Monthly Archives: March 2013

The Capital Controls in Cyprus and the Icelandic Experience

Cyprus has imposed temporary capital controls. This column sheds light on how temporary and how damaging they are likely to be, based on Iceland’s experience. The longer controls exist, the harder they are to abolish. Icelandic capital controls, which have been ‘temporary’ for half a decade, deeply damage the economy by discouraging investment.

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More Scientific Evidence Linking Fracking and Earthquakes

By John C.K. Daly, the chief analyst for Oilprice.com. Cross posted from OilPrice

As the practice of hydraulic fracturing to produce natural gas continues to spread not only in the U.S. but worldwide, the scientific community has increasingly focused on the environmental consequences of the technique. The most worrisome side effect of “fracking” is the rise of earthquakes in areas where the practice is extensive.

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Barack Obama’s Economic Legacy: The Billionaire-Boosting Big Four on His Wish List

By Gaius Publius. Follow him on Twitter @Gaius_Publius. Cross posted from AmericaBlog

I’ve been writing about Obama’s Legacy Tour (sorry, his second term) from time to time without focusing on the legacy itself. So this post will lay down a marker — in brief, what’s on Obama’s economic legacy list, and what will he get if he succeeds?

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Oligarchy Exists Inside Our Democracy

By Ed Walker, who writes regularly for Firedoglake as masaccio

Suddenly it looks like we are seeing political victories for progressives, on LGBT rights, on issues important to Hispanics, even occasionally on issues important to women. At the same time, we lose every single battle over economic issues. Why?

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Wolf Richter: The Stunning Differences In European Costs Of Labor – Or Why “Competitiveness” Is A Beggar-Thy-Neighbor Strategy

By Wolf Richter, San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Cross posted from Testosterone Pit.

The ominous term, “competitiveness” has been bandied about as the real issue, the one that causes European countries, in particular some of those stuck in the Eurozone, to sink ever deeper into their fiasco. To fix that issue, “structural reforms,” or austerity, have been invoked regardless of how much blood might stain the streets. And a core element of these structural reforms is bringing down the cost of labor. But productivity, infrastructure, transportation costs, corruption, training and education, etc. all figure prominently into this equation. Cost of labor is not the only factor.

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