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| FT.com - Martin Wolf
FT.com - Martin Wolf
It is almost a year since the US subprime crisis went global.The hope that the repricing of risk would be no more than a brief interruption has been disappointed. So where is the world economy now? Martin Wolf suggests some answers
A big drop in British house prices is likely, partly because prices are extraordinarily high and partly because credit has dried up, says Martin Wolf
Tackling man-made climate change is much the most complex collective action problem in human history. Solving it will require concerted efforts from both developed and developing countries over at least a century. There is no choice but to try, writes Martin Wolf
The aim of this year's report by the Bank for International Settlements is clear: it is to reduce the frequency and severity of crises. It is not enough to say that we can clear up afterwards. That is too complacent and too one-sided, writes Martin Wolf
What is ahead will be tougher than the expansion the UK has been used to for16 years. But it's not the end of the world, writes Martin Wolf
In the short term, the biggest monetary policy requirement is a tightening in emerging economies, many of which have strongly negative real interest rates. As important is letting jumps in energy prices pass through, forcing adjustments in energy use, writes Martin Wolf
What explains the combination of a 'credit crunch' in the US with soaring commodity prices and rising inflation across the globe? Are these related events? So far this is not a return to the 1970s. But action is needed to keep this true, writes Martin Wolf
Investors have been able to buy the companies, replace the equity with debt and enjoy a licence to print money, writes Martin Wolf
Jeffrey Sachs has produced an analysis that manages to be both pessimistic and optimistic at the same time. One might not be quite as optimistic about the solutions. But one must recognise the salience of the challenges, writes Martin Wolf
Achieving sustained, rapid growth turns out to be very hard. This is no objection to the findings of the Growth Report – it is, rather, an admission of how little we know about such a complex economic, social and political process, writes Martin Wolf
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