Global deflation is a good scare story but where's the evidence?

Article Abstract:

There are elements of truth in the claim that declining Asian stock markets could lead to industrial overcapacity, trade wars and ultimately deflation. However, it is possible to counter many of the arguments of those who feel that global deflation could emerge in the future. There is no evidence of global overcapacity, apart from in a small number of industries, and Asia, except Japan, remains in deficit to the rest of the world. It is not likely that a sharp slowdown in world demand will make it impossible for rising Asian exports to be absorbed without deflation.

Forecasts and trends, Deflation (Finance), Deflation (Economics)

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There's no need to throw the bubbles out with the bathwater

Article Abstract:

There have been renewed calls for a tax on international currency trades to discourage speculation. Those who support this tax, known as a Tobin Tax, believe that it is too easy for speculative bubbles in currency markets to push exchange rates very far away from the levels that would be justified by economic fundamentals. Imposing a small tax on currency transactions would, they argue, discourage sufficient short-term trading to stop exchange rates diverging from where they ought to be. However, there are many difficulties with a Tobin Tax.

Functions related to deposit banking, Foreign Exchange Dealers, Commodity Contracts Dealing, Taxation, Foreign exchange market

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Facing up to the hard financial facts of devolution

Article Abstract:

There are a number of economic factors which are likely to work against the Labour party's plans to devolve tax and spending powers to Scotland, Wales and the regions of England. At present, the population of the richer regions supports people in the poorer regions, and poorer regions will continue to require large subsidies even after devolution. There is also a conflict between true devolution of powers to tax and spend and control over public finances.

Economic aspects, Decentralization in government, Government decentralization

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