debating progressive politics in Europe and beyond
Despite years of official talk about addressing global current-account imbalances, they remained one of the world’s main economic concerns in 2011. Global imbalances were, to be sure, smaller overall than before the crisis, but they did not disappear. Now some are increasing again, alongside inequality in many countries. That link is no accident. One often [...]
We live in a world where, in theory, global economic and political governance is in the hands of the G-20. In practice, however, there is no global leadership and severe disarray and disagreement among G-20 members about monetary and fiscal policy, exchange rates and global imbalances, climate change, trade, financial stability, the international monetary system, [...]
Watch Gerald Holtham discuss the underlying imbalances which caused the economic crisis and the need for the state to invest in marketised services. [vsw id="9Br_wyulYlQ" source="youtube" width="425" height="344" autoplay="no"]
Although the global economic crisis was triggered by the foregoing financial crisis, the more deeply rooted cause appears to have been the global imbalances, created by uneven developments in qualitative, knowledge-based competitiveness and the weakening thereof (primarily due to the marketifying of education in some developed countries). And, secondly, by the uneven development of cost [...]
It seems odd to Europeans that the US celebrates Labor Day on the first Monday in September, and thus today, rather than on May 1st, as in virtually every other country, given that the latter commemorates the Haymarket massacre in Chicago. (In fact that is precisely the reason.) But American exceptionalism is perhaps nowhere stronger [...]
The ongoing financial crisis points unmistakably to the glaring weaknesses of the present economic system. An event that seemed relatively manageable in economic terms – the real estate bubble in the United States – has brought the globalised economy to the brink of a new depression, reawakening memories of the world economic crisis of 1929. [...]
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