Antoine Hattemer

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Economists still can’t decide whether the minimum wage is a good thing

Economics suggests the minimum wage is a bad idea.<p>The job market, according to elementary economics, is like any other market. It works best if wages are set by supply and demand, not by any other factor, like government rules. Just as the government doesn’t set a minimum price for shirts or …

The Great Economics Debate

Friedrich Hayek and John Maynard Keynes worked at a time when the study of economics was concerned with society and its values. Richard Vedder reviews ‘Hayek vs Keynes’ by Thomas Hoerber.<p>Today economics is a fundamentally quantitative pursuit, dominated by abstract mathematics and complex modeling, …

Economics

Is it time for Labor to challenge the hands-off approach to industrial relations | Greg Jericho

If employer groups seem happier with the enterprise bargaining system than unions, maybe a shift in policy is needed<p>Greg Jericho is a Guardian Australia columnist<p>Record low wages growth has led the ALP and unions to believe that voters are willing for governments to take a more hands-on approach …

Price Index

Digital platforms force a rethink in competition theory | Financial Times

Anxiety about the health of competition in the US economy — and elsewhere — is growing. The concern may be well founded but taking forceful action …

Unemployment is falling, but so are wages. It's the latest of a very long slide | Greg Jericho

It is hardly news any more to say that we have a record low in wage growth. But it’s becoming a problem for workers, companies and the government alike<p>Greg Jericho is a Guardian Australia columnist<p>The latest wages figures released by the Bureau of Statistics revealed that Australians’ real wages …

Why workers are losing their share of Australia's national income | Greg Jericho

If you want to tackle inequality, the first thing you should do is join a union – a report puts the premium on wages for private sector union workers at 20%<p>Greg Jericho is a Guardian Australia columnist<p>It is now apparent that the issue of inequality is the economic topic of 2017. One of the …

The next big financial crash is on the horizon – and this is where it's going to come from

Not everything that goes wrong in an economy spurs a national, let alone a global, financial crisis and a subsequent recession on the scale of the …

North Korea's threats are driving down markets across Asia

It follows a sell-off in overnight markets, as global stocks got the jitters from rising levels of animosity between the US and North Korea.<p>Overnight there was more tough rhetoric from US President Donald Trump, who told reporters that his "fire and fury" comment "maybe wasn't tough</b> …

Macron's Missteps Could Prove Costly

In politics, holding the center ground might be a useful strategy for winning elections, but rarely for generating enthusiasm. Emmanuel Macron’s favorability ratings just dropped seven points, to a low 36 percent, according to a recentpoll for the HuffPost and CNews. If he's not careful, Macron may …

Employment Is Not the Key to Economic Growth

By: Frank Shostak <br>The US unemployment rate stood at 4.3% in July against 4.4% in the month before. The number of unemployed stood at 6.981 million – …

How the world's financial markets were rewired after the global financial crisis of 2007

by Adam Toze<p>It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world …

Meet the New Global Trade Leader: the European Union

<i>By Nicole Gunkle</i><p>Accounting for 23 percent of GDP worldwide, the United States has dominated the global economy for over 70 years. However, the US attitude towards trade policy has changed significantly since the new administration took office. President Donald Trump has removed the United States …

CEOs: if people aren’t spending, maybe you need to pay them more | Greg Jericho

Instead of looking at low wage growth and high debt as a cause of poor consumer confidence, business leaders have blamed the government. Please<p>Greg Jericho is a Guardian Australia columnist<p>This week two surveys on the economy showed very different views. The first on business confidence suggests a …

Have We Seen Peak Euro?

The euro is up 12% against the USD this year. We haven’t seen this kind of euro appreciation for quite some time, as the ECB was the last central …

Economic Data

Elusive Brexit clarity meets sober economic reality

© Reuters. Elusive Brexit clarity meets sober economic reality<p>By Padraic Halpin<p>DUBLIN (Reuters) - Last time British Prime Minister Theresa May …

Why solving productivity is crucial for growing firms

Small businesses should see productivity as a top priority, because it's a key means of improving their competitive advantage and generating growth.<p>“Productivity is a gift for rising living standards; perhaps the greatest gift. It is not, however, one that always keeps on giving, as recent events …

Is “Buying Local” Even Possible?

Is any product truly “local?”<p>The residents of my bucolic town of Duvall, situated in the foothills of the Cascade Mountains, love local food. …

The Soviets Tried to Run an Economy without Market Prices

Without prices, there was no way to discern economic truth.<p>In a recent <i>Free Thoughts</i> podcast, Cato scholar Andrei Illarionov, former economic advisor …

Turkey’s economy: The next casualty of Erdoğan’s state of emergency

For the past year, Turkish President Recep Tayyip Erdoğan has exploited his country’s state of emergency to rule by decree, purging government ranks, …

Crunch time for Donald Trump on trade | Financial Times

From its home on the banks of Mark Twain’s Mississippi river to its dedication to using American steel, the Winegard Company is the sort of …

NAFTA renegotiation talks to begin; what you need to know

Discussions to begin renegotiating the North American Free Trade Agreement (NAFTA) are set to begin Wednesday in Washington, D.C., when the United States, Canada and Mexico will come together to work out new terms for the trilateral trading pact.<p>Mexican officials have said the plan is to hold seven …

Trump Finds Tackling China Trade Is Harder Than It Sounds

President Donald Trump may be finding out that taking on China over trade is harder than it looks.<p>The White House is stepping up pressure over …

The Real Economic Cost Of Accepting Refugees

<i>Past waves of refugees had varied but limited effects on the jobs and income of workers in countries they moved to, finds Michael Clemens from the Center for Global Development. The impact of new arrivals in Europe will depend on governments learning the right lessons.</i><p>THE ARRIVAL OF more than a …

Wage growth will soon strengthen in line with improvements in productivity

We know the importance of "confidence" in driving the business cycle, but it doesn't just apply to businesses and consumers. It also applies to …