The war in Ukraine and its repercussions, compounded by structural problems such as an ageing population and a lack of investment, spell the end of the boom
Economics
Bill Mitchell: European Central Bank research provides a withering critique of mainstream macroeconomics
Although Bill Mitchell warns that “this blog post considers some very technical material” he does an excellent job of explaining what it all means. Read here
Austerity
Simon Wren-Lewis: How the lessons from austerity have not been learned
The UK and the Eurozone are both vulnerable to the next recession, but both politicians and central bankers think each other should deal with it. Read here
Economics
Business Insider: The ‘supply-and-demand model of labor markets is fundamentally broken,’ and that’s why you’re not getting a pay raise anytime soon
Part-time “underemployment” has, statistically replaced the mass unemployment we remember from the 1980s. As Johnson says: “A majority of people who are classified as poor now live in a household where someone is in work. […]
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