News stories by Jomo Kwame Sundaram, page 15

SYDNEY and KUALA LUMPUR, Apr 05 (IPS) - The world is sailing into a perfect storm as key leaders seem intent on threatening more war, albeit while proclaiming the noblest of intentions. By doing so, they block international cooperation to create conditions for sustainable peace and shared prosperity for all.

SYDNEY and KUALA LUMPUR, Mar 29 (IPS) - The spectre of ‘stagflation’ threatens the world once again. This time, the risk is the direct consequence of political provocations and war, and not simply due to inexorable economic forces.

SYDNEY and KUALA LUMPUR, Mar 22 (IPS) - “If your only tool is a hammer, every problem looks like a nail”. Still haunted by the clever preaching of monetarist guru Milton Friedman’s ghost, all too many monetary authorities address every inflationary threat or sign they see by raising interest rates.

SYDNEY and KUALA LUMPUR, Mar 08 (IPS) - All too many developing countries have been persuaded or required to prioritize inflation targeting (IT) in their monetary policy. By doing so, they have tied their own hands instead of adopting bolder economic policies for growth, jobs and sustainable development.

SYDNEY and KUALA LUMPUR, Mar 01 (IPS) - All over the world, people expect policies by central bankers trained in economics to have a sound scientific base. But in fact, inflation targeting is an article of faith with neither theoretical nor empirical basis.

SYDNEY and KUALA LUMPUR, Feb 22 (IPS) - COVID-19 has exposed major long-term economic vulnerabilities. This malaise – including declining productivity growth – can be traced to the greater influence of finance in the real economy.

NEW DELHI and KUALA LUMPUR, Feb 15 (IPS) - A recent Food and Agriculture Organization (FAO) study shows the largest farms cultivate a high and increasing share of agricultural land in much of the world.

SYDNEY and KUALA LUMPUR, Feb 08 (IPS) - Calls, even screams, to fight inflation above all else are getting shriller. Thankfully, even The Economist (5 Feb. 2022) reminds all, Fighting inflation could put the world in a slump.

No inflation consensus International Monetary Fund (IMF) Managing Director Kristalina Georgieva doubts the world faces a runaway inflation threat. She urges policymakers to carefully calibrate fiscal and monetary policies, with more “specificity”, as not ‘one size fits all’.

SYDNEY and KUALA LUMPUR, Feb 01 (IPS) - Inflation hawks are winning the day. The latest ‘beggar thyself’ race to raise interest rates has begun. This ostensibly responds to the spectre of runaway inflation, supposedly retarding economic growth and progress, and thus threatening central bank ‘credibility’.

KUALA LUMPUR, Malaysia, Jan 25 (IPS) - Many factors frustrate the international cooperation needed to address the looming global warming catastrophe. As most rich nations have largely abdicated responsibility, developing countries need to think and act innovatively and cooperatively to better advance the South.