Acton Institute Powerblog Archives

Post Tagged 'International Monetary Fund'

The Greek Economy: It’s Just Plain Ugly

Greece has had to deal with a very uncertain economic outlook over the past decade or so, but now it’s getting downright ugly. Greece owes over $1 billion this month in debt repayments, along with pensions, government salaries and other obligations. Continue Reading...

Why Attitudes About Competition Matter

In an excerpt from the splendid PovertyCure series, Michael Fairbanks offers a helpful bit on why our attitudes about competition matter for economic development: I can predict the future of a developing nation better than any IMF team of economists by asking one question: “Do you believe in competition?” When I go to Venezuela and I say, “do you believe in competition?,” they say “competition means the rich get richer and the poor get poorer.” They say “competition is the unnecessary duplication of effort because you have two firms doing the same thing.” They say “competition is a quaint North American concept that doesn’t apply here.” But when I go to Silicon Valley and I say,“What do you think about the word competition?,” they say, “Well, I love competition, because even when I lose, I learn something. Continue Reading...

Global Economy Stinks: Is Anyone Paying Attention?

It’s no secret that the economy of the European Union is, ahem, struggling. But Vikas Bajaj says the global economy is worse than anyone seems to want to acknowledge: In a new report released on Tuesday, the International Monetary Fund says that China, India, Brazil, Mexico and other developing countries are growing more slowly than previously thought. Continue Reading...

‘Central World Bank’ Would Hurt Cardinal Turkson’s Native Ghana

Last summer, Acton’s PovertyCure team traveled to Ghana to meet with its economists and entrepreneurs — the men and women who are helping the country develop. It just so happens that they also met briefly with Peter Cardinal Turkson, president of the Vatican’s Pontifical Council for Peace and Justice and co-author of the note released yesterday that has stirred up a global controversy. Continue Reading...

Vatican Releases Note on Global Financial Reform

This morning the Pontifical Council for Justice and Peace issued a bold statement advising how to bring order to the global financial crisis. I was in attendance at the much anticipated press conference that was organized to debrief reporters on the statement’s content. Continue Reading...