The origin of the well known Murphy’s Laws may be traced to Edwards Air Force Base in 1949. A few of the most popular of these laws: If anything can go wrong, it will If there is a possibility of several things going wrong, the one that will cause the most damage will be the…
The irrational covid-19-induced destruction of our economy has exacerbated the north-south divisions in Europe and sparked debates on issues such as austerity, recovery funds, financial stability and, of course, national debts. But when speaking of national debts, economists consistently ignore, or forget, the issue of implicit debt and focus exclusively on explicit debt. We propose…
April 28, 2020 Fitch cuts the rating of Italy from ‘BBB’ (April 21, 2017) to ‘BBB-‘ with stable outlook. The downgrade, the agency points out, “reflects the significant impact of the Covid-19 pandemic on the Italian economy”. According to Fitch, in 2020, Italy’s GDP should record a drop 8% with a debt / GDP ratio…
The covid-19 has accentuated the fragmentation of the European Union. In a moment of political fragility we have performed a resilience rating analysis of the union as a whole as well as of the individual countries and specific macro regions. The idea is to perform a preliminary and simple assessment of how each country could…
20-th April, 2020 At the time of writing, the number of deaths that have been attributed (yes, attributed or related to) to the covid 19 virus in Italy is 23660. The ISS – National Health Institute – states that more than 99% of the deceased had already some, often serious, chronic disease. This means that…
Easter Island (Chilean territory), is a remote volcanic island in Polynesia. Its native name is Rapa Nui. It’s famed for archaeological sites, including nearly 900 monumental statues called moai, created by inhabitants during the 13th–16th centuries. The moai are carved human figures with oversize heads, often resting on massive stone pedestals called ahus. Ahu Tongariki…
In the era of globalized and interconnected economy, it is becoming clear that all corporations, banks and countries form part of a huge system of systems. As turbulence increases and the possibility of shocks and extreme events rises, the importance of a systems perspective of the economy becomes evident. In fact, due to turbulence, and…
