debating progressive politics in Europe and beyond
How rising income inequality contributed to Germany’s macroeconomic imbalances. ‘New growth agenda’ or ‘structural reforms’? This seems to be the new dividing line in the economic policy debate in Europe, opposing, in particular, the German Chancellor Angela Merkel and the new President of France, Francois Hollande. Although everybody agrees that Europe will need economic growth [...]
On the Rajan hypothesis and toxic theories of consumption The notion that inequality is causally related to the Great Recession of 2008 is currently one of the hottest topics in macroeconomics (see http://www.social-europe.eu/2012/04/the-impact-of-inequality-and-macroeconomics/). Before the crisis, most economists were hardly interested in the links between the distribution of income and financial stability. Although the higher [...]
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