New evidence shows that when the financial sector grows more quickly, productivity tends to grow disproportionately slower in industries with either lower asset tangibility or in industries with higher research and development intensity. It turns out that financial booms are not, in general, growth-enhancing.
Read more...Greek journalist Michael Nevradakis and US investigative journalist Greg Palast have a different take on the Greek ‘No’ vote against Europe’s cruel austerity demands.
Read more...If the ECB does not give Greek banks more funds under the ELA today, the Greek economy is going to start to suffer lasting damage.
Read more...Why the Greek government and Greek citizens recognize that a Grexit is a terrible idea for them.
Read more...A detailed explainer on how card systems work and what the impact of a drachma re-introduction would be for them.
Read more...Describes the many ways that the Trade in Services Agreement would make it virtually impossible to implement and strengthen financial regulations.
Read more...It’s hard to find an official who is comporting himself very well in the wake of the Tsipras surprise announcement of a referendum on July 5 for a then-defunct bailout offer.
Read more...The ECB has decided to lower the boom on Greece.
Read more...At 1:00 AM in Athens on Saturday morning, Greek prime minister Alex Tsipras announced that Greece would hold a referendum on July 5 on whether to accept the terms provided by the creditors in order for Greece to obtain €7.2 billion in “bailout” funds as the final part of a loan package provided to Greece in 2012.
The bailout in fact expires on June 30. It is too late for Greek voters to have any say on the Greek government’s posture in the negotiations. So what was this ploy meant to achieve?
Read more...Alexander Hamilton, often held up by liberals as the most admirable Founding Father, was not the man you probably thought he was.
Read more...Why America’s elites have failed.
Read more...Being a tax haven isn’t all it is cracked up to be.
Read more...Greece’s creditors made a remarkably harsh proposal after the ruling coalition crossed some of its red lines. Is this a plot to break the government?
Read more...Why structural reforms will not ward off deflation in Europe.
Read more...Why the rise of collateral-based lending has been bad for our economic health.
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