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HL Mencken, by Robert H Davis, 1928 © Enoch Pratt Free Library, Maryland’s State Library Resource Center. All Rights reserved. |
The economics of courage
Avoidance and false certainty are common afflictions of economic policymakers. Could this explain why they missed something as big and obvious in hindsight as the 2008 financial crisis? Courage to take on the causes of the crisis is needed now.
Will China’s economy avoid the doldrums?
Will China’s growth slowdown last and what does it mean for the rest of us? The gradual US recovery is still not strong enough to pull up the rest of the world economy. Abenomics has not yet worked its magic in Japan, if it ever will. And Europe is clearly out for the count. So can China be the new engine of the world economy?
GDP growth in China has fallen from the 10%-plus rates of the past two decades. It decelerated from 10.4% in 2010 to 9.3% in 2011 and 7.8% in 2012, and edged lower to 7.7% in the first quarter of 2013. Both leading and lagging indicators in China suggest that growth is continuing to slow. By Ken Davies, President, Growing Capacity, Inc., formerly of the OECD Directorate for Financial and Enterprise Affairs
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Action for youth
The current crisis has continued to affect people’s lives across the world, and nowhere is this more evident than in the deteriorating labour market in many countries. Young people have been hit particularly hard and risk being permanently scarred from joblessness and even exclusion.
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©Blend images/Alamy |
Can youth entrepreneurship work?
Larry Page and Sergey Brin were young doctoral students when they created the company we now know as Google. Virgin’s Richard Branson started out in business as a teenager selling records. These big names are just part of a long list of young entrepreneurs that made it in business, a list that could include the founders of Facebook, e-Bay, France’s Free telecom and more.
Getting the lead out
You've probably heard that old adage, where someone asks someone else if they “ate lead paint chips” as a child, after they did something stupid or silly. The effects of lead poisoning, however, are not silly. Many academics believe lead poisoning in children correlated to spikes in crime more than any other single factor. Granted, it takes more than a noticeable pattern to establish causality, the meta-analysis of other factors all seem to point in the direction of lead.
Not so patient
Patients in most OECD countries face long hospital waiting times, whether for primary care, out-patient specialist care or even emergency care. Tax payers rightly expect better service, and hospital waiting times are understandably a contentious political issue.
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Banking, ethics and good principles
Whether you blame poor regulation, sloppy governance, greed or bad luck, banks were frontline culprits in causing the crisis. Governments have been working on reforms to fix the financial sector and improve governance, but a lot more work remains to be done. Some OECD principles can help.
Headline economic data
| GDP | +0.4% Q1 2013 (0.0% Q4 2012) |
| Leading indicators | +0.5% Apr 2013, year on year |
| Inflation | +1.5% May 2013 (+1.3% Apr) annual |
| Unemployment | 8.0% Apr 2013 (8% Mar 2013) |
Data for OECD area. Latest update: 05 July 2013
Databank - Latest quarterly data by country
For details on these and other numbers, click titles or visit www.oecd.org/statistics
Main economic indicators by country
GDP, output, inflation, current account, unemployment, interest rates for 40 countries plus euro area, as published in OECD Observer. Just print it out and pin it up.
Do you trust your government?






