light some key evidence on the Latin American case.
Naturally, the President's recent pitch for a major expansion in community college funding has been greeted with equal parts praise and criticism.
Syriza's call for a "European debt conference" to renegotiate the current loan debt is certain to provoke policy conflict, but may also facilitate broader discussion which may, in the best case, benefit EU integration in resolving an untenable Greek debt situation.