Stop Structural Reforms And Start Public Investment In Europe
Slow growth in the Eurozone has become endemic since the start of the sovereign debt crisis in 2010. This is made very clear in Figure
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
Is The Eurozone Turning Into Germany?
It has been pretty clear since at least the spring of this year that the ECB was keen to see the euro weakening. At the
Charting Decline In Europe
Two years have passed since Mario Draghi promised to do “whatever it takes” to save the euro. The bond markets have calmed down but the
The Rebirth Of Stakeholder Capitalism?
In recent weeks, the managers, employees, and customers of a New England chain of supermarkets called “Market Basket” have joined together to oppose the board
Securing The Middle Class In The Internet Age
Ten years ago, the world emerged from the dot-com bust and started to look more soberly at the Internet’s potential. While speculative greed and fear
The Real Raw Material Of Wealth
Poor countries export raw materials such as cocoa, iron ore, and raw diamonds. Rich countries export – often to those same poor countries – more
The Increasing Irrelevance Of Corporate Nationality
“You shouldn’t get to call yourself an American company only when you want a handout from the American taxpayers,” President Obama said Thursday. He was
The Three Policy Changes Europe Needs
The European economy is still in crisis. Real incomes in the Euro area are below the level of 2008 and unemployment is in the double
Inequality is Falling Globally! (And Similar Nonsense)
I bet you think that the rich are getting richer and the poor poorer. A few well-known facts might lead you to this conclusion. For
Europe Must Escape A Savings Trap, Not A Liquidity Trap
The anti-austerity vote in the European elections reflected two different kinds of discontent. One is a feeling of frustration, which is invigorating nationalism: the vote
Rent-Seeking, Living Standards And Inequality
Rent-seeking is the activity of generating and allocating transfers between economic actors. It results in waste and inequality. The rise of rent-seeking, with its epicentre
Why Isn’t Europe More Keynesian?
It is little surprise that Europe continues to struggle to generate the economic and employment growth that would make the debt crisis more manageable. The
Real Business Leaders Want To Save Capitalism
A few weeks ago I was visited in my office by the chairman of one of the country’s biggest high-tech firms who wanted to talk
Why Banking Crises Happen In America But Not In Canada
Tim Geithner’s memoir, published last month, tells us of his life as a firefighter: constantly on call to extinguish a fresh blaze. His baptism of
Creating An Innovation Society
Citizens in the world’s richest countries have come to think of their economies as being based on innovation. But innovation has been part of the
Why Is Capital In The 21st Century (C21C) Such A Success?
About a month ago — this is a true story — after a meeting of Economists Against Austerity, I hailed a taxi in Westminster (the