08 February 2012

Keynesianism

Fiscal Policy: What does ‘Keynesian’ mean? (Jonathan Portes at the Social Europe Journal): On why the politicisation of the term hinders our ability to address the crisis.

EU responses to the crisis: From inadequate explanations to inefficient policy solutions?


The debt crisis saga continues, further demonstrating the inability of the European Union and its leaders to come to grip with solutions that could put an end to the devastating consequences it is having on the European Economy and by implication on workers’ welfare. In the second quarter of 2011, overall unemployment stood at 10.3% for the Eurozone while it reached a staggering 21.7% for 15-24 years old [1]. This country average hides important cross national disparities with Greece’s overall unemployment rate being at 18.8%, Ireland 14.6%, Portugal 12.8% and Spain 22.5% in September 2011 [2].

05 February 2012

Do we need the manufacturing sector?

Christina Romer argues that we don't. This is because the three arguments in favour of manufacturing - market failures, the need for jobs and more income distribution - may not be supported by the evidence, at least as far as the US is concerned.