Germany funds much of its export surplus by exporting its own capital instead of investing it in its own nation. Much of this investment capital is either poorly invested or is lost. Thus being “export world champion” results in the own immiseration.
The need to revamp Western capitalism has brought renewed attention to Modern Monetary Theory (MMT), a school of thought that offers an important and bold perspective on economics and policy solutions. Read here
In his blog Chris Dillow is referring to the article by Simon Wren-Lewis “The economic and political cost of UK austerity” Dillow asks the important question: “How did they get away with this?” and gives […]
Nice try, but these articles always fail when they claim the EU has missed a chance to realise a new vision for its future. There is only one vision for the EU and neo-liberalism with […]