economy

Extraordinary projections for UK economy 'both worse and better than feared'

Today's extraordinary projections of the course of the economy over the rest of the year from the Bank of England are, bizarrely, both worse and better than might be feared.





economy

Former Chancellor Philip Hammond calls on Government to reopen economy soon or face disaster

But in one sign of a turning tide in Number 10, the UK Government is reportedly considering a proposal to allow Brits to meet up with small "bubbles" of up to 10 of their closest family or friends.




economy

Will the post-coronavirus economy come roaring back? Lessons from the 1918 pandemic and the Roaring '20s

From 1918 to 1920, the Spanish flu pandemic killed hundreds of thousands of Americans and millions worldwide. Yet the U.S. emerged with a roaring economy in what became known as the Roaring ’20s. What lessons can we take away from that crisis 100 years ago?







economy

Already in this crisis we are slipping into over-optimism about the economy and over-pessimism about debt | Wayne Swan

Deep recessions have long shadows and already there is a gaping hole opening up in our pandemic response

The great recession was followed by Brexit, the election of Donald Trump and the rise of authoritarianism particularly in Europe.

Big economic events have big political consequences.

Continue reading...





economy

Sydney news: NSW economy loses to Tasmania, suspected hydroponic set-up damaged by fire

MORNING BRIEFING: NSW's economy has dropped to third, behind Victoria and Tasmania, according to CommSec's State of the States report, which measures performance based on several factors.




economy

'Detailed' plans being drawn up to restart economy, Jenrick says as testing falls below 100,000 for fourth day

The update comes after Prime Minister Boris Johnson confirmed he would set out a lockdown exit strategy on Sunday.




economy

Jobless claims double in a week as coronavirus takes toll on US economy

The coronavirus outbreak continues to upend all aspects of American life, including the November presidential election.




economy

Coronavirus economy is already hurting Trump's re-election chances, economists say

Still, it's an open question whether the economy will ultimately doom Trump in November. One election model still predicts a Trump victory by a wide margin.




economy

What does Tasmania's economy face post-coronavirus?

CommSec's State of the States latest report reveals Tasmania's economy performing stronger than it had for more than 10 years. But that was before the coronavirus crisis hit. What's ahead?




economy

Markets surge on Fed's promise to act 'aggressively' to save a stalled economy

The ASX joins a global rally after the Federal Reserve says it will "aggressively" use its "full range of tools" to aid the recovery, as the US economy records its worst slump since the global financial crisis.




economy

Shutdown costing economy $4 billion a week as Cabinet prepares to assess restrictions

Josh Frydenberg will tell the National Press Club he is happy a discussion about lifting coronavirus restrictions is taking place earlier than first planned as new analysis says the Australian economy is losing $4 billion a week.





economy

US economy 'on life support' as unemployment soars to nearly 15 per cent

The US economy lost a staggering 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression, but President Donald Trump says "all those jobs will be back" very soon.




economy

U.S. economy lost 20.5 million jobs in April

The U.S. economy lost a staggering 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the coronavirus pandemic is battering the world's biggest economy.




economy

Javid proposes different lockdown rules based on age to reopen economy

Britain must turn its attention to the economy now it is through the peak of the coronavirus crisis, Sajid Javid has told Sky News.




economy

Italy begins easing lockdown and rebooting its economy

Italy Easing Lockdown




economy

Trump calls Americans 'warriors' in fight to open the economy

As COVID-19 deaths keep rising, Trump's message has shifted from 'one is too many' to praising Americans as warriors fighting to open the economy.




economy

Finalists of APEC Healthy Women, Healthy Economy Prize Announced

Equal pay, migrant workers, and maternal health are the issues highlighted by the finalists of the inaugural APEC Healthy Women, Healthy Economies Research Prize.




economy

Fears of a second coronavirus surge haunt California as it begins slow-speed reopening of economy

Reopening California begins -- but very slowly, cautiously and under the shadow of a second wave.




economy

California begins reopening economy as select businesses unlock doors

Parts of California, including Los Angeles County, are allowing some businesses to offer curbside service Friday.




economy

Foreign workers left high and dry in Japan's coronavirus economy




economy

A Rigged Economy

And what we can do about it




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Study Group on Energy Innovation and the Transition to a Low-Carbon Economy: Advising Fortune 500 Companies

This study group will explore the role of the private sector in evolving energy systems, and how corporations might change in a climate constrained world. 




economy

Myanmar economy grows despite refugee crisis

For people in the West, Myanmar appears to be a mess. Yet, for many in Asia, it still beckons as a land of opportunity. Western media remain focused on the ethnic cleansing operation against the Muslim Rohingya community launched by the government's armed forces in the wake of sporadic attacks from late 2015 by a…

      
 
 




economy

The Pursuit of Happiness: An Economy of Well-Being


Brookings Institution Press 2011 164pp.

- A Brookings FOCUS Book -

"Since 1776 the 'pursuit of happiness' has been the great world question. Here, reflecting on modern survey techniques and results, Carol Graham drills deeper. What does happiness mean? For example, is it opportunity for a meaningful life? Or, is it blissful contentment? And why does it vary, as it does, across individuals and around the world? How does the perception of happiness differ in countries as disparate as Cuba, Afghanistan, Japan, and Russia? Carol Graham is opening up a whole new frontier in economic and social policy."—George Akerlof, Daniel E. Koshland Sr. Distinguished Professor of Economics, University of California–Berkeley, and 2001 Nobel Laureate in Economics

In The Pursuit of Happiness, the latest addition to the Brookings FOCUS series, Carol Graham explores what we know about the determinants of happiness, across and within countries at different stages of development. She then takes a look at just what we can do with that new knowledge and clearly presents both the promise and the potential pitfalls of injecting the "economics of happiness" into public policymaking.

This burgeoning field, largely a product of collaboration between economists and psychologists, is gaining great currency worldwide. One of a handful of pioneers to study this topic a mere decade ago, Graham is understandably excited about how far the concept has come and its possible utility in the future. The British, French, and Brazilian governments already have introduced happiness metrics into their benchmarks of national progress, and the U.S. government could follow suit. But "happiness" as a yardstick to help measure a nation’s well-being is still a relatively new approach, and many questions remain unanswered.

The Pursuit of Happiness spotlights the innovative contributions of happiness research to the dismal science. But it also raises a cautionary note about the issues that still need to be addressed before policymakers can make best use of them. An effective definition of well-being that goes beyond measuring income—the Gross National Product approach—could very well lead to improved understanding of poverty and economic welfare. But the question remains: how best to measure and quantify happiness? While scholars have developed rigorous measures of well-being that can be included in our statistics—as the British are already doing—to what degree should we use such metrics to shape and evaluate policy, particularly in assessing development outcomes?

Graham considers a number of unanswered questions, such as whether policy should be more concerned with increasing day-to-day contentment or with providing greater opportunity to build a fulfilling life. Other issues include whether we care more about the happiness of today’s citizens or that of future generations. Policies such as reducing our fiscal deficits or reforming our health care system, for example, typically require sacrificing current consumption and immediate well-being for better long-run outcomes. Another is whether policy should focus on reducing misery or raising general levels of well-being beyond their relatively high levels, in the same way that reducing poverty is only one choice among many objectives in our macroeconomic policy.

Employing the new metrics without attention to these questions could produce mistakes that might undermine the long-term prospects for a truly meaningful economics of well-being. Despite this cautionary note, Graham points out that it is surely a positive development that some of our public attention is going to better understanding and enhancing the well-being of our citizens, rather than emphasizing the roots of their divide.

Additional Praise for the book:

"As acceptance of social science research on happiness continues to grow, a new question has naturally surged to the fore: Should happiness be a goal of public policy? In this eloquently written celebration of a new science, Carol Graham provides valuable new insight into the pros and cons of this issue."—Richard A. Easterlin, University Professor and Professor of Economics, University of Southern California

"The Pursuit of Happiness is a consummate work of scholarship that adds important insights to the worldwide debate on economic well-being. Around the world, governments and citizens are realizing that the Gross National Product is often failing to steer our economies towards desirable ends. The search is on for more appropriate metrics and goals. Carol Graham, a pioneer in the field of 'happiness economics,' builds on a decade of her research to offer clear and careful suggestions for policymakers and scholars who aim to make happiness a central and explicit aim of public policy. With great care and judgment, and consistent clear thinking, Graham explains many of the complexities that will arise in defining, measuring, and targeting happiness in economic policy. Yet Graham urges us to persevere, and her new book will help the world to move forward on this new and promising economic course."—Jeffrey D. Sachs, Director of the Earth Institute at Columbia University, Special Advisor to UN Secretary General Ban Ki-Moon on the Millennium Development Goals

“The book is well written and very accessible, and is immaculately researched, avoiding bias and imbalance. . . . Far from being a ‘dismal science,’ Graham provides much reason for optimism for those people involved in this burgeoning field of economics.”—World Economics

ABOUT THE AUTHOR

Carol Graham
Carol Graham is a senior fellow in Global Economy and Development and Charles Robinson Chair in Foreign Policy at the Brookings Institution. She is also College Park Professor at the University of Maryland's School of Public Policy. Her previous books include Happiness around the World: The Paradox of Happy Peasants and Miserable Millionaires (Oxford University Press, 2010) and Happiness and Hardship: Opportunity and the Insecurity in New Market Economies (Brookings Institution Press, 2001, with Stefano Pettinato).

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Ordering Information:
  • {BE4CBFE9-92F9-41D9-BDC8-0C2CC479A3F7}, 978-0-8157-2127-7, $24.95 Add to Cart
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economy

The Pursuit of Happiness: An Economy of Well-Being, Paperback Edition


Brookings Institution Press 2012 164pp.

- A Brookings FOCUS Book -

In The Pursuit of Happiness, renowned economist Carol Graham explores what we know about the determinants of happiness and clearly presents both the promise and the potential pitfalls of injecting the “economics of happiness” into public policymaking. While the book spotlights the innovative contributions of happiness research to the dismal science, it also raises a cautionary note about the issues that still need to be addressed before policymakers can make best use of them.

This paperback edition features a new preface. To purchase the original, hardcover edition, click here.


Praise of The Pursuit of Happiness:

"With great care and judgment, Graham clearly explains the complexities of defining, measuring, and targeting happiness in economic policy while still urging us to persevere. . . . A consummate work of scholarship."
—Jeffrey D. Sachs, director of the Earth Institute at Columbia University

"The book is well written and very accessible, and is immaculately researched, avoiding bias and imbalance. . . . Far from being a 'dismal science,' Graham provides much reason for optimism for those people involved in this burgeoning field of economics."
—World Economics

"As acceptance of social science research on happiness continues to grow, a new question has naturally surged to the fore: Should happiness be a goal of public policy? In this eloquently written celebration of a new science, Carol Graham provides valuable new insight into the pros and cons of this issue."
—Richard A. Easterlin, university professor and professor of economics, University of Southern California

"Since 1776 the 'pursuit of happiness' has been the great world question. Here, reflecting on modern survey techniques and results, Carol Graham drills deeper. . . . [She] is opening up a whole new frontier in economic and social policy."
—George Akerlof, 2001 Nobel Laureate in Economics

ABOUT THE AUTHOR

Carol Graham

Downloads

Ordering Information:
  • {9ABF977A-E4A6-41C8-B030-0FD655E07DBF}, 978-0-8157-2404-9, $18.95 Add to Cart
     
 
 




economy

Rule of law is essential for the economy, too

       




economy

How a Detroit developer is using innovative leasing to support the city’s creative economy

Inclusive growth is a top priority in today’s uneven economy, as widening income inequities, housing affordability crises, and health disparities leave certain places and people without equitable access to opportunity, health, and well-being. Brookings and others have long argued that inclusive economic growth is essential to mitigate such disparities, yet implementing inclusive growth models and…

       




economy

Building a Design Economy in India


In this paper, we outline the manner in which design can help promote the Indian economy. We look at the status of design in India, review the country’s development challenges, discuss the opportunities of a design economy, and make recommendations to enhance design in India.

Highlights of Main Findings

  • India’s design capacity in the number of patents granted is approximately 3 percent of China and less than 2 percent of the U.S.A.
  • India’s industrial design capacity is approximately 1 percent of China and 6 percent of the U.S.A.
  • Historically, non-resident entities have been granted the most number of patents within India.
  • Since 2012, more patents have been granted to Indian entities abroad than the number of patents granted by the Indian government to either resident or non-residents entities within India.
  • While in India and the U.S.A. the most number of patents are annually granted to non-resident entities, in China the most number of patents have been granted to resident Chinese entities since 2008.
  • Among the broad economic factors that affect design economy in India, the role of higher education, FDI, digital connectivity, infrastructure and trade have been identified as the most important.

Some specific policy recommendations to boost design economy in India are:

  • Curricular reform for research and development in higher education
  • Workforce development for R&D sector
  • Establishing design labs and special economic zones to focus on R&D
  • Developing and enforcing domestic legislation for intellectual property protection<.li>
  • Promoting greater collaboration between business, government, and academia

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Image Source: © Jitendra Prakash / Reuters
      
 
 




economy

What China’s food safety challenges mean for consumers, regulators, and the global economy

China’s food safety woes are well-known. Addressing food safety concerns can be seen part and parcel of China’s needed transition toward a consumer-oriented economy, which is even more imperative now that the country’s GDP growth is slowing from historic rates. Boosting consumer confidence is an essential piece of that puzzle for China—and by extension, a factor for global economic stability.

      
 
 




economy

How should we measure the digital economy?

Over the past 40 years, we’ve seen an explosion of digital goods and services: Google, Facebook, LinkedIn, Skype, Wikipedia, online courses, maps, messaging, music, and all the other apps on your smartphone. Because many internet services are free, they largely go uncounted in official measures of economic activity such as GDP and Productivity (which is…