The west is exporting austerity to Africa. It’s a disaster

Now that the whole world feels poor and debt relief is out of fashion, some countries are left with big debts at high rates

Austerity is more than just a European response to the 2008 financial crash. It is the common response of indebted countries wherever they may be. And no more so than in Africa.

Trapped in binding agreements for loans they can ill afford with international investors, most African countries have kept their heads down and trimmed their spending.

Namibia pays 10% on its debt: the UK pays 1.8%. The multiplier effect pushes the former into dangerous territory.

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Trump Fed pick was held in contempt for failing to pay ex-wife over $300,000

Records obtained by Guardian show Stephen Moore reprimanded by judge for not paying alimony, child support and other debts

Stephen Moore, the economics commentator chosen by Donald Trump for a seat on the Federal Reserve board, was found in contempt of court after failing to pay his ex-wife hundreds of thousands of dollars in alimony, child support and other debts.

Related: Trump’s Federal Reserve pick owes $75,000 in taxes, US government alleges

Related: Trump’s Federal Reserve pick linked to indicted boyfriend of Russian agent

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MIB: Joshua B. Miller on the Hot Hand

This week, we speak with Joshua B. Miller, an economics professor and behaviorist at the University of Alicante, whose research interests include behavioral economics and decision theory. His paper “Surprised By the Hot Hand Fallacy? A Truth in the Law of Small Numbers,” co-authored with Adam Sanjurjo, recently appeared in the journal Econometrica. Their research…

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10 Weekend Reads

The weekend is here! Pour yourself a mug of Kicking Horse coffee, call shotgun, and get ready for our longer form weekend reads: • He Was Once a Macro God. Now Alan Howard Wants to Be More Than That. (Institutional Investor) • A Magician Explains Why We See What’s Not There: Our brain is constantly…

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