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”.
Economics
Bill Mitchell – The Bandwagon effect – caution not credit is needed
Everyone, apparently is an MMTer now. But from what they say we know that is not the case. And just as this cohort swing to save face in what is a glaringly obvious empirical rejection […]
Economics
CBS – San Francisco Federal Judge Slams Proposed Bayer Roundup Class Action Settlement
Bayer thought they could get out of this lawsuit comfortably as they would have in the EU. Germany is not the hegemon in the USA Read here
Energy
Gizmodo: China Considers Ban on Cryptocurrency Mining Because It’s a Stupid Waste of Energy
No one talks about the environmental impact of e-technology, e-finance, and e-commerce. Also see our article here concerning music streaming. Read here
Be the first to comment