Similarly, long-run returns provide support for the grand theory of inequality set out in 2013 by Thomas Piketty, a French economist, who suggested (based in part on his own data-gathering) that the rate of return on capital was typically higher than the growth rate of the economy.
But low rates of return also mean that government-debt burdens may prove easier to manage than thought—and perhaps that government borrowing could be used more aggressively in times of economic weakness to make up for central-bank impotence.
Theirs is the first such data set to gather all of that information for so many countries over so long a period.
Apple’s market capitalisation rose to over $800bn for the first time.The social network made a net loss of $2.2bn, but investors homed in on signs that the rate at which new users sign up is slowing:
Mario Draghi defended negative rates in a speech to the legislative assembly in the Netherlands.The government recently agreed to a series of reforms in order to unlock the latest tranche of loans under the rescue package agreed with international creditors.
The World This Week - BusinessElliott wants Akzo at least to talk to PPG, arguing that its decision not to is a “flagrant breach” of its fiduciary duties.
Even if the monk can run away, his temple cannot run with him.