Suddenly they are all complaining. With an enormous delay, even the professional optimists in the German media have realised that something is fundamentally wrong. Germany is once again the sick man of Europe, the British Economist notes again, pointing to the decline in GDP this year. I am surprised, however, that liberal economists, who would call themselves neoclassical, do not participate much more actively in the debate and at least contribute important aspects to a theory of the crisis. But the neoclassical authors are always immediately on the wrong track because they do not want to admit the macroeconomic implications of their own theory and consequently blame the governments for the malaise. After all, markets cannot be wrong in principle and, if they are allowed to work, always lead quickly back to equilibrium.
Austerity
Bill Mitchell: Euro area inflation is not accelerating out of control
“When I say that I think the inflationary pressures are transitory, one shouldn’t conclude that means they are short-lived.” Read here
Economics
Heiner Flassbeck: Germany is in recession – and that is extremely dangerous!
In the past, there were already recessions in the economy. These were phases of shrinking gross domestic product (GDP) that lasted two, three quarters or a whole year. Rising unemployment and shrinking incomes were practically […]
EU politics
Middle East Eye: Muslim countries condemn Quran burning in Sweden
Morocco recalls ambassador to Stockholm, while Saudi Arabia, Egypt, Iraq, and several other governments denounce the provocative act Read HERE
Be the first to comment