Category Archives: Guest Post

New Zealand: How Crooks’ Buddies at WhaleOil Bounced Out the Chief of the Serious Fraud Office, and More

New Zealand: a tangled writhing heap of politicians on the make, spin merchants on commission, journalists looking for copy, chattering policemen, and bloggers on a sort of nihilistic spree. Like everywhere else.

Read more...

Publish or Be Damned – Or Why Central Banks Need to Say More About The Path of Their Policy Rates

In the wake of the crisis, forward guidance has become a prominent tool of monetary policy. This column argues that central banks should go a step further, communicating to the public the internal policy debate that goes into monetary policy formation – especially regarding uncertainty. Since policy is determined contingent on a range of possible outcomes, forward guidance would become more effective by explicitly communicating how policy would respond along this uncertain path.

Read more...

Don Quijones: Judge Turns Monsanto’s Mexican GMO Dream Into Legal Nightmare

Yves here. The success of seed companies in extracting rents from farmers, particularly in countries where subsistence farming is widespread, is yet another example of how corporations like Monsanto abuse intellectual property laws and monopoly/oligopoly power. For the most part, governments have by their inaction backed this scheme. And that’s before you get to the fact that GMO crops, as a former NIH biomedical researcher stressed to me, is a massive experiment being conducted on the public at large without consent or controls.

Don Quijones reports on a ruling in Mexico that has, at least for the moment, thrown a spanner in the seed companies’ plans by barring field trials of GMO crops due to environmental risks.

Read more...