Tag archive for ‘monetarism’
Running a permanent Fiscal Deficit?
Recently, The Independent ran a tabloid-style headline warning that the true UK net debt-GDP ratio was not 60% but a colossal 285%, a figure that includes new ONS estimates of future state pension and off-balance PFI obligations. Why is this misleading? Because if we count a stream of future obligations in the stock of current [...]
The Social Democracy of Fear
We need to be bolder in attacking the ideology of the right. In a brilliant piece entitled ‘What is Living and What is Dead in Social Democracy?’, published in the New York Review of Books this month, the British historian Tony Judt of New York University argues that the main shortcoming of the democratic left [...]
