Bosses will no longer be able to count on financial-market stability as a buffer against disruption in their industries, because the macro-environment will become more volatile even as the microeconomic upheaval gets worse.The digital revolution will gain pace.
A Democrat-controlled Congress would pose a grave threat to the further liberalisation of world trade and so to world prosperity unless power prompted the party to become more responsible.Issue by issueOn microeconomic issues, the Democrats offer a grab-bag of policies.
One of the three possible variants is very similar to DCEs, making it well anchored in microeconomic theory (for more descriptive detail, see the companion paper [1]).
But it's a more general observation that even bad microeconomic policies, which lead to substantial distortions in the use of resources, have a hard time doing remotely as much damage as a severe economic slump, which doesn't misallocate resources — it simply wastes them.
ReprintsAlthough largely complimentary about the country's prudent macroeconomic policies since the ruling African National Congress came to power in 1994, the report says a lot more could be done on the microeconomic front to raise growth potential and enable living standards to catch up with those in OECD countries.
And microeconomic policy ought to do more than improve productivity and employment.
Writing to delinquent taxpayers and telling them that most fellow-citizens have paid up makes them more likely to cough up, too.At the microeconomic level (the actions of firms and individuals), the behavioural school is now well-established.
However, cash transfers give beneficiaries freedom of choice, may be cheaper to distribute and easier to monitor, and may be more "efficient" (under the assumptions of neoclassical microeconomic theory) than food transfers [ 19– 23, 24] 24].
On a macroeconomic level, developing countries are increasing production; while on a microeconomic level, speculative traders are becoming more involved in the market.
