Economy
The implications of gas crisis between Belarus and Russia
Paweł Luty: Recently, we have experienced a huge crisis between Belarus and Russia over natural gas. Belarus owed Gazprom millions of dollars. Minsk answered that Russians also had not settled their debt for the transit of LPG. Apart from the economic reasons, do you see any other source of the conflict?
Przemysław Żurawski vel Grajewski: [...]
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After the Crisis: What Kind of Capitalism?
Jażdżewski, Żakowski, Sobolewski, Bochniarz, Winiecki, Rybiński, Gutkowski
Leszek Jażdżewski: The greatest economic crisis of last thirty years seems to be over. But the example of Greece shows that the restitution will not be easy. The econimies of almost all of the developed countries are groaning under the weight of their debts. The public debt of the [...]
Floods and Economy
It is always good to think in economic terms – even in the time of flood. It is always good to think economicly – before the flood, after the flood and without the flood too. Upon the whole, if one thinks economicly, they are usually flooded with interesting prospects.
In concern that we all should be [...]
Why is Toyota in so much trouble in the US?
It’s been hard to find a newscast in that US and even around the globe that does not have a segment dedicated to the safety problems at Toyota. If you watch closely, there are a trail of clues that there is more to the story then what you are likely to hear about in traditional [...]
Strategies, scenarios and predictions: between science and mythology
Pitfalls of one scenario or projection
The following considerations do not aspire to give a systematic presentation of prognostication issues. Nevertheless, having been relatively close to this area since 1970s (i.e.: in the Committee ‘Poland 2000’ at Polish Academy of Sciences PAN) I believe I posses certain observations in the matter, which are worth presenting to [...]
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Reflections on the Financial Crisis
I am going to make several unrelated points, and then I am going to discuss how we got into this financial crisis and some needed changes to reduce the risk of future crises.
Some Observations
First, we should close down as promptly as possible Fannie Mae and Freddie Mac. There never was a reason for those two [...]
China in the economic crisis
When the autumn of 2008 began with the global economic crisis, the world’s eyes turned to the growing economy – China. Many questions were asked: how Middle Kingdom will manage with the increasing problems, whether they will be the beginning of the political changes and finally whether the entirety system will lead to a redefinition [...]
A different view on bonuses and CEO compensation
It’s all the rage these days to decry evil corporations and their greedy executives. Most recently, there is a huge brouhaha about money paid out in bonuses to 70 some executives at AIG, a much bailed out, large insurance company. With politicians and the media climbing over each other to show how [...]
Origins of the Financial Market Crisis of 2008
I begin by describing the factors that contributed to the financial market crisis of 2008. I end by proposing policies that could have prevented the baleful effects that produced the crisis.
Factors Contributing to the Financial Crisis
At least three factors exercised significant influences on the emergence of the global financial crisis.
Factor One: Expansive Monetary Policy
The basic [...]
Development strategies: a matter of choice
European Union is in the state of war. It is a war that has begun decades ago, new battlefields open almost every day and our armies are in retreat in most battles, on earth, in the air and in the deep waters. Our enemies mobilized unprecedented resources, their armies outnumber the Union forces, hundreds of [...]
