Looking beyond the current woes of unemployment, or the need to work toward a more productive economy, one that can support higher wages and offset the growing burden of pensions and concurrent increase of health and education spending, with the future approaching faster than one might hope, the future of employment remains a big question […]
A Window for Europe?
The story teaches us that the rules governing the single European currency are not based on economic considerations …
On Principles and Taboos
Major financial crises have always left huge amounts of debt in their wake, followed by incidents of nonpayment. Occasionally the reduction of debt has been concealed, as in the case of Germany, which, thanks to an annual inflation that averaged 17% from 1913 to 1950, reduced the value of its domestic debt to almost zero. […]
Inequality from the Inside Out
We cannot rely on a market economy driven purely by individual interest to remedy an unjust situation …
Financial Crisis: Can “It” Happen Again?
“Can ‘It’ Happen Again?” Such was the title of a well-known paper written by economist Hyman Minsky in 1982. “It” referred to financial crises. His answer at the time was in the affirmative. And so it remains today. The crisis that started in August 2007 has affected economies in different ways and in different degrees. […]