MetaFilter posts tagged with economic

Once, sure. Twice, Maybe. Three? Four!?!

Dillonlikescookies — Tue, 05 Feb 2008 17:51:56 -0800

Much of the Middle East has been without reliable internet access recently due to the somewhat suspicious cutting of four seperate underwater cables, in seperate locations, within a few days of each other. The problem has been alleviated by re-routing of traffic until ships can reach the cables to repair them, a process which may take several weeks. The problem was initially believed to be caused by anchors of passing ships, but that has since been retracted and deals have already been signed by several companies for new cables. Without knowledge of the complex infrastructure we can’t really ascertain how unlikely four separate cables having near simultaneous problems is – but many are treating it as suspicious considering recent news. Personally, I think things may have been blown out of proportion by the limited information we have, although it was believed that Iran had been isolated by a single disabled router this is plain untrue and given the redundancies inherent in internet infrastructure it would be difficult if not impossible to fully cut off a country, but that is not to understate the consequences of these problems. On a related note, Iran has recently announced plans to move to trade oil with the Euro rather than the US dollar, which will cause further devaluing of the greenback. Saddam Hussein was in the process of doing the same before the US invasion, a decision reversed by the occupying force. Some are interpreting this as signs of an “info war” and while I don’t subscribe to the analysis, I find it interesting to consider the idea that in an age where increasingly large amounts of money can be attributed to companies based on estimated worth of intangible assets such as human networks and brand identities, the idea that you have to physically invade a country to do it economic damage is becoming outdated. There has been a documented shift towards “proxy war and if one agrees on the existence of this trend then more abstract forms of conflict between powers seem to be a likely follow up. If you do buy into the “information war” analysis there is ample fodder in the media, but more interestingly rumours of a theoretical invasion plan hint at a sophisticated attack not necessarily limited to military action. Indeed, Several large governments, such as the US, are spending increasing amounts of their military budget on more abstract forms of warfare (pdf) Again, although I don’t subscribe to this view, I find it interesting to consider as a growing trend a shift from conventional war to proxy war to purely economic warfare as engaging in open hostilities with any country becomes increasingly risky from a game theory point of view. See Also.

Did Vladimir Putin really turn around Russia's economy?

gregb1007 — Fri, 18 Jan 2008 02:34:30 -0800

Did Vladimir Putin really turn around Russia's economy? Washington Post's Fred Hyatt attempts to refute the conventional wisdom that Putin was responsible for Russia's turnaround from the economic instability of the "disastrous" 90s by offering a thorough counter argument to prove that Putin's effect on the economy was just the reverse. Hyatt believes that Russia's astonishing economic recovery should not be credited to Putin, but in fact to the fiscal solvency brought about by the reforms that were carried out in the late 90s by Yeltsin's prime minister Yevgeny Primakov.*1. Furthermore, he argues that Putin's crackdown on the free press and on independent businesses has had a disastrous impact on the economy by discouraging foreign investment. The result was stalled economic growth whose rate has dropped far behind that of the other former Soviet republics despite enormous growth in oil revenues. *2 *Primakov served as Yeltsin's prime minister in 1998-1999. *Russia's rate of growth used to be the 2nd best out of all former 15 Soviet republics when Putin took power in 2000, but dropped to 13th best by 2005. It can be argued that the Russian economy grew under Putin, but the rate of growth was highest just when he came to power and that his rule had the effect of dampening it.

Economic Principals and Some Pop CultureDavid Warsh

cgc373 — Thu, 29 Mar 2007 01:15:40 -0800

Each week, David Warsh publishes a new essay about the principals of economics. Previous topics have included rock 'n' roll economics, print journalism, and game theory. He sets his task and carries it out, and he's been at it for more than five years now.

Buying power using Big Mac Index

PetBoogaloo — Fri, 17 Nov 2006 09:24:11 -0800

The UBS Bank calculated how long it takes an average worker around the world to earn enough to buy a Big Mac. Workers in Tokyo were the fastest: Tokyo 10 minutes, New York 13 minutes, London 16 minutes, Hong Kong 17 minutes, Paris 21 minutes, Moscow 25 minutes, Rome 39 minutes, Beijing 44 minutes, Manila 81 minutes, Jakarta 86 minutes. Is this a fair comparison? Is it something that will change people's perspective about the rest of the world?

Freedom really is on the march?

hoverboards don't work on water — Mon, 11 Sep 2006 06:34:32 -0800

Economic Freedom of the World: 2006 Annual Report (Summary [PDF], full table [PDF, p.13]). Winners: Hong Kong, Singapore, New Zealand, Switzerland, and the USA. Losers: Zimbabwe, Myanmar and the Congos. How free are you? And why does it matter anyway? (PDF, HTML)