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.
Finance
Larry Elliot: Is the Bank of England losing its way?
From The Guardian Central bank infallibility was always something of a myth. Much of the decline in inflation in the 1990s and early 2000s was due to globalisation rather than the brilliance of central bankers. […]
Economics
Jag Bhalla: Taming The Greedocracy
American elites want magical technological fixes to climate change because they refuse to confront the truth that seriously addressing the problem would require limits to their own power and luxury. Read Here
Corruption
euobserver: How industry watered-down new EU supply chain rules
The rules say the EU Commission’s regulatory board is not supposed to discuss individual files in meetings with lobbyists, but the evidence in our report reveals a major loophole: they can be — and are […]
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