“But the real point of me isn’t that I’m good looking. It’s that I’m clever. I’ve got a brain! I would rather be called a highly intelligent historian than a gorgeous pouting one” – Harvard historian Niall Ferguson, Sept. 2011.
One of the predictable habits of the mainstream media is to seek out opinions on . . . → Read More: The Progressive Economics Forum: Just How Stupid is Niall Ferguson? Very Stupid.
The IMF find that rising inequality is a key driving force behind balance of payments problems and domestic instability in developed countries.
“what unites the experiences of the main deficit countries is a steep increase in income inequality over recent decades, as measured by the share of income going to the richest 5 percent of . . . → Read More: The Progressive Economics Forum: Unequal = Indebted
I was in Cannes last week with CLC President Ken Georgetti for the G20 Labour Summit. (I know, tough job.) This event was arranged by the International Trade Union Confederation with the support of the French Presidency of the G20. Our group as a whole, consisting of labour leaders from the G20 countries and leaders […] . . . → Read More: The Progressive Economics Forum: Souvenirs de Cannes
Business-school professor and economist Nouriel Roubini earned his nickname Dr. Doom by repeatedly predicting the chain of events that would cause the global economic house of cards to fall down. Yesterday he laid out the economic dilemmas that are triggering a global Occupy movement and concludes: “Any economic model that does not properly address inequality […] . . . → Read More: The Progressive Economics Forum: Roubini on the Instability of Inequality
Thanks to Arthur Donner’s Economic Comment for bringing this to my attention. The official line we hear everyday is that the Canadian fundamentals are great, while other countries are in deep trouble because they are spending beyond their means and borrowing too much from the rest of the world. Yet IMF projections show that Canada’s […] . . . → Read More: The Progressive Economics Forum: The Fundamentals Are Pretty Shaky
The IMF World Economic Outlook notes that the desired process of rebalancing global demand from countries with large trade deficits (notably the US) to countries with large trade surpluses (notably China) is not going very well. Relatedly, it points out just how difficult it is for increased demand in developing economies to offset stagnant or […] . . . → Read More: The Progressive Economics Forum: Global Imbalances