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(0)Mark Blyth
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Summary
Politicians today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending,...
2) Angrynomics
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Formats
Summary
Economics increasingly fails to explain why the pressures of life appear to be intensifying at the same time as income per capita is rising, or why we work more hours for less money in real terms. And why we see the rise of nationalism everywhere when globalization, on average, has made us all richer. The disconnect between our experience of the world and the economic model used to explain it has given rise to "angrynomics": an economy of heightened...
