How Inequality Reduces Growth By William H. Janeway, Project Syndicate. December 3, 2020 How Inequality Reduces Growth2020-12-032020-12-03https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/12/inequality.jpg200px200px Above photo: Spencer Platt, Getty Images. There are numerous theories for why the US economy has continued to benefit the few at the expense of the many, and because these explanations are not mutually exclusive, it helps to consider them all. Fortunately, a new book by a leading light […]
Growth
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Since the outbreak of the COVID-19 pandemic India’s apex bank, the Reserve Bank of India, has infused liquidity worth $125 billion into the economy to stabilise financial markets. Central banks the world over have pumped $9 trillion into the global economy amid the pandemic. India’s apex bank RBI on Friday said the country’s economic growth, measured as Gross Domestic Product (GDP), is likely to contract […]
In such a fast-growing industry as crypto asset markets, it can be overwhelming to try to extract the main themes driving liquidity and investor interest. Yet, doing so helps to understand how relatively new markets evolve, and what the catalysts will be for the next big steps forward. The latest CoinDesk Research Quarterly Review focuses on three features that have exhibited astonishing growth in Q3 and […]
A store announces its looming closure in Salt Lake City on Aug. 30, 2020. An economic recovery is starting to show signs of losing momentum as businesses close and companies announce big layoffs. Rick Bowmer/AP hide caption toggle caption Rick Bowmer/AP A store announces its looming closure in Salt Lake City on Aug. 30, 2020. An economic recovery is starting to show signs of losing momentum […]
The super-charged trajectory of the cryptocurrency industry is translating to faster growth at the publicly traded digital-asset brokerage Voyager Digital, where revenue this quarter is tracking at an eightfold increase over the prior 12 months’ average pace. Voyager CEO Steve Ehrlich told CoinDesk in a Zoom interview that the company’s on pace for revenue of about $2 million during the fiscal first quarter that ends Sept. […]
Less than 0.2% of Friday’s daily options trading happened on CME, according to data from Skew. Source link
In cryptocurrency markets, newfangled “decentralized exchanges” like Kyber are piddling compared with more-established and centralized venues like Binance. But in the eyes of traders, it’s the upstarts who are winning lately – at least based on the year-to-date performance of digital tokens affiliated with the various exchanges. Take Kyber Network Crystal (KNC), which is used to pay trading fees on the decentralized exchange Kyber. The token’s […]
When India’s Supreme Court overturned the banking restrictions for crypto exchanges back in March, everything changed. Since then, Binance joined the Internet and Mobile Association of India (IAMAI), which played a key role in overturning the ban, and noted explosive growth via WazirX, the Indian exchange Binance acquired in 2019. A WazirX spokesperson told CoinDesk the exchange saw 150% more signups in many Indian cities from […]
As the number of bitcoin ATMs soars, one crypto analytics firm suggests they are increasingly being used to sidestep anti-money laundering (AML) controls. In its Spring report, published earlier this month, analytics company CipherTrace found bitcoin ATMs were frequently used to send funds to “high-risk exchanges” – trading platforms the company considers to be known for facilitating criminal activity and money laundering. “The percentage of funds […]
WAHINGTON (Sputnik) – A potential new wave of the novel coronavirus outbreak in 2021 could reduce global economic growth to nought, International Monetary Fund (IMF) Chief Economist Gita Gopinath said on Wednesday following the release of the updated World Economic Outlook. “When we have looked at the impact of a second wave that hits in, say, early 2021- in that case, instead of growth of 5.4 […]
One of the newer entrants to the decentralized finance (DeFi) space, Curve, is riding the wave of demand for the freshly issued Compound governance token, COMP, which has surged to a $774.3 million market cap since first being distributed on Monday. Curve is an automated market maker devoted exclusively to stablecoins. On Sunday, it saw $3.5 million in daily trading volume, according to its self-reported stats. […]
A conversation with the “Price of Tomorrow” author on the key structural challenge looming over the global economy. Two powerful and diametrically opposed forces are shaping the economy. On the one hand is inflationary economic policy, which keeps the price of assets like real estate and stocks rising ever higher, but at the expense of savings as the value of currency depreciates. On the other is […]
China says that its exports rebounded last month, beating most expectations of a sharp decline. However, the drop in the country’s imports accelerated as the coronavirus continues to crush demand. Data released by the General Administration of Customs shows that April’s exports surpassed $200 billion. This is a 3.5 percent rise from the previous year. Last month’s results reversed the 6.6 percent fall in March, as well as […]
Finland is one of the least-hit Nordic nations amid the ongoing pandemic, with 5,412 confirmed COVID-19 cases and 246 deaths; it has already started to lift the restrictions, but pundits predict a grim economic outlook. The coronavirus epidemic and the ensuing stern measures, including massive shutdowns and lockdowns, will have resounding economic repercussions, robbing Finland of decades of profits, Risto Murto, the CEO of Varma Mutual […]