Looking forward to reading this book!
"The Long Run: A New History of the International Financial System" by Paul Schmelzing.
"A bold new history of global finance over seven centuries—and what its long evolution reveals about the future of the world economy. The twenty-first century has been marked by what many see as unusual instability in global finance—negative interest rates, geopolitical tensions, and unprecedented market interventions. What if these developments are not an aberration but rather a return to deeper historical patterns? In this ambitious new history, Paul Schmelzing draws on thousands of archival sources to reconstruct the evolution of the international financial system from the Renaissance to today. He shows how long-run trends in interest rates and asset markets helped shape our modern system—and how those trends may now be reversing. That system took form during the upheavals of the sixteenth century, when governments—starting with the Habsburg Empire—emerged as the world’s most trusted borrowers and their debt became the foundation of modern markets. Over time, this arrangement culminated in America anchoring the international financial order. Now, that long-standing order is eroding. As debt rises, financial pressures mount, and China’s economic trajectory converges with the West's, the world could be entering a new era of instability—one that, in key respects, echoes the financial system that existed before 1550."
Available for pre-order from Yale University Press:
https://t.co/xHtD4Guxvs
Available for pre-order on Amazon:
https://t.co/3jQ7cepreB
Why the Harvard Business School student delegation visiting Pakistan's army chief and the military dictator Asim Munir - It does not make any academic sense and it is morally indefensible.
Today was the first day of the semester at Penn, and I started my course in Global Economic History!
The lecture was fun, and I tried to convey not only why economic growth is so important but also that anything we could have done to increase growth over the last 100 years would have had monumental consequences: we would have many more resources to eradicate global poverty, manage the fertility collapse and population aging, clean up the planet and decarbonize the economy, and, more generally, offer better opportunities to everyone across the globe.
Artificial intelligence, cheap energy, and modern science and technology have opened the doors to fundamental changes and opportunities, but only if we know how to take advantage of them.
The slides are here:
https://t.co/P4RykL2tTC
Nonetheless, I reminded the students of something perhaps even more fundamental. Many of the topics we will cover admit more than one interpretation of the evidence or hinge on how you weigh the outcomes. Does industrial policy work? If it does, is the cost worth paying?
I told them many times that they do not have to share my reading of the evidence or my criteria for judging outcomes. I have changed my mind about several of these questions, and experts have a poor record on economic growth over the past century.
I also told them we will grade their homework and exams based on command of the material, not on their agreement with me, and that I will try to set questions that agreement cannot answer, but understanding of the material and the arguments presented.
John Stuart Mill summarized the reason well:
He who knows only his own side of the case, knows little of that…Truth gains more even by the errors of one who, with due study and preparation, thinks for himself, than by the true opinions of those who only hold them because they do not suffer themselves to think.
Put another way: I would rather have my students reach the wrong conclusion by their own reasoning than the right one by taking my word for it. After all, independent thinking gave us modern science and technology. Let’s have more of it!
A-Level Physics, Chemistry & Biology Tuition by a Young Paraplegic A-Star Student
My name is Syed Suleiman Tariq Zaidi, age 20. Two years ago, I suffered a road accident that caused a T9 spinal cord injury, leaving me paraplegic. My father passed away from COVID-19 in 2020, and my mother is my only support.
Despite my circumstances, I prepared for my A-Level exams from home and achieved A* in Physics, Chemistry and Biology in A2. From Playgroup to A-Level, my academic record has remained outstanding.
I can teach O-Level, Pre-O-Level and A-Level Physics, Chemistry and Biology online. I cannot teach Computer Science. This would be my first teaching experience, but I am confident that with my knowledge and dedication, I can help hardworking students achieve excellent results.
I am looking for students so I can earn honestly and contribute towards my treatment and household expenses.
Suleiman Tariq: 03355204046
My people anywhere from Pakistan. If your kids require online tuitions please look into it and spread the word. Thanks
What is happening to @imrankhanPTI is an abuse on every conceivable level.
Passively monitoring the situation is plainly not enough. It is time for active diplomacy.
-An urgent letter to Foreign Secretary Ed Miliband
I’ve met Imran Khan, Pakistan’s ex-PM, many times. I greatly like and admire him as a person, and hope the current leadership in Islamabad will realise how much damage his treatment in prison is doing to Pakistan’s image internationally. He clearly needs urgent medical care.
#PAKWatch🇵🇰: The Pakistani government has challenged a Supreme Court order to move jailed former Prime Minister Imran Khan to a private hospital for medical treatment.
THE PAKISTANI GOVERNMENT = A BUNCH OF LOW-LIFES = THIRD WORLD.
FREE IMRAN KHAN.
یہ ہو کیا رہا ہے اس ملک میں ؟
یہ آخر چاہتے کیا ہیں ؟
سپریم کورٹ کی 48 گھنٹے کی ڈیڈ لائن رات 12 بجے ختم ہو گی ۔ لیکن اب تک عمران خان کو اسپتال منتقل نہیں کیا گیا۔ یہ اوقات ہے اس ملک میں عدالتی فیصلوں کی ۔
26 ویں اور 27 ویں ترمیم کر کے عدالتی نظام پہلے ہی مسمار کر دیا تھا اس کے بعد اگر ججوں نے عمران خان کو تین سال بعد ریلیف دے کر تھوڑی ہمت کی ہے تو اس ناجائز حکومت نے فیصلہ ردی کی ٹوکری میں پھینک دیا ہے ۔ دنیامیں جتنی مرضی سفارتکاری کے جھنڈے گاڑھیں جب تک اپنے لوگوں کو انصاف نہیں دیں گے دنیا عزت نہیں کرے گی ۔ نہ آپ کی نہ آپ کے عدالتی نظام کی
Pakistan 🇵🇰 is now a declared criminal enterprise with plunder by the elite institutionalised to a point where it is irreversible … be it the newly exposed energy mafia , water mafia , transport mafia , builders mafia , land mafia , sugar mafia , wheat mafia , tax mafia , and the mothers of all mafias , the Government of Islamic Republic of 🇵🇰 inefficient , corrupt and illegitimate … and full partners in crime .. …
Posso farvi una richiesta? Per favore, non smettete di parlare della Palestina. Lasciate un punto per influenzare l'algoritmo. 💔🇵🇸 Mi seguireste per sostenere?
🚨🚨Bushra Bibi’s family agreed not to publicly discuss details of their meetings with her, nor politicise them, on the understanding that they would be granted regular access. However, it has now been four weeks since they were last allowed to see her.
During their last meeting, the family were deeply distressed by her condition and cried for days afterwards. They described significant weight loss and serious eye-health concerns. One of her eyes is stitched closed, while the sight in the other is deteriorating. They also stated that there have been serious delays in receiving medical attention and that prison conditions, as well as the treatment of certain staff members—particularly a woman named MARIAM—have contributed to her mental suffering. A gutter outside her cell is deliberately kept open, making her cell unbearable and infested with insects.
Bushra Bibi has also reportedly said that Imran Khan’s conditions are similarly concerning and that he continues to suffer from ongoing eye and health problems. According to her, he refuses to complain because of the man that he is.
Regardless of political views, all detainees are entitled to proper medical care, humane treatment, and regular access to their families. This is a serious violation of basic human dignity and internationally recognised human rights standards. This situation requires urgent attention, transparency, and accountability.
عوام کے پیسوں پر پلنے والوں نے عوام کے ساتھ ہی دشمنی پال رکھی ہےـ
یہ ویڈیو دیکھیں، کیا یہ حقیقت نہیں ہے؟
ظاہر ہے ان عوام دشمنوں کے خلاف اگر ہم اب نہیں نکلیں گے تو کب نکلیں گے؟
#ReleaseImranKhan
پاکستان نے ٹرمپ کو سکھا دیا کہ طاقت کا استعمال مسائل کا حل نہیں ہوتا۔ اب یہی فارمولا پاکستان کے اندرونی مسائل کے لئے بھی استعمال کریں۔ قومی سلامتی کو کوئی خطرہ اس سے بڑھ کر نہیں ہو سکتا کہ ملک کے عوام کا ریاست پر اعتماد ختم ہو جائے
The Iranian navy, which has been destroyed eight times, has apparently closed the Strait of Hormuz again, because the United States, for the seventh time, won the war that wasn’t a war, so now the United States has to open the Strait of Hormuz that was already open before the not-war began.
The not-war began because Iran had uranium that was totally, completely, beautifully obliterated, so they can’t build the nuclear bomb they weren’t building, which is why the United States had to start the not-war it definitely didn’t start.
Now the United States, which has nuclear weapons, is threatening to use nuclear weapons to stop Iran from getting nuclear weapons, because nuclear weapons are far too dangerous for countries with nuclear weapons to allow other countries to have.
If the United States saw the United States doing what the United States does in other countries, the United States would invade the United States to liberate the United States from the tyranny of the United States.