For many years, the European Union’s recommendations regarding economic policy have emphasized the need to lead rigorous economic policies. This is, partly, seen in the European Semester and in the country-specific recommendations in general, as well as in the economic requirements imposed on the southern European countries that have been struck very hard by the [...]
Sven Giegold (MEP for the German Greens) has an interesting comment piece in Handelsblatt: while focusing on Portugal, it is illustrative of much that is wrong with economic policymaking in Europe. He reports that 17 of the 20 largest Portuguese listed companies organise at least part of their activities in the form of holding companies [...]
German economic policy doesn’t exactly have a glowing reputation on the European Centre-Left. Deservedly so. Obsession with micromanaging inflation. Stupid fiscal rules. A belief that everything will be fine as long as everyone runs export surpluses. All these are often portrayed,with some justification, as products with Made in Germany stamped on them. Particularly in recent [...]
When I grew up in Texas, a common saying was “free advice is worth what it costs you”. The recent eBook, Towards a European Growth Strategy, represents a clear exception to that rule, and offers a welcome opportunity to open fruitful debate on economic policy in Europe. Consistent with the intent of that study, and [...]
For the crisis to end, Europe has to change. As it stands, we have a Europe bogged down by economics and losing its political identity, where growth and employment are stifled by tight budgets. But the single currency can be salvaged. To do so, regulations and economic policies must be reformed and countries (and economies) [...]
Now it has happened. The first major industrialised country has had enough of stagnation and is trying an alternative economic policy. Japan’s new government, run by Shinzo Abe, has announced a significant public spending programme and put political pressure on the central bank, the Bank of Japan, to do its part to change course by [...]
Watch Richard Koo of the Nomura Research Institute, Japan, discuss the crisis of economics against the backdrop of the ongoing economic plight. This talk was recorded at the ‘The State of Economics after the Crisis’ conference organised by the Research Network for Macroeconomics and Macroeconomic Policies and the Macroeconomic Institute of the Hans Boeckler Foundation.
Today, millions of workers across the whole of Europe will engage in an action day against austerity and in favour of jobs and solidarity. There will be general national strikes in Spain, Portugal, Greece and Italy, with sector and company level strikes in other member states. Workers will also be marching on the streets in [...]
Professor Larry Summers of Harvard University discusses economic policy on both sides of the Atlantic and attacks the intellectual foundation of austerity. This keynote speech was recorded at the Policy Network conference ‘The Quest for Growth’ held at the London Stock Exchange on 6th September 2012.
‘Listen to me now!’ You have to hand it to Bill Clinton, whatever his faults, in many way he IS a political genius. Not quite water into wine, but his speech to the Democratic Convention makes the pretty thin Obama-beer into something that looks and tastes like a good strong pint. For a lesson in [...]
By now it should become apparent to even the most hard-line austerity supporter that the policy is simply not working. It is not just failing in economic terms but has severe knock-on effects too. The political and social fall-out of this failed economic strategy makes the resolution of the Eurozone crisis, which at its heart [...]