Monthly Archives: April 2013
Namely, unnecessary austerity. Contractionary policy is contractionary. Who knew?
A version of this post was published in the Zintro Blog for 6-May-2013.Most of the commentary on Bitcoin centres on its in-built scarcity, which is meant to ensure its value rather like the inelastic supply of gold was meant to … Continue reading
The transmission of the Great Depression provides the following lessons for the present. It is best to avoid macroeconomic shocks. But when they hit, then the second-best alternative is to suspend or discard the fixed exchange rates that linked economies … Continue reading
Stephen King (HSBC) in the FT:In Japan’s case, previous experiments with QE – admittedly not on the same grand scale – mainly served to boost exports without any significant impact on domestic demand. In a world where other nations are … Continue reading
Reading this update on Greece’s fascist Golden Dawn party. Be clear that a group like this, in power, is not consistent with being in the euro-area: they would not want to be in, and they would not be welcomed to … Continue reading
Does globalization undermine workers’ income in the developed economies? Put slightly differently: Does globalization Gatsby-ize the developed economies, insofar as the rewards from productivity growth are reaped by owners of capital rather than labour?The logic of this proposition seems pretty … Continue reading