debating progressive politics in Europe and beyond
Europe is in recession. Britain’s Office for National Statistics confirmed that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage make a recession). On Monday Spain officially fell into recession, for the second time in three [...]
The annual spring meetings of the International Monetary Fund and the World Bank have provided a window onto two fundamental trends driving global politics and the world economy. Geopolitics is moving decisively away from a world dominated by Europe and the United States to one with many regional powers but no global leader. And a [...]
One of the most pernicious falsehoods you’ll hear during the next seven months of political campaigning is there’s a necessary tradeoff between fairness and economic growth. By this view, if we raise taxes on the wealthy the economy can’t grow as fast. Wrong. Taxes were far higher on top incomes in the three decades after [...]
The economy added only 120,000 jobs in March – down from the rate of more than 200,000 in each of the preceding three months. The rate of unemployment dropped from 8.3 to 8.2 percent mainly because fewer people were searching for jobs – and that rate depends on how many people are actively looking. It’s [...]
Dean Baker writes a stimulating blog that I recommend consuming regularly. Even seemingly innocuous posts can sometimes lead one to unexpected places. The starting point is Dean gently chiding the New York Times for calling Germany a ‘graveyard for retailers’ because its growth was based on exports and domestic demand was weak. Dean points out [...]
Today’s fragile global economy faces many risks: the risk of another flare-up of the eurozone crisis; the risk of a worse-than-expected slowdown in China; and the risk that economic recovery in the United States will fizzle (yet again). But no risk is more serious than that posed by a further spike in oil prices. The [...]
Here’s the good news. The economic pie is growing again. Growth in the 4th quarter last year hit 3 percent on an annualized rate. That’s respectable – although still way too slow to get us back on track given how far we plunged. Here’s the bad news. The share of that growth going to American workers [...]
As evidence mounts that income inequality is increasing in many parts of the world, the problem has received growing attention from academics and policymakers. In the United States, for example, the income share of the top 1% of the population has more than doubled since the late 1970’s, from about 8% of annual GDP to [...]
Europe’s debt crisis has piqued Europeans’ interest in American precedents for federal finance. For many, Alexander Hamilton has become a contemporary hero. Perhaps one day his face should appear on the €10 banknote. Specifically, for European states groaning under unbearable debt burdens, Hamilton’s negotiation in 1790 of the new federal government’s assumption of the states’ [...]
The tension of the interregnum is nearly unbearable. A United States of Europe is slowly evolving, like a new planet condensing from the clouds and dust of the cosmos. Yet its final form will take years to consolidate. Once a critical number of member states have ratified stricter fiscal and budget rules — becoming more [...]
Suddenly, manufacturing is back – at least on the election trail. But don’t be fooled. The real issue isn’t how to get manufacturing back. It’s how to get good jobs and good wages back. They aren’t at all the same thing. Republicans have become born-again champions of American manufacturing. This may have something to do [...]
The issue of climate change is unlikely to play much of a role in the US Presidential election campaign, which will begin in June with the nomination of a Republican candidate to face Barack Obama. It may however, have already decided the outcome, by ensuring that any possible Republican nominee is unelectable. The Republican position [...]
SocialEurope Journal: SEJ Article: A Breakthrough Opportunity for Global Health http://t.co/VYXi6Wag SocialEurope Journal: SEJ Article: When Neo-Liberals drop their Mask http://t.co/saAJbUZH SocialEurope Journal: SEJ Article: At least nine EU countries in recession: stimulus urgently needed http://t.co/oNN0v98l SocialEurope Journal: SEJ Article: European Monetary Union: Doomed to fail or just another Stepping Stone? http://t.co/pMuqDvkA SocialEurope Journal: SEJ Article: Creating Jobs in recession-hit Communities in Europe: Why Microcredit will not help http://t.co/zJb4XxJl SocialEurope Journal: SEJ Article: German State Elections send Merkel an Economic Message http://t.co/yVG4Xr5n SocialEurope Journal: SEJ Article: Two dangerous Myths about a 'Grexit' http://t.co/vOhdnVIp SocialEurope Journal: SEJ Article: Finding a Way out of the Crisis – Growth and Employment in Europe http://t.co/Q8JhRRSg 
All Content
Follow US on Social Media