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The Latest Breaking News from Economics

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 Conversation

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

The Guardian - UK

Anthony Albanese defends decision for no 'cash splash' in budget

Prime Minister Anthony Albanese says a budget cash handout would have been "cheap politics and hugely expensive economics".

ABC News

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Commentary: Liz Truss’ downfall won’t end trickle-down economics

With former British Prime Minister Liz Truss’ free-market reforms having severely wounded the British economy, a chorus of pundits have claimed that the end of free-market thought is upon us. Who could at this point be so foolhardy as to claim that simply cutting taxes for the rich — and…

Los Angeles Times

Michael Pascoe: Innocent victims of the great inflation conundrum

The Economics 101 picture the Reserve Bank paints of inflation fighting doesn’t tell anywhere near the full story.

The New Daily

Costa Rica’s World Cup fans hit by global economics

Surging interest rates and depreciating currencies may force some to cancel their travel plans.

Al Jazeera

Economist Ha-Joon Chang: the Tory mini-budget was like trying to bring back terrible Tex-Mex

In a mouth-watering new book, the South Korean academic fuses his twin passions of food and economics to interrogate capitalism

The Guardian - UK

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Foreign Affairs

Scottish independence: how Nicola Sturgeon's pledge to rejoin the EU could impact a referendum vote

In its new white paper on the economics of independence, the Scottish government made it clear that rejoining the EU was central to its vision of how Scotland could prosper outside the UK. Rather than simply being a question of whether Scotland should be part of the UK, the first…

The Conversation

'Free': Chronicle of a childhood in Albania during the fall of communism

Growing up in Albania, our guest had a childhood of two halves. One was lived in plain sight, since she was brought up at school to believe and love the communist doctrine of Albania's Enver Hoxha and Soviet leader Joseph Stalin. The other half was hidden, as she slowly discovered…

France 24

Sterling rises to highest level since before Liz Truss’s mini-budget – as it happened

Live, rolling coverage of business, economics and financial markets as business group warns on austerity ‘doom loop’ and investors buy UK bonds

The Guardian - UK

Rishi Sunak will be PM, but don’t get too excited: trickle-down diversity doesn’t work

The Tories have been feted for having minorities at the top, but that’s less of a panacea than you might think, says Marcus Ryder, host of the podcast Black British Lives Matter

The Guardian - UK

Alan Kohler: Deficits and debt are about politics, not economics

Chalmers' budget has no surpluses, only deficit and debt. His “big national conversation” needs to be about why that’s OK.

The New Daily

We think of Britain as a world-beating economy. We would be better off thinking about Taiwan

Instead of living with this delusion, leaders should examine emerging market economies and try to emulate their success, says Guardian economics editor Larry Elliott

The Guardian - UK

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The Guardian - AU

The Coalition scoffed at the idea of a wellbeing budget. But Australians want Jim Chalmers to deliver

The approach labelled ‘hippy economics’ is one that experts and the public are crying out for

The Guardian - UK

Edible Economics by Ha-Joon Chang review – a different set of recipes

The Korean economist takes aim at the neoliberal order of low taxes and deregulation through the unlikely medium of food

Reason

Using Today's Economic Woes To Teach Teens Finance

At least we can treat the results of bad policy as case studies for what might otherwise have been dry lessons in economics and finance classes.

The Independent UK

Hunt: Scottish independence case based on extremist, crank think-tank economics

The Chancellor was responding to a question by the SNP’s Stewart Hosie.

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The Independent UK

Archbishop of Canterbury ‘deeply sceptical of trickle-down economics’

During a tour of Australia, Justin Welby expressed his concerns about tax cuts for the very wealthiest.

AFP

UK's Truss struggles to salvage premiership

London (AFP) - Britain's Prime Minister Liz Truss insisted on her commitment to economic discipline but Conservative critics stepped up warnings Sunday that the party faces electoral oblivion under her crippled leadership.

Daily Mirror

Joe Biden brands Liz Truss's tax cut plans a 'mistake' in blistering broadside

The US President said he 'wasn't alone' in thinking Liz Truss and Kwasi Kwarteng's plans were going to fail, having previously lashed out at 'trickle-down economics'

inkl Originals

The Weekly Wrap for Saturday, 15 October 2022

On Monday the Sveriges Riksbank prize (the Nobel Prize for Economics) was awarded to Ben Bernanke. We can trace the last century of American economics in his life's work. He's often described as the saviour of the last recession. But what about this one?

Daily Mirror

Excruciating moment Tory confronted with old tweet slating Truss's 'fairytale' economics

Today programme presenter Nick Robinson brought up a tweet from a TV leadership debate on July 15, where Mr Hands said: 'Rishi speaks out against more debt and “fairytale” economics'.

ABC News

Consumer advocates welcome government's plan to overhaul payday lending sector

The Senate economics committee will today hear from financial counsellors, consumer advocates and the complaints authority on the proposed changes and problems within the sector.

The Guardian - UK

‘They are stealing Russia’: Adam Curtis on how hyper-capitalism wrecked a nation – and why Liz Truss must take heed

In the 1990s, Russia embraced an extreme economics that led to chaos and corruption. Now, writes the maker of explosive new series TraumaZone, Liz Truss is taking Britain down the same toxic path

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