Yanis Varoufakis: Latest Eurogroup Statement Keeps Greece on the Austerity Rack
The Eurogroup doubles down on Greek debt extend and pretend, to its members political advantage and at great cost to Greek citizens.
Read more...Category Archives: Macroeconomic policy
The Fiscal Policy Experience Since the Great Recession
Why fiscal policy measures after the crisis were too weak.
Read more...Don Quijones: Shock Waves Spread from Spain’s New Banking Crisis
Market consequences of latest banking crisis in Spain, triggered by the collapse of housing prices that caused plunge Banco Popular shares to plunge.
Read more...Wolf Richter: Dear Fed, It’s Not “Really Hard to Spot Bubbles”
Here are some visual aids to help the Fed spot the housing bubble.
Read more...Don Quijones: Catalonia Threatens Spain with “Financial Bloodbath”
Yet another European debt/austerity-induced game of chicken, this one of Catalonia v. Spain.
Read more...Debt Relief or a Fourth Financial Assistance Program for Greece?
Greece continues to be broken on the rack of austerity. How far might the IMF’s insistence on reducing the pain level actually get?
Read more...Government Austerity Demands That We Die Within Our Means
Theresa May’s plans to intensify austerity are costing her votes. About time.
Read more...Toward a Jobs Guarantee at the Center for American Progress (!)
A look at a new Jobs Guarantee proposal from Neera Tanden and Rey Teixeira.
Read more...Jobless Recoveries: Exploring Technology’s Role
Recoveries from recessions in the US used to involve rapid job generation, but job growth has failed to match GDP recovery after recent US recessions. This column examines the role of technology in this and asks whether jobless recoveries are a wider problem outside of the US. In the US, industries that are more prone to technological change experienced slower job growth during recent recoveries, but it appears unlikely that modern technologies are causing jobless recoveries outside of the US. This poses a puzzle as to the nature of recent jobless US recoveries.
Read more...Michael Hudson: Review of Steve Keen’s “Can We Avoid Another Financial Crisis?”
Steve Keen’s book is a compact, layperson friendly evisceration of mainstream economics and efforts to defend banks at the expense of citizens.
Read more...The Fall of the Latin American Left, Part III: Argentina and the Right Winning Elections
How the Kirchner program in Argentina ran into the buzz saw of currency markets.
Read more...Do We Understand the Impact of Artificial Intelligence on Employment?
Artificial intelligence is already transforming the world of work, but the future is hard to predict. Some see most jobs at risk of automatisation, while others argue robots will only take on a narrow range of tasks in the coming decades. Nevertheless, we need a broad debate to prepare the appropriate economic policy response to the new industrial revolution.
Read more...The Operation and Demise of the Bretton Woods System: 1958 to 1971
Even though the Bretton Woods system was short lived, legacies like the dollar standard remain and are likely to be with us for some time.
Read more...The Fall of the Latin American Left, Part I: Brazil’s Boom and Bust
Discussing why the left in Latin America lost power, starting with Brazil.
Read more...The Failure of Austerity in the Great Recession
More evidence that austerity is a bad idea.
Read more...