In The News

Shock Absorber: US Retools Economy, Curbing Thirst for Oil

Justin Lahart August 18, 2008
As demand for oil surged and the world contended fleetingly with record-high prices, the US quickly adjusted: Companies develop new strategies to lower energy costs, and consumers turn to energy-efficient products. As the world’s largest user of energy products, the US can drive prices. “Whether this newfound energy austerity alters the fabric of American life in a lasting way will depend partly...

China’s Rumble With Globalization – Part I

Xu Sitao July 22, 2008
Conventional wisdom suggests that a booming economy can protect China from all economic woes. But this two-part series argues otherwise. China’s resistance to rising prices – despite the global pressure raising costs for food and fuel – has distorted economic policies and only delays the reckoning, argues economist Xu Sitao in the first article. “For a large developing economy with a unique...

More Pressure on Global Fish Stocks as Scientists Warn of Underreporting of Catches

Tim Radford July 17, 2008
Scientists have long known that global fish stocks were in trouble. Countries overfish and deplete stocks without thought to long-term consequences and population collapses. Researchers from the Sea Around Us, an international research group based at the University of British Columbia, visited 20 locations, talked to locals and estimated the amount of fish that were caught. They reached the...

Guidelines Call for Chinese Pay to Rise With Inflation

Kang Yi July 11, 2008
Chinese workers could soon receive a pay raise. To combat rising prices for food, energy and other basic goods, the government mulls proposals to address income inequality. Guidelines for salary reform mostly target private companies, report a team of authors for the Economic Observer Online, "as most of the low pay and low growth rate in salaries occurred in the private sector, especially...

Global Players Herald Change to Business Flow

Robert Weisman July 3, 2008
The US, as the world’s largest economy, carries less influence over other economies of the world. Brazil, Russia, India and China (BRIC) have reported rapid growth in recent years, thanks to innovative firms that have become leading exporters, reports Robert Weisman for the Boston Globe. Business no longer flows from west to east but in multiple directions, argues a team with the Boston...

A Self-Inflicted Wound

Jacob F. Kirkegaard July 1, 2008
The US, long home to many of the world’s most highly skilled workers, could soon be scrambling for replacements. Baby boomers are starting to retire, and their high education levels will be missed. Since the baby boomers emerged in the work force, the US became complacent about its public-education system. As a result, young American workers increasingly struggle to compete with skilled foreign...

The Economics of Solar Power

Peter Lorenz June 26, 2008
The sun offers plenty of free energy for just about everyone on the planet. As oil prices rise, economists suggest that solar power, even unsubsidized, can pay for itself within a few years in the sunniest markets that already pay high prices for electricity. Unfortunately, because the world relied almost exclusively on fossil fuels in recent decades, the solar-power industry is in its infancy:...