The Bogey of Fiscal Stimulus
Sundaram, Jomo Kwame. After the economic disaster of 2008-2009, people are understandably wary of the devastation that yet another financial crisis can wreak. But the likelihood of another crisis is quite small, and its adverse impact would be far less devastating this time around, as there are no more massive credit or asset bubbles to […]
Ο Δημήτρης Σωτηρόπουλος συζητά με το Poleconomix
Poleconomix: Πού κατά τη γνώμη σας οφείλεται η αποτυχία του εκσυγχρονισμού της δημόσιας διοίκησης στην Ελλάδα; Δημήτρης Σωτηρόπουλος: Καταρχάς, πρέπει να διακρίνουμε μεταξύ θεσμικού εκσυγχρονισμού και διαχειριστικού/διοικητικού εκσυγχρονισμού, μια διάκριση την οποία οφείλουμε στην Καλλιόπη Σπανού. Ο θεσμικός εκσυγχρονισμός της διοίκησης αφορά στη δημιουργία νέων θεσμών, π.χ., θεσμών με τους οποίους αυξάνεται η διαφάνεια και […]
The Bankers’ Capital War
Davies, Howard. Almost everyone nowadays agrees that banks need more capital. Christine Lagarde chose to make it her first campaign as Managing Director of the International Monetary Fund. And conventional analyses of the financial crisis focus on the weak capital base of many banks, which left them with insufficient reserves to absorb the losses they […]
There are better ways forward for the EU
Cabral, Ricardo. The EU is presently a source of great instability that leaders have yet to tackle. This column argues the current policy response is misguided. The adjustment programmes are bound to fail to achieve sustainable budget deficits, and may result in an unprecedented destruction of economic activity. Rather, the EU policy response should explicitly […]