The kingdom of Bhutan does not measure GDP growth, but ‘gross national happiness‘ [GALLO/GETTY] New Delhi, India - The economic crisis, the ecological crisis and the food crisis are a reflection of an outmoded and fossilised economic paradigm – a paradigm that grew out of mobilising resources for the war by creating the category of economic “growth” [...]
A cold economy encrusted by a half-baked ideology Mon, 04/02/2012 – 14:43 — Anarcho Printer-friendly versionWho can dare suggest we are not all in it together? Cuts are being inflicted across all classes – the elite and companies get tax cuts, working class people get wage and benefit cuts. Even better, the [...]
Image 1 of 5 Oil fears were quelled today by Saudi Arabia’s production statement The FTSE and Dow suffer their worst day in two weeks as investors around the world sell shares amid concerns over China‘s economic growth and the impact of high oil prices on consumers and businesses.
Remember that China fills a curious role in Australian politics. As a country with a long history of racism particularly directed at the Chinese, Australia is trying to play on both sides of the net. On the one hand we are trying to say they as [...]
The Australian dollar fell to a six-week low. Photograph: Torsten Blackwood/AFP/Getty Images The global financial crisis has been blamed by Australia‘s government for helping to drive a sharp slowdown in economic growth at the end of an otherwise strong year. GDP grew just half as fast as expected in the final quarter of 2011, rising 0.4%, [...]
A study of countries that implemented ‘austerity plans’ showed they often weaken the economy [GALLO/GETTY] In an unequal economic situation totally geared to placing the maximum profits and assets of society into the hands of the elite austerity is a quick fix to maintain that very system and to place the burden for recovery on [...]
The ITEM club forecasts that unemployment will approach three million in 2012, representing 9.3% of the UK’s labour force Photograph: Danny Lawson/PA The UK is likely to already be in recession, according to two highly regarded economic forecasters, as developments in the eurozone paralyse the country’s recovery. The Ernst & Young Item Club and the [...]
Never-ending growth, while not sustainable, seems to be the focus of economists [GALLO/GETTY] Cambridge, United Kingdom - Modern macroeconomics often seems to treat rapid and stable economic growth as the be-all and end-all of policy. That message is echoed in political debates, central-bank boardrooms and front-page headlines. But does it really make sense to take growth as the [...]
India‘s economic growth slumped to a two-year low of 6.9 per cent in the second quarter [Reuters] India’s economy grew at its weakest pace in more than two years in the quarter that ended in September, revealing the heavy toll that rising interest rates and the stumbling world economy are having on Asia’s third-biggest economy. [...]
Bank of England slashes UK economic growth forecast Growth is grinding to a halt and GDP will only rise 1% in 2012, according to the Bank’s latest forecast reddit this Comments (156) Katie Allen guardian.co.uk, Wednesday 16 November 2011 12.42 GMT Article history You can view the video at http://www.guardian.co.uk/business/2011/nov/16/bank-england-uk-economic-growth-forecast David Freeman from the [...]
Quantitative easing boosted by £75bn by Bank of England The Bank of England has taken action as economic growth slows. Photograph: Oli Scarff/Getty Images The Bank of England has taken action to kickstart Britain’s flatlined economy by pumping another £75bn into the banking system, more than economists had expected. Faced with growing warnings of [...]
‘Massive jobs shortfall’ predicted for global economy ‘We must act now to reverse the slow-down in employment growth,’ International Labour Organisation (ILO) director general, Juan Somavia, Photograph: Martial Trezzini/EPA International Labour Organisation said the group of developing and developed nations had seen 20m jobs disappear since the financial crisis in 2008 reddit this [...]
French president Nicolas Sarkozy must convince financial markets that he can meet his fiscal targets. Photograph: Eric Feferberg/AFP/Getty Images The French economy failed to grow in the last quarter as households across the country cut their spending, in the latest sign that the European economy is stumbling. Data released by Eurostat, the region’s statistics body, [...]
The European Central Bank is vehemently opposed to restructuring insolvent entities’ debt [EPA] The Great Recession of 2008 has morphed into the North Atlantic Recession: it is mainly Europe and the United States, not the major emerging markets, that have become mired in slow growth and high unemployment. And it is Europe and the US that [...]
Risk of new financial crisis prompts RBA to leave rates on hold Peter Martin July 6, 2011 RBA leaves interest rate on hold Business Day reporter Chris Zappone looks at the Reserve Bank‘s decision to leave the cash rate at 4.75 per cent. Video feedback Video settings THE Reserve Bank no longer expects to raise [...]
