EDITORS' PICKS

In this week's essential reading guide, Kohler crowns a new king of media, Gottliebsen chats with Australian business doyen Don Argus, Bartholomeusz shows why the 'Taylor rule' is not the answer and Maley revisits the yuan revaluation saga.

Publish and be damned
Alan Kohler
Media owners are discovering the uncomfortable fact that content isn't king – distribution is. And it's Apple that is changing the rules of the game, not Rupert Murdoch.

China's balancing act
Alan Kohler
China's property bubble and looming consumer price inflation are causing much concern around the world. While the property problem might heal itself, China's monetary response to inflation is a real risk to Australia.

THE ARGUS INTERVIEW: Future issues
Don Argus tells Robert Gottliebsen there are three big challenges facing Australia that concern him – higher interest rates, anti-business sentiment and poor banking strategy.

Behind Greenspan's asset bubble
Stephen Bartholomeusz
Alan Greenspan’s defence of the Greenspan Fed overnight included a dismissal of the 'Taylor rule' as an effective guide for central bankers. But Asian markets today show why this is a mistake.

A rise in optimism
Stephen Bartholomeusz
Despite the protestations of mortgage-holders, the Reserve Bank's decision to raise rates is a sign that the Australian economy is in good shape – for now.

Slow float from China
Karen Maley
If China decides to let the yuan move closer to market-determined exchange rates, it is far more likely to reflect concerns over commodity prices than a desire to placate the US.

Greece is just the beginning
Karen Maley
As Greece lurches ever deeper into crisis, a major investment manager has warned of a 'simultaneous and large disruption to the balance sheet of many industrial countries'.

The 'postmodern economy' was a con
Oliver Marc Hartwich
The UK's 'creative economy' looked great while a thriving finance industry propped it up. Now the money's gone, Britain is realising the value of the industries it has lost.

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