Economics

Hammond to borrow extra £90m after lower productivity forecast

OBR warns chancellor faces long period of sluggish wages growth that will dent tax receipts and increase borrowing<p>Philip Hammond must borrow an extra £90bn over the next five years after the Treasury’s independent forecaster downgraded productivity growth.<p>The Office for Budget Responsibility (OBR) …

Business

The theory behind Trump’s tax cuts is exactly what gave us the failed Bush economy

An influx of foreign hot money isn’t what we need.<p>The last time Republicans obtained unified control of the federal government, after the 2002 midterms, they immediately set out to pass a large tax cut on dividend and capital gains income. The theory was that by making it more lucrative to invest …

Business

Out of 42 top economists, only 1 believes the GOP tax bills would help the economy

But all of them think it will increase the debt.<p>The University of Chicago’s Booth School of Business runs an ongoing survey of top economists spanning a wide number of specialties and political outlooks. The panel includes multiple Nobel Prize winners, White House veterans, and former presidents of …

Politics

Score One for the Experts as Brexit Costs Grow

The vote to leave the EU is taking an economic toll on Britons, before the separation even begins.<p>In the run-up to the U.K.'s 2016 referendum on leaving the European Union, and immediately after it, the "remain" campaign was much derided for fear-mongering. People are sick and tired of experts …

Business

Pound plummets during Hammond’s Budget announcement

<b>The cost of the pound has drastically fallen as Chancellor Phillip Hammond announces the 2017 Budget.</b><p>Financial experts say a so far lacklustre boost …

Philip Hammond

Budget 2017: Philip Hammond could not disguise Britain’s dismal economic outlook

For the first time in modern history, British economic growth is predicted to fall below 2 per cent in every forecast year.<p>The "new sick man of …

Philip Hammond

The other digital divide: Italy’s web tax 2017-11-24 | Espresso

Nov 23rd 2017<p>Continue reading today's edition<p>Download the app here. Five stories, five days a week, straight to your iPhone or Android smartphone.

Italy

Goodbye Net Neutrality; Hello Competition

In the short term, the shift by the FCC does not mean the immediate emergence of a free marketplace for Internet service. But it is a step. If we let …

Net Neutrality

The three challenges facing Saudi Arabia’s crown prince

George Abed<p>The anti-corruption crackdown and arrests ordered by Saudi Arabia’s crown prince Mohammed bin Salman and subsequent demands by the …

Saudi Arabia

Socialism and Capitalism Work Together

Redistribution policies have helped to lift billions of people out of extreme poverty.<p>In a recent article, I gave free markets much of the credit for the explosion of human well-being that has occurred during the past three or four decades. To some, this sounds like a story of socialism’s failure. …

Social Justice

Philip Hammond doesn't want you to know that we might be heading towards another recession

The trick to understanding British Budgets is to look at the numbers rather than listen to the words. To say that Chancellors lie would be unfair, …

Philip Hammond

Why didn't Hammond get serious about productivity?

Most Budgets are all about the rabbits in the hat. This one was all about the elephant in the room.<p>That elephant being, of course, the socking great …

Philip Hammond

Budget 2017: the UK chancellor has played his bad hand cleverly

The embattled chancellor was subject to conflicting pressures when he presented his Budget. Philip Hammond’s colleagues wanted him to respond to the …

Philip Hammond

The End of Cash? Beware sleepwalking into a world without hard currency

As global wealth has accumulated over time, so the demand for hard cash has waned. A mere eight per cent of the world’s money is in notes and coins, …

Banking

Sexual-harassment scandals imperil Democrats more than Republicans

WHEN asked how he went broke, Mike Campbell, a drunken lout in Ernest Hemingway’s “The Sun Also Rises”, replies, “Two ways...Gradually and then …

Feminism

Texans Should Think About Texas’ Economic Future

With greater investment in human and physical infrastructure, the entire Texas economy will flourish.

Texas

The UK has officially resigned itself to dismal productivity growth

In the UK, productivity growth has been almost non-existent for the past decade. But this didn’t stop the government from persistently forecasting that this would correct itself in the near future.<p>No longer.<p>Before the global financial crisis, productivity gains propelled the UK economy. After …

Business

How demographic change will drive world trade

in Tokyo<p>In 1950, the world’s population was 2.5bn. More than 20 per cent of those people lived in Europe, and along with the 7 per cent living in …

Geography

Are Markets Really As Calm As They Seem?

<i>By Thorsten Polleit</i><p>Indicators for financial market "stress" have reached their lowest levels in decades. For instance, stock market volatility has …

Economy

How Free Trade Helps Americans Have Higher Incomes and More Jobs

The Trump administration continues to move on its campaign promise to restructure the North American Free Trade Agreement, with round five of NAFTA …

Conservative View

Ignore Trump’s whining. It turns out U.S. manufacturing was surging all along

Despite what government planners seem to think, there is nothing sacred about the manufacturing industry. But there is something sacred about truth …

Canadian News

The Guardian view on budget 2017: a missed opportunity

Philip Hammond has admitted that seven years of obsessing about the public sector deficit and shrinking the state has left the economy enfeebled and smaller than before the crisis. But he continues to put ideology above evidence<p>The last seven years has been an experiment in politics; testing a …

Opinion

High personal taxes a blemish on Canada’s appeal for international talent

If Canada is going to attract and retain the best and brightest from around the world to help drive its 21st-century economy, it might want to consider its priorities with its relatively high personal taxes, a new international report on talent-competitiveness suggests. If the country is going to …

Education

Whatever happened to socialism?

The Left may be offering certain horrors, but socialism isn’t one of them<p>There has been some alarm expressed in Britain by worried editorial writers in journals like the <i>Economist</i> that Jeremy Corbyn could soon be Prime Minister and introduce a socialist regime for the country. Corbyn himself has …

Jeremy Corbyn

Nigeria: Address Fiscal Challenges, Despite GDP Growth, World Bank Tells Nigeria

World Bank<p>Abuja — The World Bank has stated that notwithstanding Nigeria's positive economic growth in the third quarter (Q3) of 2017, the country …

World Bank

When The Toxic Trickles Down

No dictionary can do justice to the definition of the word ‘Smog’. For if the illustrious teams working on definitions had visited Delhi to …

Pollution

Business Planning With Austrian Economics: Marginal Analysis

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business forget all about it on the job.<p>Marginal analysis explained an old conundrum: why are necessities …

Entrepreneurship

Europe urged to raise infrastructure investment

in Frankfurt<p>EU countries are putting their prosperity at risk by spending too little on digital and transport infrastructure after years of chronic …

Economy

Budget focus on skills and technology aims to bolster UK productivity

Chancellor’s measures to improve economic growth include training, tax relief and £2.5bn fund for innovators<p>The government’s latest attempt to tackle Britain’s poor productivity record focused on extra funding for artificial intelligence, skills and technology, as the chancellor introduced measures …

Vince Cable

FactCheck: what the chancellor didn’t say

<b>Philip Hammond produced a few rabbits from the hat in his Budget speech, promising more money for the NHS and abolishing stamp duty for many</b> …

Brexit