The primary commodity price boom early this century has often been attributed to a commodity ‘super-cycle’, i.e., a price upsurge greater than what might be expected in ‘normal’ booms. This was largely due to some minerals as most agricultural commodity price increases were more modest. This minerals boom improved many developing
Author: Jomo Kwame Sundaram, IPS
Exchange rate movements due to interest rates, speculation, not fundamentals
Currency values and foreign exchange rates change for many reasons, largely following market perceptions, regardless of fundamentals. Market speculation has worsened volatility, instability and fragility in most economies, especially of small, open, developing countries. US Fed pushing up interest rates For no analytical rhyme or reason, US Federal Reserve Bank (Fed) chairman
US policies slowing world economy
Few policymakers ever claim credit for causing stagnation and recessions. Yet, they do so all the time, justifying their actions by some supposedly higher purpose. Now, that higher purpose is checking inflation as if it is the worst option for people today. Many supposed economists make up tall tales that inflation
Needed global financial reforms foregone yet again
Calls for more government regulation and intervention are common during crises. But once the crises subside, pressures to reform quickly evaporate and the government is told to withdraw. New financial fads and opportunities are then touted, instead of long needed reforms. Global financial crisis The 2007-2009 global financial crisis (GFC) began in
Better late than never, but act now
The world should now be more aware of likely COVID-19 devastation unless urgently checked. Last week, the World Health Organization (WHO) announced an US$8 billion plan to quickly vaccinate many more people to expedite ending the pandemic. New WHO plan Perhaps frustrated after being ignored by rich country governments and major vaccine