The myth of economic globalisation

Article Abstract:

It is believed that globalisation is affecting the economies of Europe because of increasing trade links across the world. However, while there may be increasing trade within regions, such as the EU or ASEAN countries, trade outside these areas has fallen or remained the same. This suggests that the regions are resisting further integration into the global economy. One explanation of why companies are not operating in low-wage countries is that they tend to remain in regions where there is pool of skilled workers, suppliers are on hand and the flow of information is easier.

Economics, European Union

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Irving Fisher's debt-deflation theory: its relevance to current conditions

Article Abstract:

Debt-deflation can occur due to falling asset prices, financial crisis, debt repayment difficulties, or the interdependency of the financial system. This is opposed to Irving Fisher's debt-deflation theory which avers that a drop in commodity prices increases the debt burden of borrowers. The 1987 stock market crash exemplifies this modern theory. Government bailouts of the financial system and lender-of-the-last-resort intervention help in aborting debt-deflations since lenders have a crucial role to play.

Case studies, Stock Market Crash, 1987, Deflation (Finance), Deflation (Economics)

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Keynes-plus: effective demand and changes in firm-level R and D: an empirical note

Article Abstract:

An increase in demand for the products of a firm tends to act as a stimulus for that firm to carry out research and development. Keynesians and Keynes have tended to ignore this characteristic of effective demand. Innovation by companies helps to boost profits, exports and employment, so this finding is significant. There are polic implications for this finding, which confirms the demand-pull view of Schmookler on investment in research by companies.

Industrial research, Economic development, Works, Keynes, John Maynard

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