LARRY SUMMERS is right; this year’s Fed symposium in Jackson Hole was triply disappointing. In the weeks before the gathering, members of the Federal Open Market Committee (FOMC) publicly discussed their worries that the current monetary framework might leave the Fed unable to deal adequately with future slowdowns. 115 more words
Tags » The ECONOMIST
Threats to democratic rule in Africa are growing, but time and demography are against the autocrats.
Election irregularities in Zambia follow the typical pattern used across Africa: muzzle the opposition, use state power to harass their supporters, use state institutions that ought to be independent to carry out the bidding of the incumbent political party.262 more words
Patel-tale signs of orthodoxy
CENTRAL banks need the confidence of investors to function well, so questions about their leadership and independence are seldom welcome. On August 20th Narendra Modi, India’s prime minister, belatedly appointed a new head of the Reserve Bank of India (RBI), nine weeks after Raghuram Rajan, the incumbent, surprised everyone by announcing he was stepping down. 133 more words
“I AMWAY you this song!” So declared Tan Weiwei, a Chinese pop artist, during a performance in Shanghai on August 14th. Hers was the closing act in a gala celebration thrown by America’s Amway, the world’s largest direct-sales company, for its top sales representatives in China. 154 more words