A bad year for economic punditry

Article Abstract:

Economists have made a number of significant misguided predictions in 1997. There have also been several cases of economists failing to predict important events. Few economists anticipated that recovery in sterling, for example, or the improvement in the UK's current account. Similarly, economists gave no indication of the possibility of a worsening of economic performance in East Asia. The International Monetary Fund has put forward a number of explanations for the economic difficulties in East Asia, including the long period of over-investment in the region.

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Apocalypse or economic correction? A calming guide for nervous citizens

Article Abstract:

Financial markets are beginning to accept that there will inevitably be a recession in certain countries and regions. This acceptance has been fuelled by the economic crisis in Russia and by signs of a loss of confidence on Wall Street. Around one-third of the world economy is in recession or depression, but the coming recession may not necessarily be as severe for the UK as previous ones. Indeed, there could be merely a period of very slow growth, rather than an actual recession.

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Bushonomics: the byword for a new economic orthodoxy?

Article Abstract:

The economic policies of incoming US President George W. Bush are discussed. The fact that Bush's economic programme is strongly pro-business is highlighted.

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