Yearly Archives: 2013

By Jayati Ghosh, Professor of Economics and Chairperson at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India. Originally published at Triple Crisis.

Editors’ note:  This is the third part (of four) of “The Emerging Left in the ‘Emerging’ World,” by Triple Crisis founding contributor Jayati Ghosh, originally delivered in 2012 as part of the Ralph Miliband Lecture Series at the London School of Economics. We posted the introduction two weeks ago (here), and the second part last week (here). In this week’s post, Ghosh discusses five more “common threads” of the emerging left: private property, “rights,” class and identity, gender, and the environment. We will post the conclusion to the lecture next week.

By Lee E. Biggerstaff, PhD Candidate, University of Tennessee, David Cicero, Assistant Professor of Finance, University of Alabama, and Andy Puckett, Associate Professor anf the Massingale Scholar in the Department of Finance, University of Tennessee. Originally published at VoxEU.

Curbing corporate misbehaviour is a key policy goal but fixing the problem requires an understanding of what causes it. This column develops an innovative empirical approach that identifies unethical CEOs as an important cause of unethical corporation behaviour.

Anat Admati is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University. Here she is interviewed by Marshall Auerback, the Institute for New Economic Thinking’s Director of Institutional Parternships.

Lambert here: Since it’s the weekend and nobody’s watching, I’ll dip my toe in the waters of finance; maybe at some future point I’ll actually wade into the shallow end of the pool! This interview contains an interesting, nuts and bolts discussion of the Cyprus and London Whale debacles, and it’s worth a listen to see how a finance professional recapitulates them; I found it interesting that Admati uses the phrase “political economy” unapologetically.

From Unconventional Economist, who has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs. Cross posted from MacroBusiness, originally published at The Conversation.

When financial markets stood on the verge of collapse in the summer of 2008, two of the world’s most important central banks, the US Federal Reserve and the Bank of England, began considering unorthodox policy measures. They turned to Quantitative Easing, or QE: injecting money into the economy by purchasing assets from the private sector, in the hope of boosting spending and staving off the threat of deflation. These were desperate measures for desperate times.

With signs of a fragile economic recovery gathering enough momentum to reassure policymakers in the US, the policy was expected to be wound down. But in a move that caught commentators off guard, the Fed instead committed to continue with its existing level of asset purchases. For the foreseeable future, at least, QE is here to stay. What began as a short-term crisis measure has now become a key component of Anglo-American growth strategies. It’s important, then, to take stock of QE and the central role it has played within the Anglo-American response to the financial crisis.