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”.
Austerity
Larry Elliot: Brexit: why the UK economy hasn’t led to buyer’s remorse
Are 51,9 % of Britains neo-fascist berks? Or did those who voted for Brexit have political and economics reasons for doing so? Remainers seem not to be posing this salient question: “Remain’s proponents have spent […]
Economics
Bill Mitchell: Education – a faux crisis, an erroneous ‘solution’ and capital wins again
Beginning with education, this morphs into an article about the Big Four Accountancies, especially Ernst & Young. As always with Mitchell, well worth reading. Read here
Environment
The Telegraph: France becomes first country in Europe to ban all five pesticides killing bees
It is that simple. Read here
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