Robert Kowalski from Stanford sent me a link to a very intellectually stimulating article by Stefan Theil in Foreign Policy. This article shows that young generation in Europe is educated to love socialist ideas, to hate capitalism and hard work and to claim their share of the welfare state. This is a dead end. Europe needs a new vision as shown in my papers here and here. And needs this new vision now.
Piotr Chwiejczak, who runs his own economic blog from Vienna/Warsaw sent me a link to a new paper by Lobell et al. showing that without proper policy responses large part of Asia and Africa will face famine amid climate changes. Stanford website version of the paper is here. Nice summary of the article is here.
Many people ponder what could be the next big thing after a collapse of US housing markets and related credit derivatives markets. What market will grow from scratch to trillion dollars/euro/renminbi market capitalization. The answer might be climate derivatives.