Universal Basic Income: a disarmingly simple idea—and fad
Universal basic income is a disarmingly simple idea based on a disarmingly simple premise. The digital revolution threatens massive technological unemployment; ergo, every citizen should
Economy
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Simple Arithmetic Shows Why Basic Income Schemes Cannot Work
Swiss voters decided in a referendum on June 5 whether to introduce a “basic income”. In proposed reforms to the social welfare system, all residents would be
The ECB’s Illusory Independence
A commitment to the independence of central banks is a vital part of the creed that “serious” policymakers are expected to uphold (privatization, labor-market “flexibility,”
Helicopter Money: A Disguise For debt Financing Funded By Short-Term Borrowing
The term “helicopter money” is derived from a vivid image created by the US economist Milton Friedman in which a central banker showers notes on
Economic Recovery Of The EU Is Not Beholden To The ECB
Europe is in a Gordian knot of debt, deflation and democratic deficits. A hegemonic Germany that Adenauer, Brandt, Schmidt and Kohl wished to avoid dominates
The IMF On Greek Debt – Redefining Chutzpah?
A definition of chutzpah is murdering your parents and then claiming social benefits as an orphan. It is not widely recognised, but the IMF illustrates
The False Promise Of Negative Interest Rates
As a biographer and aficionado of John Maynard Keynes, I am sometimes asked: “What would Keynes think about negative interest rates?” It’s a good question,
Fighting The Next Global Financial Crisis
What do people mean when they criticize generals for “fighting the last war”? It’s not that generals ever think they will face the same weapon
The Economic Consequences Of Brexit
Those campaigning for Britain to exit the European Union claim that doing so would make their country both freer and richer. They assert that after
The ECB Grants Debt Relief To All Eurozone Nations Except Greece
It looks like Greece may get some debt relief. There is as yet no certainty about this because some German politicians continue to conduct rear-guard battles
The Case For Germany Leaving The Euro #Gexit
The case for or against a British exit from the EU – #Brexit – is headline news. For the moment the earlier quarrel about a
Helicopter Money: An Old Novelty
Times have surely changed: as little as three years ago, Quantitative Easing was considered a remote hypothesis, EU inflation was well over 2% and only
Monopoly’s New Era
For 200 years, there have been two schools of thought about what determines the distribution of income – and how the economy functions. One, emanating
Greek Reforms Endorsed And Debt Relief Talks Launched
The outcome of the most recent Eurogroup meeting was a positive step towards the conclusion of the first review of the Greek program. The large-scale
EU Austerity And The Brain Drain From The South
The debate on the sustainability of the European single currency seems to have focused exclusively on the requirement that EU member states comply with the
Eurozone’s So-Called Recovery Masks A Dark Secret: Mercantilism
Broad opposition in Europe to the Trans-Atlantic Trade and Investment Partnership has prompted its supporters to summon the “protectionist” spectre. In response to the criticism
The Third Way: Share-The-Gains Capitalism
Marissa Mayer tells us a lot about why Americans are so angry, and why anti-establishment fury has become the biggest single force in American politics