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- Austerity backers in Europe in retreat ? Barroso calls for re-orientation to growth.
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Category Archives: treasury view
Sequester underway in U.S. Cracks appear in British austerity wall.
We will soon be a full week into the foolish sequester experience in the U.S. So far it is way too soon to assess the damage to the growth rate and the slowdown in employment that cutting the first 100 … Continue reading
Italian electorate rejects austerity by overwhelming margin
The Italian electorate has overwhelmingly rejected the austerity which its technocratic government led by Mario Monti with the backing of Germany had imposed on the country. Mr. Monti’s party according to La Repubblicca received a mere 10.5 % of the … Continue reading
Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, Italian debt crisis, J.M.Keynes, monetary policy, treasury view, Uncategorized, unemployment
Tagged democracy and austerity, Italy rejecting austerity, Mario monti
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American Recovery Act and stimulus program has a multiplier of more than 2: hence it was a very effective program
There have been a lot of false claims made about the ineffectiveness of the American Recovery act and the stimulus that it administered. But if one actually examines the data and calculates the rise in the GDP over the years … Continue reading
Europe still mired in austerity, slow growth and possible recession and excessive unemployment
The situation in Europe continues to be worrisome and exasperating. The stubborn ideologically driven opposition to stimulating the economy through major infrastructure and employment creating investments and a supportive low interest monetary policy including where appropriate quantitative easing is long … Continue reading
Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, France politics+economy, full employment, J.M.Keynes, Keynesian multiplier, labour market clearing, monetary policy, quantitative easing, Spain, treasury view, U.K. economy, Uncategorized, unemployment
Tagged austerity is wrong policy, employment creating investment, supportive low interest monetary policy
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Keynes’s Fundamental Equations From The Treatise on Money
The symbols used in A Treatise on Money are somewhat different from the General Theory and for those who are familiar with GT but not the Treatise are a little confusing at first. See both Keynes’s A Treatise on Money vol.1 ch.10 … Continue reading
Hoarding, speculation and the problem of unemployment
The classical school of economics always argued that wages would adjust to clear gluts of unemployed workers over a reasonably short period of time and that cash would not be hoarded but used to purchase bonds or otherwise spent on … Continue reading
Mark Carney chosen to head the Bank of England: Bold Decision Big Challenges Ahead
The Decision of the British government to appoint the Canadian central banker Mark Carney as the new Governor of the Bank of England , the crown jewel of central banks, is a bold decision by Chancellor George Osborne and PM … Continue reading
The fall economic conversation: Hayek versus Keynes, Romney versus Obama, whither the global business cycle ?
Now that relative calm has returned to Québec after the provincial election we can focus our attention on the broader economic issues that beset the global economy. The American election although currently focused on foreign policy appears set to return … Continue reading
Spanish austerity misguided policy
The government of Spain despite its horrible 24 % plus unemployment rate continues to implement further austerity policies . This guarantees a deeper and profound recession that damages the life chances of a quarter or more of the Spanish population. … Continue reading
The Greek election, the euro and the necessity to escape austerity
We are on the eve of the second election in Greece and many establishment voices in a co-ordinated campaign are raising the prospect of total disaster should the Greek electorate choose the left wing coalition Syriza which while committed to … Continue reading
