Tag Archives: Economics

Britain Faces a Lost Decade, Deeper than Japan’s

Thursday’s IMF report has shown conclusively that George Osborne’s Plan A has failed. Austerity is pulling Britain back into recession. The International Monetary Fund (IMF) has long been an advocate of fiscal retrenchment and market-oriented “neoliberal” reforms. Indeed, the IMF is in part behind the current austerity programs currently being imposed upon Greece and Southern Europe, […]

My Hero of the Week: François Hollande

After tense all-night negotiations on Thursday, Europe has taken its first serious step towards solving its financial crisis, with the beginnings of what may become a banking and fiscal Union. Such measures have been widely praised by French newspapers from across the political spectrum, the IMF, and welcomed by Spain, Italy, Ireland and Greece, but are […]

Austerity measures are making it harder to cut the deficit

You might have noticed that the UK economy is unhealthy. For one thing, we’re back in recession. Then, there’s the unemployment level, above 2.6 million. Meanwhile our private consumption and investment are still below their 2007 peak. But not every economy is suffering the same way. As I mentioned in my previous post, Adam Posen […]

Austerity economics is now completely discredited. It’s time for a Keynesian alternative.

Since around 2009 a consensus has been forming as a response to the economic and “deficit crisis” amongst the leaderships of most of Europe and the USA, as well as most of the media.  The Tea Party in the USA, David Cameron’s “compassionate Conservatives” and the establishment parties and media across Europe are all saying […]