" . . a long-standing relationship known as covered interest parity, or CIP — which states that the interest rate implied by the forward exchange rate in a currency swap should match the short-term interest rate in the home country of the currency that is borrowed in the swap — has completely broken down."
"Civilisations rise and fall on the vitality of their cultural ideals, not their material assets alone. History shows that most societies have sacred values for which their people would passionately fight, risking serious loss and even death rather than compromise. Our research suggests this is so for many who join ISIS, and for many Kurds who oppose them on the frontlines. But, so far, we find no comparable willingness among the majority of youth that we sample in Western democracies. With the defeat of fascism and communism, have their lives defaulted to the quest for comfort and safety?"
Mr Sanders has no serious chance of overhauling Mrs Clinton’s lead of 268 delegates in the nine remaining votes, the last of which, Washington, DC, is on June 14th. He would need to secure 68% of the delegates available, which, given that the Democrats hand them out in proportion to vote share, not all to the winner, is almost unimaginable.
“The Foxconn factory has reduced its employee strength from 110,000 to 50,000, thanks to the introduction of robots. It has tasted success in reduction of labour costs, . . . ”
Hoping Jobs for India Follow, Modi Clears Investors’ Path - The New York...
The changes are the most significant loosening of market restrictions since India began economic liberalization, with foreigners now permitt
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Special Relationship #4: Bernie Sanders and Beyond by The Economist | Fr...
Today, Celeste and John delve into the Bernie Sanders phenomenon and what it means for the future of Democratic and third-party politics. Fo
A Breakdown in Old Rules Leads to a Rethink on How Global Markets Work
The textbooks are no longer right.
CFA Institute Magazine : Can You Outthink a Smart Machine? | CFA Institu...
Illustration by Bob Scott. The title of this article is the existential question that artificial intelligence (AI) will likely raise for man
Why ISIS has the potential to be a world-altering revolution – Scott Atr...
All world-altering revolutions are born in danger and death, brotherhood and joy. How can this one be stopped?
Mathpix will solve handwritten math equations for you
Today is the first time in a decade that I actually wished I was back in school. Mathpix is an iOS app that can recognize and answer handwri
Premature deindustrialization proceeds apace - Marginal REVOLUTION
The South China Morning Post reports that iPhone maker Foxconn has replaced more than half of its workforce with robots since the launch of
The Donald Trump of North Korea by Christopher R. Hill - Project Syndicate
For the past several decades, North Korea has looked like an outlier, a holdover from more authoritarian times. Today, it looks more like an
The Donald Trump Show by Project Syndicate - Project Syndicate
With Republican voters’ overwhelming choice of Donald Trump as the party’s standard-bearer in November’s US presidential election, the ethos
Putting Profits in Perspective by Laura Tyson and James Manyika - Projec...
The fact that some US companies are generating returns that greatly exceed historical averages has been seen by some as an indication of a w
Immigration and the savings glut - Marginal REVOLUTION
If there truly is a savings glut, more immigration from lesser-skilled countries ought to do wonders. Those laborers would soak up more of t