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Minimum Wage or Living Income?

Skideslky, Robert, 92015), “Minimum Wage or Living Income?”, Project Syndicate, 16 Ιουλίου Most rich countries now have millions of “working poor” – people whose jobs do not pay enough to keep them above the poverty line, and whose wages therefore have to be subsidized by the state. These subsidies take the form of tax credits.The idea is a very old one. England implemented its “Speenhamland” system – a form of …Read More

Lessons for Greece: Forcible currency conversions from 1982 to 2015

Reinhart, Carmen, (2015), “Lessons for Greece: Forcible currency conversions from 1982 to 2015”, Voxeu, 9 Ιουλίου Contrary to the intent of the designers of what was to be an irreversible currency union, Greece may well exit the Eurozone. This column argues that default does not inevitably trigger the introduction of a new currency (or the re-activation of an old one). However, if ‘de-euroisation’ is the end game, then a forcible …Read More

Euro-area governance: what to reform and how to do it

Wolff  Guntram , Sapir  André, (2015), “Euro-area governance: what to reform and how to do it”, Bruegel Policy Brief , 27 Απριλίου. The Issue Reform of the governance of the euro area is being held back by disagreement on what is at the root of the euro area’s woes. Pre-crisis, the euro area suffered from the built-up of financial imbalances, price and wage divergence and an insufficient focus on debt …Read More

‘Neoliberal’ variants have dominated Europe’s history but they have paved the way for a new conception of human progress

Glendinning, S. (2015) ‘Neoliberal’ variants have dominated Europe’s history but they have paved the way for a new conception of human progress, LSE EUROPP, 16 Μαρτίου.   The term ‘neoliberalism’ is frequently used in contemporary political discussions, but while polemically effective, conceptually it lacks rigour. Simon Glendinning writes on the relationship between the concept and classical liberalism. He argues that by defining neoliberalism in terms of this relationship it becomes …Read More

Greece, Its International Creditors and the Euro

Sabri Öncü, T. (2015) “Greece, Its International Creditors and the Euro“, Naked Capitalism Blog, 17 Φεβρουαρίου.   Yves here. This is an excellent background piece on how Greece got where it is and how its various bailouts were structured. It also helps explain the past and current roles the various members of the Troika play and discusses the prospects for Greece achieving its aims. By T ([email protected]), a financial economist …Read More

The Lunch Question – A Brief History of Inequality

Morris, I. (2015) “The Lunch Question – A Brief History of Inequality“, Global Affaris, STRATFOR Global Intelligence, 11 Φεβρουαρίου.   At an event in Beijing last November, I had the good fortune to meet the French economist Thomas Piketty, who has sold 1.5 million copies of his book, Capital in the Twenty-First Century, since it was first published in 2013. Pacing up and down in front of a packed auditorium, …Read More

Germany Emerges

Friedman, G. (2015) “Germany Emerges“, Geopolitical Weekly, STRATFOR Global Intelligence, 10 Φεβρουαρίου.   German Chancellor Angela Merkel, accompanied by French President Francois Hollande, met with Russian President Vladimir Putin on Feb. 6. Then she met with U.S. President Barack Obama on Feb. 9. The primary subject was Ukraine, but the first issue discussed at the news conference following the meeting with Obama was Greece. Greece and Ukraine are not linked …Read More

Portugal must rebalance its economy and improve education to continue its economic recovery

Franco, F. (2015) “Portugal must rebalance its economy and improve education to continue its economic recovery“, LSE EUROPP, 12 Φεβρουαρίου.   Portugal was one of the worst hit countries by the Eurozone crisis, but emerged from its bailout programme in 2014. As part of our ‘economies of Europe’ series, Francesco Franco provides an account of the development of the Portuguese economy since the crisis, including some of the key challenges …Read More

Σταθερότητα και ευημερία στη Νομισματική Ένωση

Ντράγκι, Μάριο (2015) “Σταθερότητα και ευημερία στη Νομισματική Ένωση“, Αθηναϊκή Επιθεώρηση Βιβλίου, Τεύχος 58, 05 Ιανουαρίου.   1. Συχνά θεωρούμε λανθασμένα ότι η Ευρωπαϊκή Ένωση –και η ζώνη του ευρώ– είναι οικονομικές ενώσεις που δεν στηρίζονται σε πολιτική ένωση. Αυτό αντανακλά μια βαθιά παρανόηση για το τι σημαίνει οικονομική ένωση: είναι από τη φύση της πολιτική. Η Ενιαία Αγορά είναι η ίδια ένα πολιτικό κατασκεύασμα που δεν θα μπορούσε να …Read More

The sham of central bank independence

Mitchell, B. (2014) “The sham of central bank independence“, Bill Mitchell Blog: Modern Monetary Theory – Macroeconomic Reality, 23 Δεκεμβρίου.   Let it be noted that the Japanese government 10-year bond yield hit 0.33 per cent overnight. That tells you that all the scaremongering that has been going on over the last twenty years about hyperinflation, the Japanese government running out of money, the bond markets dumping the yen, and …Read More