I have been coming across some interesting posts today and still have to take a look at what’s in the RSS reader! This is stuff for topics that we cover later in the course, but I want to cite the reading already:
- From the Why Nations Fail blog: a post about South Africa and apartheid and we should stay tuned:
we discuss in the next three posts, moving to a new set of economic institutions has turned out to be much more difficult than most assumed in 1994.
- There are also a few (mad) ideas for fixing Greece. We will definitely debate these when we get to topic 5.
Finally, in a surpise move, the SARB cut the repo rate by 50 basis points earlier this afternoon. Cees Bruggemans writes:
With inflation back in the target zone, and projected to remain there for the foreseeable future, but with the growth prospect steadily deteriorating, globally as well as locally, the SARB deemed it appropriate to cut interest rates by 0.5%, repo rate falling to 5% and prime to fall to 8.5%.
There were some interesting tweets as well:
This rate cut is not good news. MPC cut because there is a real fear that the global slowdown is going to drag us down. Jobs etc at risk—
Bruce Whitfield (@brucebusiness) July 19, 2012