Venezuelan President Nicolás Maduro created a new cryptocurrency called the ‘Petro’ to combat hyperinflation.
Reuters/Carlos Garcia Rawlins
When an elected leader turns autocratic, the economy tends to suffer. That's because, in a functioning democracy, economic policy is made jointly, with lawmakers playing a key role.
Morals and the markets can mix after all.
Cyril Ramaphosa’s economic stimulus package shows that he and his political allies are in charge of economic policy.
Ramaphosa's stimulus package is more interesting for what it says about the politics of economic decision making than for its likely impact on the economy.
Households feeling the pinch from frozen wages feeds into slower economic growth, and policymakers need to find a solution.
Governments can't undo the technological changes behind frozen wages and rising inequality. The best policy is to invest in education and training to give workers skills of value in the new economy.
Central Asia is at the centre of two new initiatives by China and Russia that run against a longstanding economic vision of the US.
‘Radical economic transformation’ in South Africa needs to move beyond rhetoric.
South Africa's governing ANC has always seen economic growth as the driving force for change. This was wishful thinking as the damage done by apartheid will take far more to undo.
The treasurer referred to the A$13 billion “zombie” measures the Senate has failed to pass as a “Senate tax”, in justifying the tax increases in this budget.
The budget was extraordinary in many ways. It is an abandonment of restraint on taxes by a liberal government. It is nakedly populist and it also acknowledges that government debt can be productive.
Maybe this is why Trump doesn’t care for economists.
Charles Rex Arbogast/AP Photo
President Trump downgraded the chair of the Council of Economic Advisers from its perch on the Cabinet. Should we care?
The system is rigged for a small minority to profit, but are we brave enough to deploy the solutions that would work?
Fistful of nothing.
India is engulfed in chaos after Prime Minister Narendra Modi introduced the wrong policy at the wrong time.
Some heavy hitters think it’s time the RBA’s role shifted a little.
Independent Senator Nick Xenophon wants the RBA to focus on economic growth, and he's not alone.
The global economy may be more fragile than at any time since the financial crisis, Malcolm Turnbull said today.
Prime Minister Malcolm Turnbull's first major post-election economic speech revealed not a hint of awareness that large swathes of the electorate had been unpersuaded by his major policy programs.
Hawkers sell goods on the streets of Zimbabwe’s capital, Harare. Imports of bottled water from South Africa have been banned.
The control of imported goods is a quick fix that doesn't resolve fundamental economic problems. It must be accompanied by a policy focus on macroeconomic issues, labour and agriculture.
Tony Abbott can rest assured he has made a lasting contribution to Australia’s future.
Tony Abbott spent just shy of two years as Prime Minister, but that doesn't mean he didn't leave a lasting legacy.
Fixing South Africa’s perilous education system will involve building consensus – a time-consuming process.
South Africa's government should put more effort into developing concrete strategies for dealing with the factors preventing the removal of the critical constraints on economic growth.
Julius Malema, leader of the Economic Freedom Fighters (EFF). He has openly questioned Nelson Mandela’s economic policy legacy.
South African opposition politician Julius Malema has blamed economic policies put in place during Nelson Mandela's era for the country's high levels of inequality. He may have a point.
A view of Alexandra township, a slum overlooking the Sandton skyscrapers in Johannesburg. Addressing inequality has been a major challenge for South Africa.
Will Thomas Piketty's visit to South Africa trigger the rewriting of the country's recent economic history? His analysis and ideas on how to address inequality are hard to ignore.
The main strategy of Modi’s economic advisers in the first year has been to treat the Indian economy as the proverbial elephant in the room.
Xing Zhe CHINA OUT/EPA/AAP
Mindful of the short attention span of voters, Modi's economic advisers have been careful to avoid selling economic policy as the answer to India's problems.
Australia’s GST is considered a regressive tax, so the idea of extending it to fresh food is considered unfair. A more detailed analysis reveals it’s not that simple.
With the federal government’s review of taxation about to get underway, many are expecting Australia’s Goods and Services Tax to be up for change. In this GST series we take a closer look at the evidence…
How many Osbornes does it take to change an economic outlook?
Anthony Devlin/PA Wire
An opinion poll taken in the wake of George Osborne’s Autumn statement reveals that just 27% of people think the British economy is in good shape. This was a decline compared to a survey taken just three…