December 2010
12 posts
Michael Kumhof and Romain Rancière, "Inequality,... →
An IMF working paper suggesting wage increases for lower income workers as a better way out of financial crisis:
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual...
“Como decía mi maestro Gunnar Myrdal, ser radical quiere decir pensar cinco años...”
– Vicenç Navarro
Johann Hari, "David Cameron's serial deceptions -... →
Domingo Cavallo, "The Euro from Afar" →
In a 1997 presentation, the father of the corralito used the experience of convertibility in Argentina to defend the Euro as a way of constraining monetary policy.
“Therefore the only way to tackle unemployment, which is very high in Argentina, is to introduce flexibility in labor markets. So by setting aside the possibility of using monetary policies to other economic objectives rather...
Lorenzo Bini Smaghi, "Europe cannot default its... →
“[T]he recommendations made by economists are – at best – based on simplistic models that do not allow the complexity of the situation to be grasped and thus lead to mistaken conclusions. In other words, the cure could do more harm than the disease.” Argues a top banker at the ECB calling for radical reform.
Johann Hari, "Your right to protest in under... →
Wikileaks
The UK didn’t extradite Pinochet for crimes against humanity.
Nouriel Roubini, "A Survival Strategy for the... →
Cutting Wages to Restore Competitiveness is Not... →
Another article of mine published in the Social Europe Journal. The social democratic road out of the crisis should involve German workers earning more, not Spanish workers earning less.
Richard Walker, "The Golden State Adrift" →
“Today, California has run aground on the reefs of inequality and racial division, inferior schooling and incapacitated government, while those who profited from the boom times have refused to share their good fortune with new arrivals. Without California’s dynamism, the us will lose its chief motor of growth and continue its long decline. The new working class in California will have to...
Shrinking middle class makes Toronto a city of... →
Stop appeasing the Markets with Austerity →
An article of mine published in the Social Europe Journal
