Rise takes eurozone rates to 7-year high

Financial Times - Eurozone interest rates hit a seven-year high on Thursday but markets were relieved by a less hawkish tone from the European Central Bank, which damped fears of further rises to come.

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Global markets - Bearish battalions

Economist - The past six months could be seen as a dreary exercise in sharing out the pain. Will workers suffer by seeing their wages rise more slowly than inflation? Will companies have to compensate their workers by raising wages, sacrificing their profit margins? Will central banks treat high commodity prices as a [...]

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Will Trichet drive the world over a cliff?

Telegraph Blog by Ambrose Evans-Pritchard - Sadly, we are witnessing the sort of strategic errors that turned the recession of 1930 into a global catastrophe.

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Europe Grapples with Threat of Stagflation

Spiegel - As rising energy and food prices continue to fuel inflation, the economies in industrialized countries are beginning to stagnate. The mix, known as stagflation, presents politicians and central bankers with virtually insurmountable problems.

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Cost of a meal driven higher by hoarding nations

International Herald Tribune - At least 29 countries have sharply curbed food exports in recent months, to ensure that their own people have enough to eat, at affordable prices.

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Hedonic Man

New Republic, by Alan Wolfe - Happiness, of course, is anything but a new idea in Western thought. It is, for one thing, the core principle of utilitarianism, the philosophical outlook associated with James Mill and Jeremy Bentham, according to which the most accurate description of human beings is that they seek [...]

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Scarcity in an Age of Plenty

Project Syndicate by Joseph E. Stiglitz - The world needs to rethink the sources of growth. If the foundations of economic growth lie in advances in science and technology, not in speculation in real estate or financial markets, then tax systems must be realigned. Why should those who make their income by gambling [...]

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