Globalisation’s Last Gasp
Does Donald Trump’s election as United States president mean that globalisation is dead, or are reports of the process’ demise greatly exaggerated? If globalisation is
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
Why Fiscal Money Is Better Than Helicopter Money And QEP At Beating Deflation And Austerity
Here we examine the main differences between Fiscal Money or Tax Discount Bonds (TBDs) which are issued by the state and backed by the future
The Stability And Growth Pact Has Failed
Seven Eurozone member-states have received a warning letter from the European Commission on potential deviations from the prescribed budgetary norm in 2017 and likely need
How Far Should We Push Globalisation?
The discussions about CETA, the trade agreement between Canada and the European Union, have focused almost exclusively on two questions. They are important but certainly
Correcting The Euro’s Flawed Architecture Demands A Focus On Competitiveness Rather Than Productivity
On September 20, the European Council adopted a recommendation calling on the Eurozone member states to establish national productivity boards. This was an unfortunate decision.
Brazil’s Austerity – Steps Towards The Abyss
In 2015, Brazil started to implement a fiscal policy based on austerity, following with some years of delay the path that many European countries, such
The Five Lies Of Rentier Capitalism
We live in the age of rentier capitalism. It is the crisis point of the Global Transformation, during which claims made for capitalism have been
Exchange Rate Folly: How The British Government Lost The Plot
The collapse of Sterling’s foreign exchange rate since the Brexit referendum is on a scale we have not seen in many years and yet the
No Time For Trade Fundamentalism
“One of the crucial challenges” of our era “is to maintain an open and expanding international trade system.” Unfortunately, “the liberal principles” of the world
Nobel Economics Versus Social Democracy
Of the elites who manage modern society, only economists have a Nobel Prize, whose latest recipients, Oliver Hart and Bengt Holmström, have just been announced.
Populism And The Need For A New Social Contract
The Western world is at the gates of a deep and prolonged political convulsion. What connects apparently isolated developments such as Brexit, the rise of
The Italian Non-performing Loans Problem And Europe
The narrative about Eurozone problems is often – and rightly – focused on the Italian banks’ troubles, burdened as they are by €338 billion of
Why Issuing Fiscal Money Could Help Exit The Italian (And Eurozone) Crisis
Fiscal Money is the most suitable instrument – and perhaps the only one – to overcome Italy’s serious and enduring crisis. The Fiscal Money project
Smart Schäuble’s Stupid Selfish Economics
At a conference in Berlin on 29 June, the German Finance Minister, Wolfgang Schäuble, when asked about the situation of Deutsche Bank, said he was
Inequality: What Can Be Done About It?
Tony Atkinson, good morning and thank you very much for joining us today. Good morning. You have been working and researching the topic of inequality
Germany’s Debt Brake Is Not A Model For Europe
My IMK colleagues Christoph Paetz, Katja Rietzler and Achim Truger have just issued an important analysis of experience with the German Schuldenbremse (debt brake) since