Larry Elliot is the economics editor of the Guardian, but don’t let that put you off. Unlike the Labour frontbench, there are some parts of the British centre-left still capable of original thought on the economy. It is, for instance, refreshing to see someone look beyond the frustratingly restricted debate between ‘Keynesian’ supporters of stimulus […]
Good news! Share values are reaching new records – not only in Britain, but in America too! But, here, courtesy of David Stockman in the New York Times, is some not so good news: “Since the S.&P. 500 first reached its current level, in March 2000, the mad money printers at the Federal Reserve have […]
It’s been a long time since rival economic theories were of such political importance as they are now. Before 2008, the main political parties in both Britain and America were more or less united around a neo-liberal consensus – only really disagreeing on how exactly to share the proceeds of growth. However, since 2008, growth […]
Earlier this month, Ambrose Evans-Pritchard, international business editor of the Daily Telegraph, marked a sombre anniversary – the first five years of the ongoing global economic crisis: "Some date the crisis to August 9 2007, the day it became clear that Europe’s banks were up to their necks in US housing debt. The ECB flooded […]
David Henderson, of the Hoover Institution has a history lesson for us. It concerns the Second World War and its aftermath, so appropriately he begins by lining up a target in his sights: "We often hear that big cuts in government spending over a short period of time are a bad idea. The argument against […]
Robert Reich served with distinction in the Ford, Carter and Clinton administrations. Writing for the Huffington Post, he sets out his prescription for the economic ills of the present day. First of all, the diagnosis: "The world's productivity revolution is outpacing the political will of rich societies to fairly distribute its benefits. The result is […]
In an interview with the Browser, Niall Ferguson describes the borrow-and-spend policies of the left as “vulgar Keynesianism” – because “Keynes would be rather appalled at the way his name is used these days to justify policies that are reckless.” Ferguson would, no doubt, approve of the conclusions – and historical sweep – of Raghuram […]
The 60th anniversary of this composite figure provides an opportunity to lay him to rest.