The German current account surplus of probably 7 per cent of GDP in the current year is an unparalleled scandal. However, it becomes a real political catastrophe when Germany accuses countries that have fairly balanced balances, such as China, or even high current account deficits, such as the USA, of mercantilism when they defend themselves against the actual mercantilists.
Finance
Scott Baum: The Gig Economy – a shameful failure of the neoliberal project
“The sharing economy amplifies the worst excesses of the dominant economic model: it is neoliberalism on steroids” Read here
Economics
Bill Mitchell: Be careful using first release data – Britain now surges ahead of Europe!
Overall I still cannot see a major macroeconomic impact coming from Britain’s exit from the European Union. The Remainers are now hanging on to the inflation differentials between Britain and Europe as evidence. Read HERE
National Politics
Chris Dillow: The same old mistakes
Error one is that you must base policy not upon what you hope will happen, nor even upon what you expect to happen, but upon the range of possible outcomes. Error two is the pawn […]
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