Friday, March 22, 2019

Tag: Economy

The network of global corporate control

The structure of the control network of transnational corporations affects global market competition and financial stability. So far, only small national samples were studied and there was no appropriate methodology to assess control globally. We present the first investigation of the architecture of the international ownership network, along with...

Japan Buys Dollars to Weaken the Surging Yen

TOKYO — Japan said Thursday that it had intervened in the foreign exchange market, selling yen and buying dollars in a bid to reverse a punishing spike in the value of the Japanese currency. Japan has been desperate to bulwark its fragile recovery from the March earthquake and tsunami. But...

Labour accused of covering up warnings about immigration

Secret research commissioned by Labour ministers warned that the number of immigrants moving to Britain threatened to drive down wages and inflame community tensions, The Daily Telegraph can disclose. One of the reports, to be published today under freedom of information laws, showed that immigration into rural areas almost doubled...

Manufacturing Dissent: The Anti-globalization Movement is Funded by the Corporate Elites

This article was first published in 2010. The author’s introductory quote was first formulated in 2001 in the context of the Summit of the Americas in Quebec City which was held a few months before 9/11. “Everything the Foundation did could be regarded as “making the World safe for...

China overtakes US as world’s biggest energy consumer

Increasingly affluent and energy-hungry nation reflects the dramatic increase in the wattage of China's economy. Declarations of love do not get much more highly charged than the one Zhao Xiuxia received from her husband recently on an LED screen bigger than a football pitch. "Dear wife, I adore you. You work...

Epidemics of Control Fraud Lead to Recurrent, Intensifying Bubbles and Crises

Control frauds are seemingly legitimate entities controlled by persons that use them as a fraud “weapon.” A single control fraud can cause greater losses than all other forms of property crime combined. This article addresses the role of control fraud in financial crises. Financial control frauds’ primary weapon is...

An exorbitant privilege? Implications of reserve currencies for competitiveness

Could the US prioritize domestic growth and jobs over its global responsibilities, sparking greater currency volatility that threatens competitiveness? Sharp exchange rate volatility is a sign of stress in the world currency system and has reignited debate about whether the dollar will continue to be the world's primary reserve currency...

Zhou Xiaochuan: Reform the International Monetary System

The outbreak of the current crisis and its spillover in the world have confronted us with a long-existing but still unanswered question,i.e., what kind of international reserve currency do we need to secure global financial stability and facilitate world economic growth, which was one of the purposes for establishing...

Adam Smith Was Right about Corporate CEOs Incentives absent Effective Regulation

Our different views prove that hindsight is often myopic. Larry White’s take is that Clintonian regulations perverted private incentives. The boom and bust happened in a system with ... extensive legal restrictions on financial intermediation. Nor have we had banking and financial deregulation since ... 1999. (One can’t explain an unusual...

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