How many people don’t have a bank account? And just how difficult has it become to live without one? These questions are becoming increasingly important as more businesses refuse to take cash in cities across the U.S. People without bank accounts are shut out from stores and restaurants that refuse to accept cash. As it […]
There is no economy without environment
Herman Daly had a flair for stating the obvious. When an economy creates more costs than benefits, he called it “uneconomic growth.” But you won’t find that conclusion in economics textbooks. Even suggesting that economic growth could cost more than it’s worth can be seen as economic heresy. The renegade economist, known as the father […]
Can the South Asian economy break from the past and find a route to stability?
Sri Lanka has a new president and prime minister – but a change in who leads the crisis-hit South Asian nation alone will not solve the country’s severe economic problems. Ranil Wickremesinghe – who on July 20, 2022, was voted in by lawmakers to replace fleeing former president Gotabaya Rajapaksa – and his appointed premier […]
Nigeria’s debt is sustainable, but dangers loom on the horizon
The World Bank recently ranked Nigeria fifth on the list of 10 countries to which it has the highest debt exposure. Nigeria owes the International Development Association – one of the two lending arms of the World Bank – US$11.7 billion. The International Development Association lends to countries based on their relative poverty or per […]