Insights from the UK and beyond
From the econ blogosphere:
-- The libertarian Adam Smith Institute says here that the UK government should look at every government job, programme and department, and ask whether they are really needed. "Do we really need new school buildings....? Should taxpayers really stump up for free bus passes, or winter fuel and Chistmas bonuses for wealthy pensioners?"
-- VOX publishes this post from senior research fellow Willem Thorbecke of the Asian Development Bank on China's latest move on the dollar peg. "China's action may facilitate a concerted appreciation in Factory Asia, helping the region redirect production away from western markets and towards domestic consumers."
-- Karen Dynan, vice president for economics studies at Brookings, looks here at the latest U.S. jobs data and argues that Congress needs to extend unemployment benefits. "Reinstating the benefits would ... help the broader public by contributing to overall demand in goods and services and thereby mitigating the risks of a double dip in the economy."
BIG SPORTING EVENTS
-- Β And while the World Cup is still going on, here's a look by The Sports Economist at the economic impact of big sporting events on a community. "Research of (independent) economists looking at the historical record find, time and again, that the claims made by the (paid) consultants in the impact statements are overblown."