Αντιγράφω επιστολή αναγνώστη με τίτλο “Global economy is out of kilter for a simple reason”, που δημοσιεύθηκε στην Φαϊνάνσιαλ Τάιμς της 18 Οκτωβρίου 2024. Το επιχείρημα είναι εύστοχο, μολονότι αυτό δεν είναι ο μόνος λόγος – ούτε και κάθε μέτρο τόνωσης της εγχώριας συναθροιστικής ζήτησης έχει ισχυρό πολλαπλασιαστικό αποτέλεσμα ή είναι άμοιρο διαρροών.
“Two articles — “China’s ills are serious but not incurable” (Opinion, October 16) and “Global public debt to exceed $100tn this year, says IMF” (Report, October 16) — indicate a global economic system severely out of balance. Neither high savings rates in the east nor exploding governmental borrowing (and cheap money) in the west are able to generate continued economic growth at levels that were achieved in the recent past.
The problem in both cases is inadequate domestic aggregate demand. Curiously the root cause is the same — an excessive concentration of wealth.
Whether it is investing primarily in export-oriented manufacturing or altering tax policy in favour of ‘the wealth creators’, the result is the same: domestic aggregate demand has been reduced.
Only by a reversal of policy will things change. Whether this is done deliberately or as the result of a ‘panic’ will determine how dramatic the societal dislocations will be.”
Armin Steinbach Jeromin Zettelmeyer On 21 March 2025, Germany amended its constitutional debt brake, which had limited its structural (cyclically adjusted) federal budget deficit to 0.35
Zhengyang Jiang In the past decade, China has become the largest creditor to developing countries, surpassing the IMF, World Bank, and Paris Club countries. This
Ντοκιμαντέρ, 2024, Γαλλία και Βέλγιο, έγχρωμο, 150’ Σκηνοθεσία: Γιόχαν Γκριμονπρέζ Η τζαζ στον Ψυχρό Πόλεμο, οι διαμάχες για την αποικιοκρατία στον Οργανισμό Ηνωμένων Εθνών, του
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poleconomix.gr
Αντιγράφω επιστολή αναγνώστη με τίτλο “Global economy is out of kilter for a simple reason”, που δημοσιεύθηκε στην Φαϊνάνσιαλ Τάιμς της 18 Οκτωβρίου 2024. Το επιχείρημα είναι εύστοχο, μολονότι αυτό δεν είναι ο μόνος λόγος – ούτε και κάθε μέτρο τόνωσης της εγχώριας συναθροιστικής ζήτησης έχει ισχυρό πολλαπλασιαστικό αποτέλεσμα ή είναι άμοιρο διαρροών.
“Two articles — “China’s ills are serious but not incurable” (Opinion, October 16) and “Global public debt to exceed $100tn this year, says IMF” (Report, October 16) — indicate a global economic system severely out of balance. Neither high savings rates in the east nor exploding governmental borrowing (and cheap money) in the west are able to generate continued economic growth at levels that were achieved in the recent past.
The problem in both cases is inadequate domestic aggregate demand. Curiously the root cause is the same — an excessive concentration of wealth.
Whether it is investing primarily in export-oriented manufacturing or altering tax policy in favour of ‘the wealth creators’, the result is the same: domestic aggregate demand has been reduced.
Only by a reversal of policy will things change. Whether this is done deliberately or as the result of a ‘panic’ will determine how dramatic the societal dislocations will be.”
Guy Wroble
Denver, CO, US
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Ντοκιμαντέρ, 2024, Γαλλία και Βέλγιο, έγχρωμο, 150’ Σκηνοθεσία: Γιόχαν Γκριμονπρέζ Η τζαζ στον Ψυχρό Πόλεμο, οι διαμάχες για την αποικιοκρατία στον Οργανισμό Ηνωμένων Εθνών, του