In the Financial Times, Martin Wolf noted a few days ago that imbalances in international trade are back on the political agenda. Although Wolf reaches entirely reasonable conclusions regarding mercantilism, he nevertheless states that it is nonsense to claim that the US trade deficits can be eliminated solely through trade or exchange rate policy. He believes that this would “also require macroeconomic adjustments, in particular a reduction in the US public budget deficit, which the IMF forecasts at 7.5 per cent of GDP for 2026”.
Economics
Paul De Grauwe and Yuemei Ji: Financial engineering will not stabilise an unstable euro area
If you can get through it, there are some interesting points made. Read here
EU politics
Spiked: The dangers of anti-populism
An interesting take on what is the opposite of “populism”. Read here
Climate Crisis
Matthew James Seidel: How Right-Wingers Hijacked Green Politics in Norway
Review of The Paradox of Svalbard: Climate Change and Globalisation in the Arctic by Zdenka Sokolíčková (Pluto Press, 2023). In ‘Jacobin’. Read the article HERE.
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