When I first heard about public private partnerships (PPPs), most of the emphasis was on PPPs being privately financed with private money at stake. But now, I hear the news about needing to bail out PPP projects with taxpayer money and I wonder: Is this a good idea?
If you’ve ever been to London, then you’ve almost certainly seen the emblematic red circle and blue stripe with the word UNDERGROUND emblazoned on it. The Underground is a huge operation, made up of some 270 stations and 400km of track. So how does London keep this operation running?
Peter Schiff, the now well-known author of Crash Proof, visited the IFC earlier this week to talk about the future of the dollar as the reserve currency. Schiff has gotten famous by correctly predicting the financial crisis well before we found ourselves in our present predicament.
The ongoing financial crisis has (apparently) discredited whole schools of mainstream economics. But what will take its place? Various strands of new and previously fringe schools of thought are vying for the spotlight. Will it be the Marxists? Doubtful.
So says the Public-Private Infrastructure Advisory Facility, which just released a note based on new data on private infrastructure projects in developing countries:
From Aug to Nov 2008, 31 PPI [public private infrastructure] projects reached financial closure involving investment commitments...for US$17.2 billion in 21 developing countries...Such [a] level of investment in new projects represents a decline of about 40% compared with the level in the same period in 2007.
Avid users of instant messaging, beware! Your habit is about to become very expensive. Well, at least if you live in Russia. Apparently, the Russian patent agency has awarded a patent on the ";-)" emoticon to a Russian businessman. (I wonder if they will charge me for this blog post?) Eternal Remont reports:
Russian businessman Oleg Teterin now claims he owns the tradmark to an emoticon:
I've just run across a spate of items on the development of ICT in Africa; although it could just be coincidence, I suspect there's been a growing interest in this topic in the development community.