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In an earlier post I discussed Robert Gordon’s argument that the big technological innovations (for example the discovery of the flush toilet) had already occurred and that more recent innovations – such as the development of the computer and computer-networking via links with telephones were having at best only marginal impacts on productivity. There is [...] This story of extortion in the Third World had both grimly-amusing and horrifying aspects. Institutional failure and corruption as a major brake on economic development! A good theme for a movie but probably lacks believeability. (677) Jagdish Bhagwati argues in the Financial Times (subscription encouraged) that developed countries should be subject to a strict tort liability for damages done because of cumulative past greenhouse gas emissions. I disagree with most of his views but cite them (see below) given his pre-eminence as a trade theorist, development economist and trade policy analyst. (125) [...] The Conference I attended this week in China had an opening address from Nobel Prize Laureate Amartya Sen. He is a remarkably edudite and interesting guy. He talked broadly about trade, the environment and urbanisation but I focused most of my attention on his remarks about the vexed issue of who is responsible for climate change. Standard [...] The current environmental situation in countries such as China and India is poor – China’s citizens are getting richer but increasingly living in a rubbish dump. But, with respect to climate change and other environmental problems, China is altering its policy view towards being much more environmentally protective. I don’t think it has altered its [...] Amartya Sen argues that droughts such as that being experienced in Australia, high economic growth in some developing countries as well as the diversion of grains into biofuelds servicing the needs of the wealthy has created a surge in the demand for foods that has driven up food prices and endangered the world’s poor. Its [...] I attended a seminar today given by Michael Carter on ‘Poverty Traps and Social Protection’ that is available in full online. Carter suggests that, because of poverty traps, ‘needs based’ targeting may lead to higher levels of long-term poverty than a modestly regressive targeting of those vulnerable to falling into poverty that is based on [...] I have been thinking about the RBS’s interest rate policies and their drive to deflate inflationary expectations in Australia when all the evidence suggests that the US economy is probably already experiencing recession as well as emerging inflation. The catch is that the interest rate hikes that have occurred in Australia over the past few [...] 1.1 million Indians potentially gain access to a $2500 car – ignoring those that might be exported. One can take, as I do, the elitist view that this is environmentally damaging in terms of its contribution to global warming – it is difficult to see it as a positive – and it will certainly [...] |
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