In all major economies, the so-called productivity puzzle continues to perplex economists and policymakers: output per hour is significantly lower than it would have been had the pre-2008 growth trend … Read More
Columns & Interviews
How To Get Rid Of Germany’s Excessive Current Account Surplus
There’s no end to the criticism of the excessive German current account surplus. Quite rightly, people suggest that this imbalance has the potential either to unleash violent currency fluctuations on … Read More
The Answer Is Wages, Not Capital
As in any other religion, faith lies behind capitalism. Faith that capital is a panacea always and in any situation: to push economic growth or to help less developed countries to catch up. Yet the … Read More
Democracy Must Prevail, Always
Diversity is desirable in human affairs, as in nature. Most countries strive toward economic and political diversification. Economic diversification is a way of escaping dependence on a narrow … Read More
Britain’s Surprising Election: Austerity And Inequality Make For Angry And Unpredictable Voters
After the Brexit vote in June 2016 was followed by the unexpected victory of Donald Trump in November, an emerging theme amongst the commentariat was that the combination of economic stagnation, … Read More
The Case For An Investment State
The case for an Investment State rests with three propositions: The first is the diminishing credibility of the Welfare State. Flourishing mid-20th century, it has struggled politically as a result of … Read More
Immigration And Economic Growth: Is Keynes Back?
There is something very strange going on in the current debate on refugee immigration. There is a lot of alarmist talk about youth gang criminality, problems related to labor market integration, … Read More
Ten Thoughts On The Treaty Democratizing The Euro Area (T-DEM)
1. The diagnosis made by the authors of the T-DEM is clear and sound. The divorce between the European Union and its citizens originates in the seizure, in the full sense of the term, of … Read More
Blogs
Europe’s Shrinking Middle Class
The Great Recession depressed real income levels across European countries. But the impact was very unequal across countries and income groups. Countries in the European periphery have been more … Read More
Brexit Talks Should Be Postponed
The UK government has agreed with its EU partners to start Brexit negotiations today (June 19), with an all-day timetable starting at 0900 GMT and ending at around 1700; David Davis, Brexit secretary, … Read More
Why Has The US Resisted Trump But The UK Acquiesced To Brexit?
This post is a response to a provocative piece by Anatole Kaletsky. He writes: While the US has taken only 100 days to see through Trump’s “alternative reality” (though perhaps not through Trump … Read More
What History Tells Us About Trump’s Budget Fantasy
At the risk of beating a dead horse, here are some thoughts on the Trump administration’s 3 percent growth forecast. Zero interest rates seemed inconceivable 15 years ago, and yet they happened. … Read More
Poverty And The UK General Election
In a modern election it is increasingly easy to get caught up in the drama of the campaigns and ignore the actual issues that lie beneath. There is often a lack of thoughtful expert analysis on the … Read More
Has The OECD Joined The Campaign For Higher Wages?
Weak wages produce a weak recovery Trade unions tend to see wages not as a factor of competitiveness but as an engine that drives demand, growth and jobs. The Economic Outlook published this week by … Read More
Talks & Events
Inequality In Europe: What Can Be Done? (Social Europe Talk V)
In the fifth episode of Social Europe Talk from the European Parliament in Brussels the panelists discuss inequality in Europe and what can be done about it. Social Europe editor-in-chief Henning … Read More
The Equality Effect: Improving Life For Everyone
In more equal countries, human beings are generally happier and healthier, there is less crime, more creativity and higher educational attainment. In this talk to launch his latest book, Danny Dorling … Read More
Automation, Job Loss, And The Welfare State
With the capabilities of artificial intelligence quickly expanding and middle class jobs under threat of being automated, will the government need to step in to pick up the slack of a job market … Read More
Rise And Fall Of The American Middle Class
William Lazonick, professor at University of Massachusetts Lowell, explains how rationalization, marketization, and globalization characterize the U.S. economy during the past 50 years, and how the … Read More
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