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The Latest Breaking News from Economics

Paul Bongiorno: Time overdue for a conversation about our welfare state

The penny is dropping even in the citadels of western capitalism that trickle-down economics is no longer fit for purpose – if it ever was.

The New Daily

Nobel prizes most often go to researchers who defy specialization – winners are creative thinkers who synthesize innovations from varied fields and even hobbies

Experts often recommend that people specialize in one field of work or research to maximize their chances of success. Yet our recently published research indicates that successful innovators take a broader path.

The Conversation

'I was very clear': Truss adviser insists he DID warn her about mini-budget risks

LIZ Truss’s own external economics adviser has insisted he warned her and the Chancellor about the risks of their mini-budget after Kwasi Kwarteng…

The National (Scotland)

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Kenya’s new finance minister has good credentials but he can't work miracles

President William Ruto has nominated Njuguna Ndung'u to head Kenya’s National Treasury. A Central Bank of Kenya governor for eight years between 2007 and 2015, Ndung'u is also an accomplished researcher and a University of Nairobi academic. He has extensive expertise in macroeconomics (inflation, economic growth, national income and unemployment)…

The Conversation

Nobel Prize Season Arrives amid War, Nuclear Fears, Hunger

This year's Nobel Prize season approaches as Russia's invasion of Ukraine has shattered decades of almost uninterrupted peace in Europe and raised the risks of a nuclear disaster. The secretive Nobel committees never hint who will win the prizes in medicine, physics, chemistry, literature, economics or peace. It's anyone's guess…

Asharq Al-Awsat

Reform the economics and governance of water

The floods, droughts, heatwaves, and fires that are devastating many parts of the world underscore two fundamental facts. First, damage to freshwater supplies is increasingly straining human societies, especially the poor, with far-reaching implications for economic, social, and political stability. Second, the combined impact of today's extreme conditions is unprecedented…

Bangkok Post

Michael Pascoe: RIP trickle-down economics – even the financial markets have given up

Trickle-down economics: The cry of “you can’t tax your way to prosperity” is joined by “you can’t tax cut your way to prosperity either”.

The New Daily

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Tamil Nadu should aim for public debt-GDP level of 18.36%: Study

Debt sustainability is possible only if fiscal deficit is brought down to 2%, says a Madras School of Economics paper

The Hindu

Keir Starmer calls trickle-down economics a ‘piss take’ as he slams Tory tax cuts

Labour has announced plans to end dependence on fossil fuels by 2030

The Independent UK

Forget trickle down, what the UK needs is middle-out economics

Liz Truss is banking on a failed policy. The focus should be on the real driving force behind economic growth

The Guardian - UK

Rishi Sunak said it was fairytale economics. That was one thing he got right

The markets have no faith in the mini-budget and the British people will soon feel its effects

The Guardian - UK

Starmer: Let’s set out alternative to Tories’ casino economics at conference

The Labour leader arrived in Liverpool on Saturday ahead of his party’s annual gathering.

The Independent UK

Tory MPs hit out after Treasury minister describes criticism of tax cut as ‘politics of envy’

Mr Kwarteng was accused of betting on trickle-down economics

The Independent UK

Government says tax cuts flack is 'politics of envy'

Labour accused PM Liz Truss and Chancellor Kwasi Kwarteng of dabbling in 'casino economics'

Wales Online

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The Guardian - UK

Tories gambling with the finances of British people, says Starmer

Labour leader attacks ‘casino economics’ in wake of £45bn package of tax cuts announced by chancellor

Reason

Are We Past 'Peak Petrostate'?

It's the economics of energy production that make petrostates more trigger-happy, Emma Ashford argues in Oil, the State, and War.

The Guardian - UK

Labour’s Angela Rayner: ‘We’re very radical – but it’s radical and responsible and realistic’

The deputy leader on Liz Truss’s ‘fanciful’ economics and why people are starting to listen to Labour again

The Conversation

Nigeria is producing less and less oil. Here's why

Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation of the Petroleum Exporting Countries in early September showed that Angola and Libya have overtaken Nigeria as Africa’s highest crude…

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Evening Standard

Analysis: Chancellor’s mini-budget presents Sir Keir Starmer with dilemma as UK returns to Thatcherite free market economics

The new Chancellor buried the legacy of Boris Johnson’s big spending, higher tax agenda

France 24

Windfall tax is a 'no-brainer', economist Jayati Ghosh says

Economist Jayati Ghosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for…

The Guardian - UK

When Trussonomics arrives, the big winner may well turn out to be Labour

The PM’s assault on economic orthodoxy is a leap in the dark with every prospect of backfiring spectacularly, says Guardian economics editor Larry Elliott

Daily Mirror

Joe Biden calls UK 'closest ally' as leaders present united front after barbed remarks

In recent days Mr Biden has hit out at "trickle down economics" in what has been widely interpreted as a dig against Liz Truss's tax cut plans, and the UK has admitted there is no immediate prospect of a trade deal

Evening Standard

What is trickle down economics? Liz Truss’s suggestion for the UK economy

Liz Truss and Joe Biden are at odds over her plans to increase growth

The Guardian - UK

‘No way’ Truss’s policies are trickle-down economics, says minister

Foreign Office minister Gillian Keegan replies to Joe Biden pouring scorn on tax cuts for the rich and businesses

The Independent UK

Liz Truss tax cuts for the rich are ‘not trickle-down economics’, Tory minister insists

Minister rejects label as prime minister says rich will benefit the most

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