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çelik raf
Was the food price crisis of 2008 really a myth?
By Will Martin and Hassan Zaman, guest bloggers We are delighted that Derek Headey has introduced new data and new approaches into the debate on the impacts of higher food prices on food security. But we have difficulty with his claim that the results from Gallup World Poll (GWP) contradict the ...
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raf sistemleri
Is China driving the wrong kind of structural change in the U.S.?
By Maggie McMillan, guest blogger When economists talk about structural transformation, they typically have in mind developing countries and the dual economy models à la W. Arthur Lewis that emphasize productivity differentials between broad sectors of the economy, such as agriculture and manuf...
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raf
Caution! Sham trial in process…
A Turkish court accepted a second indictment yesterday in the infamous Sledgehammer case, adding 28 new names to the 195 officers already under indictment (most of whom have been jailed). The new indictment is based on additional (digital) documents, said to reinforce the original charges, whic...
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Capitalism 3.0 -- the reviews are in
Well at least a couple of them. I gave a talk with this name at LSE the other day, which was extremely well attended. I am not happy with the title at all, which as I joked, makes me sound like a Tom Friedman wannabe. But it does capture a couple of key ideas I was trying to get across: the m...
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Explaining my absence
OK, many of you have asked but I knew that I had to put in an explanation for my continued absence here when my mother in Turkey complained that she missed the "postcards" from me on the blog. I am alive and well. But here are two reasons why this space will not be updated frequently over the...
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Avinash Dixit on Samuelson
This appreciation by Dixit on Samuelson should not be missed.
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The Robin Hood tax
There are a few things that suddenly ignite my urge to blog again. This piece a couple of days ago by Dominique Strauss-Kahn urging nations to coordinate their approaches to financial regulation almost did it. Here is a little excerpt: Imagine a financial holding company that owns a commercia...
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The End of an Era in Finance
In the world of economics and finance, revolutions occur rarely and are often detected only in hindsight. But what happened on February 19 can safely be called the end of an era in global finance. On that day, the International Monetary Fund published a policy note that reversed its long-held po...
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Now for something really, really different
You don't come here for this kind of stuff, but if you are interested in Turkey, you should read this. And if you also happen to read Turkish, you should then turn here.
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Greek Lessons for the World Economy
The Greek crisis is yet another manifestation of the political trilemma of the world economy: economic globalization, political democracy, and the nation-state are mutually irreconcilable. We can have at most two at one time. Read the rest here.
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At a bookstore near you…
but unfortunately, not anytime very soon! If you want to read a good book in the meantime, read this.
raf
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What is going on in Turkey?
Not what you read in the papers. Forged documents, planted evidence, secret witnesses, anonymous informants — these have become the weapons of choice in the massive campaign underway in Turkey to destroy the secular old guard and discredit the government’s opponents. It may look like a mildly Is...
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What does Spain need to do to get out of the crisis?
I just came back from a conference in Spain, where this was the question on the table. I made the following points. First, expenditure cuts are not going to do the job on their own, unless accompanied by policies targeted directly at improving competitiveness. Second, "structural reforms" (which...
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Europe’s fate depends on…
Germany. Financial meltdown has been averted in Europe – for now. But the future of the European Union and the fate of the eurozone still hang in the balance. If Europe doesn’t find a way to reactivate the continent’s economy soon, it will be doomed to years of gloom and endless mutual recrimina...
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The most telling chart I have seen in a long time
The Inter-American Development Bank’s new study, The Age of Productivity is a trove of neat information on productivity performance in Latin America. My favorite nugget is this one: Ignore the intermediate period of debt crisis (1975-90) and focus on the differences between the periods of imp...
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A debate on industrial policy
In which Josh Lerner and I pretend to disagree.
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The market confidence bugaboo
A specter is haunting Europe – the spectre of “market confidence.” It may have been fear of communism that agitated governments when Karl Marx penned the opening line of his famous manifesto in 1848, but today it is the dread that market sentiment will turn against them and drive up the spreads...
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The Myth of Authoritarian Growth
On a recent Saturday morning, several hundred pro-democracy activists congregated in a Moscow square to protest government restrictions on freedom of assembly. They held up signs reading “31,” in reference to Article 31 of the Russian constitution, which guarantees freedom of assembly. They were...
raf
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Who said economics is about forecasting the future?
Gideon Rachman of the FT wants to dethrone economists. I am all for it, but what grates in his article is the view that economics as a science is defined by its ability to forecast the future. No, it is not, and whoever said that is not very knowledgeable about economics as a discipline. Well, e...
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Erdoğan’s Choice
“Turkish democracy is at a turning point,” Prime Minister Recep Tayyip Erdoğan announced after winning a crucial vote in a referendum to change Turkey’s constitution. “We are sitting an important exam.” Erdoğan is right, but it is he who must pass the test. If the plebiscite victory emboldens hi...
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The craziness in Turkey reaches new heights
A renowned Turkish police investigator, Hanefi Avci, is behind bars today, accused of having collaborated with a violent revolutionary organization. The charges make as much sense as Winston Churchill having been an undercover operative for Stalin. To anyone but the most jaundiced observer, Avc...
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Zoellick wants to remake development economics
World Bank president Bob Zoellick gave an interesting speech today at Georgetown. I wasn't there, but have seen his prepared remarks, which I find both forthright and courageous. From my perspective, the speech hits all the right notes: the need for economists to demonstrate humility, eschew bl...
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Does globalization have a future?
I recently gave a lecture on this topic at the University of Florida, and a video of the lecture is now online here. You will need Windows Media Player to watch it.
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Industrial policy goes mainstream
Brookings and AEI will jointly release a proposal today that advocates as much as $25 billion spending by the U.S. federal government on clean energies. The motivation, as described in the NYT story, is that cap-and-trade provides inadequate incentives for firms to invest in new technologies, a...
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Book recommendations
Here are four very different books that I have greatly enjoyed reading recently. Kathryn Schulz's Being Wrong is a fascinating account of how being human means making errors that we refuse to own up to. Princeton sociologist Viviana Zelizer's Economic Lives: How Culture Shapes the Economy is ...
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