2nd August 2012
Is the current downturn a signal that something deeper and scarier is going on? Will the region's billions, accustomed to rapid progress, have to get used to slower growth? Simply put, is Asia losing its mojo? TIME
Milton Friedman, who would have turned 100 on Tuesday: "Small in stature but a giant intellect, he was the economist who saved capitalism by dismembering the ideas of central planning when most of academia was mesmerized by the creed of government as savior." WSJ
"If you buy a slice of pizza, and build a road, the economy grows," Mr. Obama tells the good people of Ohio (one of the key battleground states) as he continues his Economic Lecture Series amid a floundering economy. Zero Hedge
From JP Morgan's trading loss to the Barclay's Libor rigging scandal, global megabanks have had their toughest summer yet. Backed into a corner, economist Simon Johnson says the representatives of these too-big-to-fail banks are trying to defend themselves by falling back on three perpetuating myths. Economix
In this piece, Chris Dillow argues that you don't have to be a leftist or need to know basic economics to expect companies to commit crimes and the government to tolerate it (up to a point, of course). Stumbling and Mumbling
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