IT is obviously silly to push for austerity in the midst of a recession, not just silly but cruel, since it prolongs the pain of unemployment. The recession is caused by a deficiency of aggregate demand. To overcome it what is necessary is an increase in demand which...
One could almost get the impression that the storyline of the global economic and financial crisis of 2008/9 is forgotten. Questions of bank regulation and financial sector oversight are hardly discussed in public anymore and legislative efforts to rein in speculative...
The economic crisis that has shaken the world may have started in Wall Street but it has been made much worse by the actions of both the European institutions and European member states. Much of the so-called debt crisis was caused not by states spending too much, but...
Last week, the Reserve Bank (SARB) issued its latest Quarterly Bulletin. It covers economic development in South Africa up to June 2011 and economic prospects for the coming period, as the SARB views it. As usual, the bank also discussed developments in labour...
LONDON – “You can never have enough enemies,” Tiny Rowland once boasted, but even the buccaneering tycoon who built what is now Lonmin plc might blench before the “perfect storm” it faces after South African police killed 34 strikers at...
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