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The Latest Breaking News from Economics

Iran stops buying Indian tea, basmati rice: Report

NEW DELHI: Iran, the biggest buyer of Indian basmati rice, has stopped purchasing the same, the Economics Times reported.

The Times of India

Mingkwan set for unveiling at PPRP

The former leader of the New Economics Party (NEP) Mingkwan Sangsuwan will join the Palang Pracharath Party (PPRP), where he is tipped to lead the party's economic team, said a source within the party.

Bangkok Post

Global goods trade forecast to shrink in 2023

The global goods trade will shrink next year in a downturn reminiscent of previous recessions, Oxford Economics said, in a worrying forecast for Asia’s export-dependent economies and beyond.

Bangkok Post

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Study calls for more North East investment in women's professional sport

The report from Irwin Mitchell and the Centre for Economics and Business Research champions the potential for the sports economy

Birmingham Post

Ex-Obama adviser Goolsbee to lead Chicago Fed

Austan Goolsbee, an economics professor at the University of Chicago who is a frequent commentator in opinion columns and television appearances, will succeed Charles Evans.

Chicago Sun-Times

Brickbat: Tiger By the Tail

A federal jury in Alabama has awarded Auburn University professor Michael Stern $645,837 in damages after finding Stern's former dean violated his First Amendment rights by punishing him for criticizing the high number of athletes in the school's public administration program in 2014. Stern was removed as chair of the…

Reason

Finance employees see the future of work as hybrid, a study finds

A study by Women in Banking and Finance and the London School of Economics focuses on finance professionals in the U.K.

Fortune

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Hayek Was a True Liberal

A new biography tells the story of the economist’s early life and career.

Reason

How Janet Yellen found her match in economics and life with husband George Akerlof

The treasury secretary's partnership with her husband has hugely influenced her rise to the most powerful woman in U.S. economic policymaking history.

Fortune

Rishi Sunak – live: Brexiteer Owen Paterson takes government to EU human rights court

MP claims lobbying investigation damaged his reputation unfairly

The Independent UK

Editorial: GOP economics still reveres the disproven 'Laffer curve.' Why can't they learn?

Arthur Laffer, the Reagan-era guru of trickle-down economics, was unchastened by the deficit explosion back then, which effectively disproved his theory that cutting taxes on the rich would increase government tax revenue. According to a recent Washington Post writeup, Laffer continues to be unchastened now, even as Britain reels from…

St. Louis Post-Dispatch

China COVID cases rise, hard-hit Beijing tightens entry rules

China's capital warned on Monday that it was facing its most severe test of the COVID-19 pandemic, shutting businesses and schools in hard-hit districts and tightening rules for entering the city as infections ticked higher in Beijing and nationally.

Reuters

Verdict Against Auburn University in Economics Professor's First Amendment Retaliation Lawsuit

In Stern v. Roberts, a jury just held that Auburn University had retaliated against Prof. Michael Stern, a tenured economics professor, based on his speech; the jury awarded $145K in compensatory damages and $500K in punitive damages. Here are the factual allegations from the earlier opinion denying summary judgment: In…

Reason

Qatar's goals: Using the World Cup to diversify the economy

This week, we're focusing on Qatar and asking what the economic impact of hosting the FIFA World Cup could be. Can this be a transformative event for the gas-dependent country? Or will it be a financial abyss worth an estimated $200 billion? We ask Alexis Antoniades, an economics professor at…

France 24

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The Conversation

Autumn statement 2022: experts react

UK chancellor Jeremy Hunt laid out his plans for the British economy today. The statement was made against a backdrop of a more than 40-year inflation high and recession warnings from the Bank of England.

Bangkok Post

Myanmar to release 6,000 prisoners, including former British envoy

YANGON: Myanmar's military said on Thursday it will release almost 6,000 prisoners, including a former British ambassador, a Japanese journalist and an Australian economics adviser in a rare olive branch from the isolated junta.

The Guardian - UK

Austerity 2.0 is not a necessity – it’s a choice. Why won’t the media say so?

There was a clear bias towards the City in coverage of the 2008 crash. We can’t afford for it to happen again, says Guardian columnist Owen Jones

The Guardian - UK

Herman Daly obituary

Pioneering ecological economist who foresaw the catastrophic effects of unlimited economic growth

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The Conversation

The inconvenient truth of Herman Daly: There is no economy without environment

Herman Daly had a flair for stating the obvious. When an economy creates more costs than benefits, he called it “uneconomic growth.” But you won’t find that conclusion in economics textbooks. Even suggesting that economic growth could cost more than it’s worth can be seen as economic heresy.

The Independent UK

Brazil’s da Silva forms mixed economics team for transition

President-elect Luiz Inácio Lula da Silva’s transition has added a team of economists that includes at least two members likely to allay market worries about potential business and financial policies the incoming leftist leader might be considering

Daily Mirror

'Sunak and Hunt are using Tory voodoo economics that will cut UK's legs off'

Prime Minister Rishi Sunak and Chancellor Jeremy Hunt's upcoming mini budget is set to be a disaster and shows they haven't learnt anything, writes Kevin Maguire

Evening Standard

Matt Hancock in the jungle: how did it come to this?

He rose quickly through the Tory ranks to take on the vital role of health secretary during a global pandemic. He’ll appear on national TV this weekend (probably) eating kangeroo testes. So, what happened, asks Amy Francombe

Businessweek

A Practical Way to Make Sense of All the Shocks Hammering the Global Economy

Brexit, the US-China trade war, Russia’s invasion of Ukraine—more such geopolitical surprises will continue the economic upheaval.

The Conversation

Burglars steal more gold when the price is high – new research

Are criminals rational? In his groundbreaking work of 1968, Gary Becker argued that they are. The American economist, who would go on to win the Nobel prize in economics in 1992, theorised that individuals engage in crime only if the returns are greater than the returns from engaging in legal…

The Guardian - UK

The UK economy is about to be thrown into a black hole – by its own government

It fits the definition of madness to propose more austerity. But that, along with higher interest rates, is what’s coming, says Guardian economics editor Larry Elliott

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