What is to be done? To find an answer, listen to the markets. They are saying: borrow and spend, please. Yet those who profess faith in the magic of the markets are most determined to ignore the cry …
Contrary to conventional wisdom, fiscal policy is not exhausted. This is what Christine Lagarde, new managing director of the International Monetary Fund, argued at the Jackson Hole monetary conference last month. The need is to combine borrowing of cheap funds now with credible curbs on spending in the longer term. The need is no less for surplus countries with the ability to expand demand to do so.
It is becoming ever clearer that the developed world is making Japan’s mistake of premature retrenchment during a balance-sheet depression, but on a more dangerous – far more global – scale. Conventional wisdom is that fiscal retrenchment will lead to resurgent investment and growth. An alternative wisdom is that suffering is good. The former is foolish. The latter is immoral.
I think this photo basically sums up the source of skepticism that many on the Left have of unregulated markets (emphasis on “basic”).
Election 2016: Nobody Knows Anything But That Won't Stop Them From Opining
Hillary Clinton is the Democratic frontrunner for President in 2016....
This is the dumbest interpretation of the Pope’s comments that I have read today. It’s not anti-capitalism and it’s completely consistent with...
Every Party is the Anti-Science Party