Was Keynes a revolutionary in economic thought and policy? Was he at least radical in his ideas? Or was he a reactionary opposed to the interests of working people and a conservative in economic theory?
Often cited, seldom read. Branko Milanovic finally reads the whole of Adam Smith’s The Wealth of Nations and reflects upon its meaning. Read here
The big motor is fiscal policy and because of the flawed design in the Eurozone it is dysfunctional in the extreme. Central bank policy shifts can do little to counter the damage that fiscal austerity […]
You should note that the claim in Der Speigel “Germans would lose all the rescue money they have given to Italy” isutterly false. Italy was not part of any “rescue package”. Der Spiegel is the […]