Steve Keen, an associate professor at the University of Western Sydney, is well known for his attempts to highlight the failings of classical economics, as evidenced in say, modern portfolio theory (MPT) and the Capital Assets Pricing Model (CAPM). His arguments are many, subtle and various, and also quite often blindingly straightforward...
At the end of August 2010 the technology market watcher Gartner cut what had been a very optimistic forecast for the year-on-year growth of total global PC shipments for the second half of 2010 to just over 15%, down some 2% from its original forecast. That, of course, is still huge...
The Financial Services Authority—founded by ex-chancellor Gordon Brown in May 1997—is widely regarded as having made a dog’s breakfast of regulating the UK’s financial sector over the past decade. The Tories pledged to scrap the FSA before they gained power in May...
One of the well known evils of a deep downturn, though less immediately dramatic than horrors like unemployment, lost homes and blighted lives, is the way so many large companies improve their cash flow by choking their suppliers.
There is still much to be written about and finalized in the specifics of the new United States financial legislation. Since over 200 new rules are expected, which may take up to five years to implement, we think the ultimate implications remain uncertain and may vary widely from one institution to another.
Only a few months ago, Michel Barnier, the European Commissioner for the internal market, was being portrayed as a “bogeyman” in the City of London.The city’s hedge fund and private equity community were terrified the Frenchman wanted to regulate them out of existence as part of some French plot to usurp London as Europe’s leading financial centre.
At the end of July, in the height of the usual summer news famine, the business media leapt with delight on the fact that Chinese economy had, as the story put it, “overtaken the Japanese economy as the world’s second largest economy”.
Debates about financial reporting and accounting standards can seem arcane, tedious and irrelevant: angels dancing on the heads of pins stuff. However the current debate about whether international financial reporting standards drove banker recklessness is getting interesting.
It’s fashionable to be glum about China right now. Harvard University professor Ken Rogoff, along with hedge fund managers Hugh Hendry and Jim Chanos are among those predicting catastrophe or slump for the world’s second largest economy.
If you believe that increased shareholder engagement is the key to a corporate nirvana in which responsible investors can force companies to change their behaviour - for example by thinking longer-term and eschewing corporate excess - there's been a most welcome development.