Europe’s Largest Companies Now Lend More Than They Invest
Mariana Mazzucato Throughout the developed world, you hear the same anxious story. From Brussels to Washington, political and business leaders warn that our economies have grown uncompetitive because wages are too high, and regulation too burdensome. Make labor cheaper and deregulate, we are told, and private investment will abound. This diagnosis may sound like common […]
Report: Labour Squeezed, Investment Stalled
Mariana Mazzucato, Samuel Fleischman, Anna-Hope Emerson, and Lara Merling For decades, European economic policy has located the constraint on competitiveness and productivity in the cost of labour, prescribing wage moderation, labour-market flexibility and deregulation as the cure. But what if Europe’s binding constraint is not the cost of labour but the direction of capital? Drawing […]
Σύσταση διεθνών αποθεματικών
Adam Tooze: The metamorphoses of the dollar
The general question I find myself preoccupied with right now is how we think – or fail to think – radical economic change. In other words, how we struggle to understand economic history in the full sense. This is what my forthcoming book on climate-energy is going to be about. Another case in point is […]