Who says that trickle down does not work?. For almost two years progressive economist have been hammering away that although governments have debts, they also have assets. Translated, you may have a mortgage of 100,000 euros (Heavens above, you are in debt!), but a house worth 500,000 euros (actually not so bad). While in many instances, public debt cannot be compared to private debt, in this one instance you can. If the British government purchases the railways, it may have debt, but it also has the railways. It took a while, but Aditya Chakrabortty has always been the intellectual avant garde among journalists. Other journalists will follow – and this fact will eventually reach voters. Hopefully before the general elections.
Economics
Bill Mitchell: Inflation is not necessarily due to excessive spending
What a lot of people do not fully grasp. Inflation can be driven by administrative decisions and can be curtailed or restrained by varying those decisions. Read here Hyperinflation in the Weimar Republic
Austerity
Bill Mitchell: The assault on democracy in Italy
With Bill Mitchell’s blog we continue our series of analyses concerning the recent events in Italy. Read here
Geopolitics
Euromaidan: What the fall of Pokrovsk could mean for Ukraine
This is the take on the current military situation in the Donbas Oblast from Euromaidan, a Ukrainian website: Ukraine’s incursion into Kursk Oblast fails to thwart Russia’s advancement towards Pokrovsk. The loss of this key […]
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