Here is what I am reading: The work of John Maynard Keynes shows us that counter-cyclical fiscal policy and an easing of austerity may offer a way out of the Eurozone crisis (The London School of Economics) China’s Slowdown May Be Worse Than Official Data Suggest (Federal Reserve Bank of Dallas) Gold Bulls Strongest in…
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 absolutists…
Minneapolis Federal Reserve Bank President Narayana Kocherlakota is an inflation hawk, who thinks that the US economy is close to maximum employment. Kocherlakota said that, for him, the inflation rate is key to determining how close the Fed is to the maximum achievable level of employment or the minimum achievable level of unemployment. And the signals are…
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