2019-02-25 12:41:00 Mon ET
treasury deficit debt employment inflation interest rate macrofinance fiscal stimulus economic growth fiscal budget public finance treasury bond treasury yield sovereign debt sovereign wealth fund tax cuts government expenditures
Chicago financial economist Raghuram Rajan views communities as the third pillar of liberal democracy in addition to open markets and states. Rajan suggests that communities serve as an indispensable part of a healthy economic society in stark contrast to a key source of market frictions (which may inhibit the smooth operation of the global economy). In recent times, both Brexit and the electoral successes of Donald Trump have shaken the dismal science. Prominent economists begin to consider what can constitute an efficient response to regional economic inequality. For instance, Lawrence Summers and his co-authors empirically demonstrate that both employment subsidies and tax credits should target U.S. regions with more elastic labor participation.
As open markets and states interact with socioeconomic webs of human relations, values, and norms, technological phase shifts tend to rip markets out of those old webs with populist backlashes through human history. Socioeconomic interactions eventually gravitate toward a new equilibrium with a messy and arduous transition. When markets and states scale up, political clout and economic power concentrate in vibrant hubs that prosper to the detriment of peripheral communities. Democracy preserves market competition, and open market competition preserves democracy. Rajan proposes strengthening communities as an antidote to new socioeconomic challenges.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2022-05-30 09:32:00 Monday ET

The new semiconductor microchip demand-supply imbalance remains quite severe for the U.S. tech and auto industries. Our current fundamental macro a
2020-04-24 11:33:00 Friday ET

Disruptive innovations tend to contribute to business success in new blue-ocean markets after iterative continuous improvements. Clayton Christensen and
2023-06-07 10:27:00 Wednesday ET

Anat Admati and Martin Hellwig raise broad critical issues about bank capital regulation and asset market stabilization. Anat Admati and Martin Hellwig (
2019-09-11 09:31:00 Wednesday ET

Central banks in India, Thailand, and New Zealand lower their interest rates in a defensive response to the Federal Reserve recent rate cut. The central ban
2018-04-29 13:44:00 Sunday ET

College education offers a hefty 8.8% pay premium for each marginal increase in the number of years of intellectual attainment in contrast to the 5.6%-6% lo
2018-07-21 13:35:00 Saturday ET

President Trump supports a bipartisan bill or the Foreign Investment Risk Review Modernization Act (FIRRMA), which effectively broadens the jurisdiction of