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Latest blog posts

  • The euro crisis

    Der Elefant im Raum

    by R.A. | WASHINGTON

    TYLER COWEN writes on the euro-zone economy:

    Would the new helicopter drop money be kept in periphery banks and lent out to stimulate business investment? Or does the new money flee say Portugal because Portuguese banks are not safe enough, Portuguese loans are not lucrative and safe enough, and Portuguese mattresses are too cumbersome?

    The former scenario implies that monetary policy should be potent. The latter scenario implies that the helicopter drop will be for naught and the fiscal policy multiplier also will be low, on the upside at the very least (fiscal cuts still might cause a lot of damage on the downside). I call this the liquidity leak, rather than the liquidity trap.

  • Punk fashion and the Met Ball

    An embarrassment

    by N.L. | CHICAGO

    IT WAS bound to be a disaster. For weeks New York society had been working itself into a tizzy about the theme for the 2013 Met Ball: punk. Designed to draw attention to the Metropolitan Museum of Art's new exhibition “Punk: Chaos to Couture”, the Met's annual sartorial gala promised a frothy mess of leather and lace concoctions on pilates-toned living mannequins. Indeed the red-carpet result, on May 6th, was duly irksome.

    It was a silly idea to begin with. Doing punk through the clothes is like trying to do hippiedom with peace symbols. Punk was never about the threads.

  • Politics in Pakistan’s biggest city

    A killing in Karachi

    by Banyan | KARACHI

    THE police in Karachi say they still have an open mind about the murder, late on May 18th, of Zohra Shahid Hussain, a senior politician with the opposition Pakistan Tehreek-e-Insaf (PTI), or Movement for Justice. The three young men on a motorcycle who attacked her outside her home may have been robbers, they say. Her party colleagues, however, are in no doubt that she fell victim to a political assassination. She died on the eve of a partial rerun in one Karachi constituency of the general election held on May 11th.

  • Artefacts

    Taking heads

    by J.J. | BEIJING

    THEY have fired diplomatic rows and auctions reaching as high as $40m. They have inspired an exhibit by dissident artist Ai Weiwei, as well as a tepid action film starring that born-again Chinese patriot by way of Hong Kong, Jackie Chan. They were even once cheekily offered up in exchange for Tibet. Now the bronze heads of a rat and a rabbit—part of a collection of 12 Chinese-zodiacal figures looted when foreign troops burned the Yuanmingyuan imperial gardens outside Beijing in 1860—are coming home at last.

    They had long languished in the collection of Yves St Laurent, a French fashion magnate.

  • Syria

    Uncontrolled demolition

    by M.S.

    SYRIA has been in a state of civil war long enough that it's now beginning to disintegrate, reports Ben Hubbard of the New York Times. His lead paragraph reads like a dispatch from the Wars of the Roses, or a trailer for a new season of Game of Thrones.

    The black flag of jihad flies over much of northern Syria. In the center of the country, pro-government militias and Hezbollah fighters battle those who threaten their communities. In the northeast, the Kurds have effectively carved out an autonomous zone.

    ...Increasingly, it appears Syria is so badly shattered that no single authority is likely to be able to pull it back together any time soon.

  • The internet of things

    Mote learning

    by M.H. | SAN FRANCISCO

    TAKE a vast windowless hall. Squeeze in hundreds of garish booths vying to produce the loudest and most obnoxious music possible. Then add thousands of busy people and bake at a high temperature for several days. Visiting a large conference or trade show can be an unpleasant experience, as Babbage can attest from many years of writing about technology. Precisely how unpleasant, though, no one has measured until now. At Google’s annual I/O conference for developers in San Francisco this week, scientists are finally trying to turn sharp elbows, raised voices and sweaty brows into cold, hard data.

  • Arab television

    Politician idol

    by F.V.T. | BEIRUT

    “OUR main challenge was not to be boring. You know, politics is boring and people are bored of politicians talking all the time,” says Mazen Laham, a Lebanese television producer whose show, The Leader”, sees contestants battle it out for the chance to win funding to stand as an independent candidate in the country’s upcoming elections, scheduled for June.

    Twelve thousand applicants were whittled down to 15 contestants, who then put their political manifestos to the nation. The winner, as voted by the audience, was Maya Terro, a 27-year-old unemployed economics graduate.

  • Syria's rivalrous rebels

    Top dog

    by Economist.com

    AS BRUTAL attacks continue on both sides of Syria's protracted civil war, our correspondent, recently returned from an opposition stronghold, explains the increasingly fraught dynamic between different rebel groups

  • Voting rights

    Pointless, punitive and permitted

    by J.F. | FORT LAUDERDALE, FLORIDA

    A REPORT released earlier this month by the Census Bureau found that in 2012, for the first time, voting rates of black Americans exceeded that of whites: 66.2% of eligible black voters cast ballots in the last presidential election, compared with 64.1% of whites (in 2008, the numbers were 64.7% of blacks and 66.1% of whites). Beneath those top-line numbers, however, lie significant gender-based disparities in voting. More than 70% of black women voted, while just 61.4% of black men did. Black women voted at higher rates than white men and women; black men's voting rates appear to be lower.

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