After Adam Smith: A Century of Transformation in Politics and Political Economy
Milgate, Murray & Stimson, Shannon S. 2009. After Adam Smith: A Century of Transformation in Politics and Political Economy. Princeton and Oxford: Princeton University Press, σελ. x + 298 + index. Η σχέση οικονομίας και πολιτικής είναι, δίχως άλλο, στο επίκεντρο του σύγχρονου βίου και των παθών του και, ασφαλώς, αφορά στην ουσία της αντιπαράθεσης […]
It’s the politics, stupid!
Pisani-Ferry, Jean. Four years after first cracks in the financial system emerged, the coincidence of the euro-area and the US debt crises is a powerful reminder of the complexity of the chain of events set in motion by the global financial crisis. Citizens who were told in 2009 that resolute joint action by the members […]
Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2009
Ponticelli, Jacopo & Voth, Hans-Joachim. In the wake of this week’s London riots, some commentators have linked the youth unrest to budget cuts. The authors of CEPR DP8513 explore the historical basis for this view and finds that austerity and violence have tended to go hand in hand. Πηγή: CEPR πλήρες κείμενο
Europe’s Last Taboos
Pisani-Ferry, Jean. You can always trust the Americans, Winston Churchill said, because in the end they will do the right thing, after they have exhausted all other possibilities. For the last 18 months, this has been Europe’s method for confronting its sovereign debt crisis as well: it has taken the necessary decisions, but always as […]
Jens Bastian: Is ‘Greece Inc.’ ready for privatization? Lessons learned from the German Treuhandanstalt
As the political authorities and corporate representatives in Athens embark on the most ambitious privatization programme ever undertaken in Greece, many across Europe are watching with interest and concern if the endeavour can succeed. Apart from the adoption of the privatization legislation and the publication of a roadmap for state divestment, a new privatization agency […]
Social progress in the 21st Century
Major new publication on how Europe’s centre-left parties can return as forces of social and economic progress A decade into the new century, Europe is beset by a striking mood of social pessimism. The post-war baby boomer generation harbours real fears about the future, as it looks like life will not be as good for […]
The Ideological Crisis of Western Capitalism
Stiglitz, Joseph. Just a few years ago, a powerful ideology – the belief in free and unfettered markets – brought the world to the brink of ruin. Even in its hey-day, from the early 1980’s until 2007, American-style deregulated capitalism brought greater material well-being only to the very richest in the richest country of the […]
Is the welfare state growing or declining?
Ben-Shalom, Yonatan, Moffitt, Robert & Scholz, John Karl. What is happening to the US welfare state? According to this column, and contrary to the views of many, the US welfare state has not been going through a significant retrenchment over the last two decades but has in fact been growing. However, it adds that there […]
It isn’t just the euro. Europe’s democracy itself is at stake
Sen, Amartya. Europe has led the world in the practice of democracy. It is therefore worrying that the dangers to democratic governance today, coming through the back door of financial priority, are not receiving the attention they should. There are profound issues to be faced about how Europe’s democratic governance could be undermined by the […]
Political institutions and the curse of natural resources
Cabrales, Antonio & Esther, Hauk. The natural-resource curse is now a staple in the development economist’s diet. Natural resources have tended to lead to lower economic growth, except in democratic countries or those with robust institutions. This column presents a political economy model to explain this phenomenon, focusing on the threat of revolutions. There is nothing […]