The years of austerity will be seen as wasted years, when no new progress was achieved and plenty that had been achieved in the past setback.
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Macroeconomists are far from perfect, but the UK evidence suggests that you ignore their advice at your peril.
Labour leadership candidate Jeremy Corbyn has shown some flexibility on his idea of People’s QE.
A lot of the commentary on Greece fails to see why the Greek No vote changes anything.
Can thinking about 'policy intermediaries' help explain the continuing popularity amongst policy makers of austerity during a liquidity trap?
Today’s supposedly radical idea can quite quickly become received wisdom.
With Greece under Syriza about to enter negotiations with the Troika, there has been much discussion of what might happen, and what should happen. This post is in the ‘should’ category.
In my view, the answer is in the 1970/80s with the New Classical revolution.
The economy where real wages and labour productivity stay low may also be an economy where innovation slows down. The low productivity economy becomes the low productivity growth economy.
If students want to change the world, I think they are much more likely to do this by working within mainstream economics than heterodox thought.
The collapse in UK productivity since the recession is extraordinary.
It's possible that a society of educated people is likely to be more cultured and scientific-minded than one of non-graduates, and this should have positive externalities in the form of better political discourse and higher culture. There is, however, little evidence of this in practice.
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