US – Initial Claims
12/07/2019 10:21 am MYT
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The seasonally adjusted initial claims for the week ending 6 Jul 2019 were 209,000, down 13,000 from the previous week. The 4-week moving average fell 3,250 from the previous week to 219,250 – see figure 1. Continuing jobless claims for the week ending 29 Jun 2019 registered a seasonally adjusted 1.723 mln, up 27,000 from the previous week, while the 4-week moving average increased by 5,750 to 1.695 mln. The underlying trend remained consistent with a tight labour market.

Note from Publisher
i Capital will not be published for the issue dated 17 – 23 Oct, 2019. However, during this period, will be updated as usual. Our office’s operating hours will not be affected. Volume 31, number 9 of i Capital will hence be dated 24 – 30 Oct, 2019.

After World War II, Western style democracy has been touted as the political system that every country should adopt. Countries that do not practice democracy are labelled as human rights abusers and dictatorial states. Their leaders are described as tyrants and corruptors. However, the success of China and the many problems that have emerged in the Western democracies have cast serious doubts on the supposed superiority of democracy. For democracy to work, it is assumed that citizens are able to make informed and rationale choices all the time. Not only is this assumption not realistic; also, the fact that more people support an idea does not make the idea the right one or the best.

In addition, human beings are easily influenced by emotional rhetoric and people tend to have herding behaviour. Politicians making remarks that promote hatred and exclusivity are dangerous because these remarks can turn into extreme actions that will totally destroy a country. For those who want to read more about the weakness of democracy, “Against Democracy” by professor Jason Brennan and “The China Model: Political Meritocracy and the Limits of Democracy” by professor Daniel Bell are strongly recommended.
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