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Food security in the twenty-first century

By Ian Goldin

There are currently about 7 billion people on Earth and by the middle of this century the number will most likely be between 9 and 10 billion. A greater proportion of these people will in real terms be wealthier than they are today and will demand a varied diet requiring greater resources in its production. Increasing demand for food will coincide with supply-side pressures: greater competition for water, land, and energy, and the accelerating effects of climate change.

Greece vs. the Eurozone

By Costas Simitis

The new Greek government that took office in January 2015 made a commitment during the election campaign that Greece would stay in the Eurozone. At the same time, it also declared that Greece’s relations with its European partners would be put on a new footing. This did not materialize. The Greek government accepted the continuation of the existing agreement with its lenders, the International Monetary Fund, the European Commission, and the European Central Bank. This was the only way of ensuring Greece would not run out of funding.

Capital flight from Africa and financing for development in the post-2015 era

By Léonce Ndikumana and S. Ibi Ajayi

The more money you make, the more you lose. That is the story of Africa over the past two decades. Indeed, along with the impressive record of economic growth acceleration spurred by booming primary commodity exports, Africa continent has experienced a parallel explosion of capital flight.

“Under the influence of rock’n’roll”

By David George Surdam

Rock’n’Roll music has defied its critics. When it debuted in the 1950s, many adults ridiculed the phenomenon. Elvis, Chuck Berry, and their peers would soon be forgotten, another passing fancy in the cavalcade of youth-induced fads. The brash conceit, “Rock’n’roll is here to stay,” however, proved astute. Why were American adults and, for that matter, their Soviet counterparts frightened of rock’n’roll?

Signs, strategies, and brand value

By Laura Oswald

The semiotic paradigm in market research gives new meaning to the expression, “You are what you eat.” The semiotic value of goods, from foodstuffs to cars, transcends their functional attributes, such as nutrition or transportation, and delivers intangible benefits to consumers in the form of brand symbols, icons, and stories. For instance, Coke offers happiness, Apple delivers “cool,” and BMW strokes your ego.

‘Buyer beware’: how the Federal Trade Commission redefined the word ‘free’

By Edwin Battistella

Last month marked the hundredth anniversary of the Federal Trade Commission, the regulatory agency that looks after consumer interests by enforcing truth in advertising laws. Established by the Federal Trade Commission Act of 1914 and signed into law by President Woodrow Wilson, the FTC opened its doors in March 16 of 2015, taking the place of the older Bureau of Corporations.

Are inheritances really that bad?

By Edward Wolff

On the surface, inheritances are a source of moral repugnance. When we think of inheritances, we tend to think of families like the Rockefellers and Vanderbilts whose great fortunes were passed from one generation to the next. We also tend to think of “trust fund babies” – those rare individuals who have received enough money in inheritances or gifts (often in the form of a trust fund) so that they have no need to work over the course of their lifetime.

Indiana’s RFRA statute: a plea for civil discourse

By Edward Zelinsky

On one level, I admire the public furor now surrounding Indiana’s Religious Freedom Restoration Act (RFRA). In an important sense, this discussion reflects the Founder’s vision of a republican citizenry robustly debating the meaning of important values like nondiscrimination and religious freedom. On the other hand, this public controversy has, at times, regrettably reflected failure on both sides to respect their fellow citizens and confront the merits of the issue in civil fashion.

Tax facts

By Richard S. Grossman

As long as rulers have needed money for the military, public works, or just to enrich themselves, they have relied on taxes. As Americans approach the dreaded April 15 income tax-filing deadline, it is worth considering some key facts about taxation. There are many different modes of taxation: individual income taxes, corporate profits taxes, capital gains taxes, property taxes, inheritance taxes, sales taxes, social insurance taxes, taxes on imports, and a whole host of government-levied fees that look and feel a lot like taxes.

What is Corporate Social Responsibility?

By Jeremy Moon

What is Corporate Social Responsibility (CSR) all about? Companies appear to be adopting new attitudes and activities in the way they identify, evaluate and respond to social expectations. Society is no longer treated as a ‘given’, but as critical to business success. In some cases this is simply for the license to operate that social acceptability grants.

Wither independent audit?

By Bob Tricker

The limited liability company was one of the most significant inventions of the nineteenth century. The state permitted the incorporation of corporate entities, with many of the legal rights of a person, whilst limiting the liability of their owners for the companies’ debts. Elegantly simple, the limited liability company proved amazingly successful. Unfortunately, the idea was so successful that today the notion has become confused and immensely complex. The entire concept needs reinventing.

Comic books and censorship in the 1940s

By David George Surdam

Comic books have long purveyed action, action, and still more action. Their plot lines do not simply progress, they are raging torrents of emotion, violence, and drama. They were a part of the mass commercialization of leisure during the twentieth century.

10 facts on China’s economy

By Shenggen Fan

China’s model of economic development has brought huge successes to the country in the last few decades. Alongside its achievements, however, are various implications to uneven growth: China’s nutrition transition displays changing diets that lean more toward unhealthy, less diversified diets; inequalities and rural-urban disparities are alarming; and environmental pollution together with food safety are raising concerns among consumers.

Ireland is on the way back

By Antoin Murphy and Donal Donovan

As we approach the annual St Patrick’s Day celebration, the story of the Irish economy in the last five years is worthy of reflection. In late 2010, the Irish Government, following in the footsteps of Greece, was forced to request a deeply humiliating emergency financial bailout from the International Monetary Fund (IMF) and the European Union (EU). Against the background of the recent controversy over the latest “Greek crisis”, what can be said about Ireland’s experience? Here are five relevant issues

How to make regulations a common good?

By Laszlo Bruszt and Gerald A. McDermott

Differences in regulatory norms are increasingly seen as the key barriers to the growth of regional and global markets, and regulatory disputes make up some of the most contentious issues in world politics. Negotiations among the most developed economies of the world about regulatory synchronization have made little progress in the last decade, and nearly all harmonization attempts failed when they had involved economies at lower levels of development.

Are ultra-low interest rates dangerous?

By Richard S. Grossman

The industrialized world is currently moving through a period of ultra-low interest rates. The main benchmark interest rates of central banks in the United States, the United Kingdom, Japan, and the euro-zone are all 0.50% or less. The US rate has been near zero since December 2008; the Japanese rate has been at or below 0.50% since 1995. Then there are the central banks that have gone negative: the benchmark rates in Denmark, Sweden, and Switzerland are all below zero. Other short-term interest rates are similarly at rock-bottom levels, or below.