debating progressive politics in Europe and beyond
Treasury Secretary Tim Geithner, speaking at the World Economic Forum in Davos a few days ago, said the “critical risks” facing the American economy this year were a worsening of Europe’s chronic sovereign debt crisis and a rise in tensions with Iran that could stoke global oil prices. What about jobs and wages here at [...]
What the US Treasury Secretary said to the Europeans and how they shunned him at our collective peril. Back in the era of unquestioned US hegemony, many Europeans (and I include myself) dreamed of the moment when our leaders would find it in their hearts publically to repudiate the heavy handed advice of a high ranking [...]
To paraphrase Denmark’s Prince Hamlet, ‘To enact austerity or not to enact austerity, that is the question.’ Unfortunately, dear Hamlet, that is a question without a sure answer. The truth is, none of the experts know what is the correct thing to do. Trichet, Bernanke, Geithner, Schäuble, Krugman, Stiglitz, Wolf, Münchau, Soros, all of them [...]
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