We are living in times of austerity: Economies all over the world are experiencing slower growth, and half of the eurozone economies are expected to shrink this year. In fact, not one major European country is expected to grow over 1 percent. Yet, the luxury market has managed to thrive despite all odds and it is showing no sign of slowing down. How can that be?
At the epicenter of the debt crisis, austerity is in vogue. From London to New York, governments are slashing budgets and raising unpopular taxes in the wake of runaway debt.
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Non-Executive Chairman of Morgan Stanley Asia. Lecturer at Yale University's School of Management and Jackson Institute for Global Affairs. Author of "The Next Asia".
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.
Vice President and Director of the Global Economy and Development Program at the Brookings Institution. Former Turkish Minister of State for Economic Affairs. Head of the United Nations Development Program (UNDP) from 2005-2009.
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