Thursday, December 15, 2005

...regarding the DOHA round

Well, pictures speak a thousand words. So I'll let this cartoon from the economist tell the story so aptly portrayed.

oh, what the heck. I'll add a few words from an article in the Guardian today:

"...Developing world economies today turned on rich nations at the World Trade Organisation talks in Hong Kong over their reluctance to open up farming markets."

"...Developing economies say the EU, US and other rich nations must cut subsidies to their farmers and tariffs blocking imports as part of a global free trade deal."

"...The World Bank added to the indignation expressed by the least developed countries over their treatment at the WTO meeting, saying there had been much talk about development but too little action. "

So what's new? I could have predicted this outcome and saved all that money and time spent at these meetings. It's no wonder the book-keepers won't take any wagers on the outcome of the trade talks. I'm not being pessimistic, I'm being realistic.

If those responsible for distorting world markets want to do something about it, it won't be because a trade-round made them. It will be because they want to. And from that, I can infer that they don't want to, regardless of the consequences, which they are well aware of.

Let's face it, this problem and its ruthless consequences are not the backyards of the perpetrators. From their cloud-nine perspective, they don't give a damn!!!

Wednesday, December 14, 2005

Inflation beating cartoons

If only all economics could be taught this way. Imagine a world where financial economics, engineering, maths, etc could be taught to young people and kids alongside their favourite TV programs. Just imagine a maths cartoon after a dose of the Simpsons.
The European Central Bank, in cooperation with the national central banks of the euro area, has produced an informative cartoon titled "Price stability: why is it important for you?" for young teenagers and teachers in all the official languages of the European Union.

This tool consists of an eight-minute animated film featuring two secondary school pupils, Anna and Alex, finding out about price stability and learning about the "inflation monster".
Click on any link below to view the video:
Watch in Quicktime, Real player or Windows Media

Sourced from: Mahalanobis