A common criticism of Germany in the post-crisis period has been that its economy is unbalanced, with the country’s reluctance to increase public spending or reduce its large current account surplus being cited as problems for other Eurozone economies. Donato Di Carlo argues that this narrative entirely overlooks the extent to which the German economy has already gone through a […]
Dustin Voss of the London School of Economics reviews the European Central Bank’s recent policy reactions to Italy’s government building process. He argues that the glorified imagination of politically neutral central bankers is nothing more than wishful thinking. In fact, it becomes increasingly obvious that the ECB tends to openly embrace punishment by the markets if it is in […]
In this short review, Bob Hancké of the London School of Economics points out that not all foreign direct investment is motivated by reallocating resources to more efficient regions.
Globalisation often also means that beside markets becoming international, investment crosses borders: Coca Cola and GM buy brownfield or build greenfield factories to produce elsewhere. While organised labour rarely rejoices when this happens, especially […]
How the Eurozone will be governed in the future is a matter of much debate and is expected to form a key part of the European Council meeting on 28-29 June. Kevin Featherstone argues that the debate is neglecting a key set of questions: how can its governance be made more democratic and accountable? The answers to these questions will likely […]
The EU steel industry faces major challenges in the shape of rising prices for raw materials, fierce competition from international producers, and global overcapacity. Niccolò Pisani and Emilio Riva explain that the reaction to these problems has often been to advocate increased market concentration. However, the disruptive influence of artificial intelligence and growing anti-globalisation sentiment, epitomised by Donald Trump’s decision to impose a […]
One of the most fundamental aspects of our market society is that consumers should have the ability to vote with their feet and to not buy certain products if they do not wish to. But when are these boycotts effective in causing corporations to change their ways? In new research, Georgy Egorov and Bard Harstad find that boycotts should […]
Steve Coulter of the ETUI and LSE suggests that the four ‘megatrends’ of globalisation, digitalisation, climate change and demographic transition should be analysed together, not separately. That way, common solutions may be found. For example, technology is both a disruptor (of companies and jobs) and solution (to climate change and an ageing population). Managing change cannot be left to the […]
Bob Hancké of the LSE examines the history of a dangerous idea – Ordoliberalism, or the belief that balanced budgets produce growth
At what was probably the most unpropitious moment in recent economic history to make the claim, US President Richard Nixon declared that we ‘are all Keynesians now’. In his view, the key problem of macroeconomic management, namely how […]
Steve Coulter argues that failures in the UK’s training system, coupled with employers’ demand for low-wage labour from Europe, produced the toxic fissures in society that fueled the vote for Brexit. These fissures will not go away after the UK leaves the EU and will have to be addressed someday
The UK’s vote for ‘Brexit’ from the European Union last […]
Steve Coulter of the London School of Economics welcomes publication of a letter by major UK trade unions in favour of remaining in the EU. Otherwise, the Referendum campaign risks being dominated by Conservative politicians slinging mud at each other
What do British trade unions think about Brexit? Up until now, the Referendum campaign in the UK has been dominated […]
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