A Global Marshall Plan for Joblessness?
Time for a Marshall Plan for unemployment: no workfare, no bullshit jobs, no compulsory work, no digging holes. Start with a Green New Deal.
Read more...Category Archives: Macroeconomic policy
Don Quijones: Wrath of Draghi Hits Germans Who Refuse to Blow Their Savings
Draghi plans to beat savers until morale improves.
Read more...Michael Hudson: The Wall Street Economy is Draining the Real Economy
How Wall Street is interjecting itself into the economy so that more and more is diverted to pay interest, insurance and rent.
Read more...Has the Time Come to Consider Criminalising Tax Avoidance?
A rare call for getting tougher with a widely practiced white collar crime, tax avoidance.
Read more...Martin Wolf Defends Central Banks’ Negative Interest Rate Policies
The Financial Times’ lead economics writer, Martin Wolf, makes an intellectually bogus case for negative interest policies.
Read more...Ireland: a Recovery Built on Sand
How official statistics exaggerate Ireland’s performance, largely due to its status as a tax haven/offshore financial center.
Read more...A New Stability and Growth Pact? Let’s Drop the Technocratic Veil!
On how economic growth models constrain policy debates and choices among Eurocrats, and why that is no accident.
Read more...What “Hope” (and Change) Look Like in the Labor Market, According to the New York Times
Why aren’t all segments of the labor market equally crapified?
Read more...The Consequences of Brexit for UK Trade and Living Standards
The economic consequences of leaving the EU are at the heart of the Brexit debate. This column studies how changes in trade and fiscal transfers to the EU following Brexit would affect living standards in the UK. Across a range of scenarios, Brexit leads to lower income per capita, but the magnitude of the loss depends on what trade policies the UK adopts post-Brexit. To minimise the economic costs of Brexit, the UK would have to remain closely integrated into the Single Market.
Read more...Leaked Memo Reveals IMF (Still) Wants Out of Greece Bailout and Plots to Pressure Germany to Act
A new leak shows the IMF as the least bad actor of the Troika, which given its record as a neoliberal fist in third world countries, speaks volumes about European politics.
Read more...Bill Black: Democrats Need to Give Up Being Deficit Hawks Even When it Feels Good Politically
Why do Democrats act like Republican wannabes with deficit scaremongering? Let us count the reasons: Wall Street, Pete Peterson, hatred of the poor…
Read more...Misunderstanding the Great Recession
How many of the textbook explanations of the Great Depression were proven wrong, yet despite that, were misapplied to the Great Recession.
Read more...Michael Hudson on Debt Deflation, the Rentier Economy, and the Coming Financial Cold War
Michael Hudson speaks with Justin Ritchie on his favorite topics, such as debt deflation, austerity, classical economists on rentiers, and the coming financial cold war.
Read more...Mirabile Dictu: Lead Story at Bloomberg Gives a Thumbs Up to MMT
Bloomberg gives a fairminded and reasonably detailed report on MMT.
Read more...Silvia Merler: ECB TLTRO 2.0 – Lending at Negative Rates
On Thursday, the ECB surprised observers by announcing a new series of four targeted longer-term refinancing operations (TLTRO II) to be started in June 2016. The incentive structure of the programme has changed: on one hand, this TLTRO II could be the first case of lending at negative rates; on the other hand, the link with lending to the real economy might have been weakened.
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