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
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
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
The Global Growth Funk
The International Monetary Fund and others have recently revised downward their forecasts for global growth – yet again. Little wonder: The world economy has few
Imagining a New Bretton Woods
The financial meltdown of 2008 prompted calls for a global financial system that curtails trade imbalances, moderates speculative capital flows, and prevents systemic contagion. That,
Germany’s Costly Fiscal Fetish
The European Central Bank is under heavy attack in Germany, a country that has long prided itself on defending the principle of central-bank independence. Indeed,
The Central Problem With Banks Is “Too Complex To Fail” Not “Too Big To Fail”
Poor Bernie Sanders. How can you expect to become US president if you are not familiar with the relative spheres of competence of the Federal
A Progressive Logic Of Trade
The global trade regime has never been very popular in the United States. Neither the World Trade Organization nor the multitudes of regional trade deals
The Brexit Alarm
I have no special expertise on the question of whether Britain should leave (or “Brexit”) the European Union. True, I did live in the United
What’s Wrong With Negative Interest Rates?
I wrote at the beginning of January that economic conditions this year were set to be as weak as in 2015, which was the worst
Basic Income And Social Democracy
The basic income approach is absolutely essential, but it is not part of the social democratic tradition. Think about it. The post-war consensus was all
Conclusion Of Greek Bailout Review To Be Coupled With Investments
In January 2015 Syriza came to power with the aim of tackling austerity, bringing back social justice and growth, building on a challenging but necessary
Bringing The IMF Into The Eurozone Crisis Was Political Bankruptcy
It was wrong from the start. Going on the incorrect assumption that the Eurozone crisis could only be overcome with the help of the crisis-proven