The Mismeasure Of Technology
There is nothing better than fuzzy language to wreak havoc – or facilitate consensus. Ludwig Wittgenstein argued that philosophical puzzles are really just a consequence
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
Some Reflections On Thomas Piketty’s ‘Capital’
Thomas Piketty’s Capital in the Twenty-First Century is a six hundred and eighty-five page tome that definitively characterizes the empirical pattern of income and wealth
Losing Interest
Two of the world’s most prominent economic institutions, the International Monetary Fund and Former US Treasury Secretary Larry Summers, recently warned that the global economy
Ten Steps To Revive The European Economy
Economistas Frente a la Crisis (Economists Confronting The Crisis) is a group of Spanish economists founded in 2011, who refuse to remain indifferent to the
On The Alleged Pains Of The Strong Euro
Since its most recent low of $1.20, reached in the heat of the summer of 2012, the euro has appreciated by 15 percent against the
The Wolves Of Wall Street
“What a commentary on the state of twentieth-century capitalism,” mused “motivational speaker” Jordan Belfort as he looked back on his life of fraud, sex, and
Chancellors, Fools And The UK Recovery
I grew up in Texas where state and local judges are elected, not unusual in the United States. In most states minimum legal qualifications are
Inflation, Deflation And ECB Asymmetry
It is quite interesting to see how popular myths can live on in the public’s mind and continue to cause harm and irritation even when
On German Public Opinion And Illusional ECB Power
After taking a short breather in late January-early February, the markets now seem to be back in ‘happy mode’. Whether the news on the economic
Inequality, Productivity, and WhatsApp
If you ever wonder what’s fueling America’s staggering inequality, ponder Facebook’s acquisition of the mobile messaging company WhatsApp. According to news reports yesterday, Facebook has
The Fed, The Dollar And The Damage Done
The US Federal Reserve is being widely blamed for the recent eruption of volatility in emerging markets. But is the Fed just a convenient whipping
Economic Stagnation By Design
Soon after the global financial crisis erupted in 2008, I warned that unless the right policies were adopted, Japanese-style malaise – slow growth and near-stagnant
Why We Need Basket Eurobonds
The Euro area is suffering from insufficient macroeconomic stabilisation At the end of 2009 the unemployment rates of the Euro area and the United States
A Brain’s View Of Economics
In his pathbreaking 2005 book On Intelligence, Jeff Hawkins proposed an alternative paradigm of how the human brain works. In his view, the brain is
Free Trade And Costly Love
The World Trade Organization’s ministerial conference in Bali in December produced a modest package of encouragements to global trade. More broadly, the WTO’s multilateral approach
The Inequality Nightmare
Inequality Nightmare – “The poor cannot sleep, because they are hungry,” the Nigerian economist Sam Aluko famously said in 1999, “and the rich cannot sleep,