Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Woods’

Brexit Down on the Farm

Posted by hkarner - 12. August 2017

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A Brexit Strategy for a Weak UK Government

Posted by hkarner - 10. Juni 2017

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A Practical Agenda for Revolutionary Times

Posted by hkarner - 22. April 2017

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The Enlightenment of President Trump?

Posted by hkarner - 10. Februar 2017

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The New Xenophobia

Posted by hkarner - 8. Dezember 2016

Photo of Ngaire Woods

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Why Don’t We Trust Our Leaders?

Posted by hkarner - 4. August 2016

Photo of Ngaire Woods

Ngaire Woods

Ngaire Woods is Dean of the Blavatnik School of Government and Director of the Global Economic Governance Program at the University of Oxford.

AUG 3, 2016, Project Syndicate

OXFORD – In developed democracies today, political leadership is increasingly up for grabs. Voters, clearly tired of the status quo, want change at the top, leaving even major parties’ establishments struggling to install leaders of their choosing.

In the United Kingdom, Labour Party MPs have been stymied in their efforts to unseat Jeremy Corbyn as leader. In Japan, the ruling Liberal Democratic Party’s preferred candidate for Governor of Tokyo, Hiroya Masuda, lost in a landslide to Yuriko Koike. As for the United States, the Republican Party wanted virtually anybody except Donald Trump to win the nomination for the presidency; yet Trump it is. And while the Democratic Party is being represented by the establishment choice, Hillary Clinton, her competitor, Bernie Sanders, put up a much stronger fight than virtually anyone anticipated. Den Rest des Beitrags lesen »

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Unsustainable Development Goals?

Posted by hkarner - 18. April 2016

Photo of Ngaire Woods

Ngaire Woods

Ngaire Woods is Dean of the Blavatnik School of Government and Director of the Global Economic Governance Program at the University of Oxford. 

APR 14, 2016, Project Syndicate

OXFORD – From 2000 to 2015, the Millennium Development Goals (MDGs) focused minds and budgets on global poverty, significantly boosting people’s prospects in some of the world’s poorest countries. The new set of global targets, the Sustainable Development Goals (SDGs), aim to build on that progress, not only in eradicating poverty, but also in addressing a number of other challenges, such as broadening access to education and protecting the environment. But, this time, there are significant headwinds.

Recent geopolitical developments, such as the Middle East’s refugee crisis, are complicating government budgets and agendas. And commodity prices and emerging-economy investments, factors that bolstered progress toward achieving the MDGs, are now slumping. Without bold innovation, the new development agenda will be far from sustainable. Den Rest des Beitrags lesen »

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The Global Economy’s Stealth Resilience

Posted by hkarner - 4. März 2016

Photo of Ngaire Woods

Ngaire Woods

Ngaire Woods is Dean of the Blavatnik School of Government and Director of the Global Economic Governance Program at the University of Oxford.

MAR 3, 2016, Project Syndicate

OXFORD – Last week, Christine Lagarde, the International Monetary Fund’s managing director, warned that if countries do not act together, the global economy could be derailed. Likewise, the OECD has warned that countries must move “urgently” and “collectively” to boost global growth prospects. Yet the G-20 finance ministers and central-bank governors to whom these entreaties were directed failed to agree any such action at their recent meeting in Shanghai.

To be sure, the communiqué released after the meeting includes a pledge to use “all policy tools – monetary, fiscal, and structural – individually and collectively” to “foster confidence and preserve and strengthen the recovery.” But the communiqué also reflects distinct divisions – particularly with regard to the role of monetary and fiscal policy in stimulating growth – among the finance ministers and central bankers who agreed on its text. Den Rest des Beitrags lesen »

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The IMF’s Euro Crisis

Posted by hkarner - 28. Juli 2015

JUL 27, 2015 3, Project Syndicate

OXFORD – Over the last few decades, the International Monetary Fund has learned six important lessons about how to manage government debt crises. In its response to the crisis in Greece, however, each of these lessons has been ignored.

The Fund’s participation in the effort to rescue the eurozone may have raised its profile and gained it favor in Europe. But its failure, and the failure of its European shareholders, to adhere to its own best practices may eventually prove to have been a fatal misstep.

One key lesson ignored in the Greece debacle is that when a bailout becomes necessary, it should be done once and definitively. The IMF learned this in 1997, when an inadequate bailout of South Korea forced a second round of negotiations. In Greece, the problem is even worse, as the €86 billion ($94 billion) plan now under discussion follows a €110 billion bailout in 2010 and a €130 billion rescue in 2012.

The IMF is, on its own, highly constrained. Its loans are limited to a multiple of a country’s contributions to its capital, and by this measure its loans to Greece are higher than any in its history. Eurozone governments, however, face no such constraints, and were thus free to put in place a program that would have been sustainable. Den Rest des Beitrags lesen »

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