debating progressive politics in Europe and beyond
The biggest economic debate is between Keynesians (who want more government spending and lower interest rates in order to fuel demand) and supply-side “austerics” (who want lower taxes on the wealthy and on corporations to boost incentives to hire and invest, and who see government deficits crowding out private investment). But both approaches have problems. [...]
There has been a surge of scholarly work on estimating fiscal multipliers and assessing their implications in the wake of the global financial and economic crises of 2007-2009. A large number of countries enacted fiscal stimulus packages in response to the twin crises, but an evaluation of their efficacy remains mired in controversy. Such controversy [...]
Obama’s defiance of the right on the budget is a ray of sunshine amid gathering clouds. The deeper problem remains the fact that the American centre-left has utterly failed to win the public over to its Keynesian explanation of the Great Recession. Progressives in the United States enjoyed a rare feeling of encouragement on April [...]
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