Tag: world economy
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What is the Economic Question?
What is the principal question economics seeks to answer? That question to be answered has changed over time as the world economy has evolved. It is morphing even now. I recently finished James Halteman and Edd Noell's excellent new book Reckoning with Markets: Moral Reflection in Economics. I like the following historical summary they offered…
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Rebalancing the World Economy: China
The Economist: Rebalancing the World Economy: China A REBALANCED global economy requires America to consume less and save more. That means the world’s three big surplus economies—China, Germany and Japan—will have to save less and spend more. None is under more scrutiny than China, whose vast current-account surplus has been fingered by some as the…