Paul Krugman has termed the new policy shift of UK’s Chancellor of the Exchequer, George Osborne, as the crony Keynesianism. UK government is trying to build a euro crisis shield and is trying to find an alternative way to ease the pressure on it to do something constructive.
But Chancellor George Osborne in particular remains [...]
Professor Ken Rogoff, Professor of Economics at Harvard University, writes in Project Syndicate that both Keynesians and Austerians have got it wrong.
One extreme is the simplistic Keynesian remedy that assumes that government deficits don’t matter when the economy is in deep recession; indeed, the bigger the better. At the opposite extreme are the debt-ceiling [...]
Before the last election, George Osborne, the Chancellor of the Exchequer, had trumpeted the endorsement of Richard Branson. But now Branson is calling for a rethink of his policies:
In an outspoken intervention, the founder and chairman of the Virgin Group called for a renewed focus from ministers on bringing unemployment down and promoting the [...]
Greece is stuck between a rock and a hard place. Next month it will go to poll – again – to determine who will govern it. The choices are not easy and it is quite likely that the result may be another hung parliament just like the one after the last election on May 6th.
Robin Wells, economist and Paul Krugman co-author, writes:
“[...] the heart of the problem lies in the political culture of Germany and the mindset of its political and economic elites, which have never been willing to admit to their own voters the sacrifices that must be undertaken in order to be the leader of Europe. [...]
IMF head is asking indebted countries to reduce deficit slowly.
“Christine Lagarde said in a speech in Zurich that steep cuts tend to slow an economy, particularly if a nation is already suffering from weak growth.”
French President-in-waiting, Francois Hollande, is going to put France on a new course.
“Europe is watching us, austerity can [...]