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11
Dec
2017
31
Oct
2017

Prof Séamus Grimes of NUI Galway is one of the leading Irish academic experts on China's economy and he has focused his recent research on the evolution of the indigenous high tech sectors in both Ireland and in what is again the world's biggest economy (adjusted for price differences using what are called Purchasing Power Standards), since it lost its place to Great Britain in 1820. Last week at the university, Prof Grimes made a presentation on China's massive 'One Belt, One Road'/ Silk Road intercontinental project, that was first announced by President Xi Jinping in 2013.

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10
Oct
2017

On Monday Lawrence Summers, Harvard economist, former Treasury secretary and director of the National Economic Council in the first term of President Obama, in effect called President Trump's top 3 economic advisers lying fraudsters in his monthly column in The Washington Post and The Financial Times. He said their tax-cutting proposal was "a melange of ideas put forth without precision or arithmetic" and it was easy to demonstrate that the claims, including the assertion that domestic investment will be spurred by corporate tax cuts, were "some combination of ignorant, disingenuous and dishonest."  Meanwhile, William Lazonick, professor of economics, University of Massachusetts Lowell, has published a paper on the disconnect between the real American economy and what he calls "the legalized looting of the US business corporation."

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18
May
2017

The 2016 Democracy Index, published this year by the Economist Intelligence Unit (EIU) — a sister company of the Economist — shows that almost one-half of the world's countries can be considered to be democracies of some sort, but the number of "full democracies" has fallen from 20 in 2015 to 19 in 2016. Ireland has a joint ranking of 6 while the US has been downgraded from a "full democracy" to a "flawed democracy" because of a further erosion of trust in government and elected officials there.

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14
Mar
2017

On Monday the US Congressional Budget Office report on Trumpcare — the replacement for the health insurance system that the Obama Administration proposed for Americans without employer provided health insurance — estimated 14 million people losing insurance in the first year 2018 and 24 million by 2016, with premiums soaring for older, lower-income Americans. The CBO says Trumpcare would cut the annual budget deficit about $30 billion a year in a $19 trillion economy.

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24
Jan
2017
16
Jan
2017
7
Dec
2016

Despite the US economy doubling in size in inflation-adjusted terms in the 34 years from 1980 to 2014, a new paper suggests that "almost all of the meager growth in real bottom 50% post-tax income since the 1970s comes from Medicare and Medicaid (the federal programs for old and poor people). Excluding those two transfers, average bottom 50% post-tax income would have stagnated around $20,000 since the late 1970s. The bottom half of the adult population has thus been shut out from economic growth for over 40 years, and the paltry increase in their disposable income has been absorbed by increased health spending."

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3
Oct
2016
28
Sep
2016