International Issues

Why internal devaluation fails

Martin Myant of the European Trade Union Institute presents evidence from a new book analysing national responses to the eurozone crisis which shows that the European Commission’s gauge of competitiveness – Unit Labour Costs – was the wrong measure and contributed to disastrous policies which deepened the recession. The solution, he says, is to focus on improving competitiveness by […]

Why should ‘the German pensioner’ care about bailing out Greece?’

Yiannis Korkovelos argues that there are advantages for creditor countries in keeping Greece in the eurozone; while Greece, in turn, should bring forward courageous reforms with Mr Tsipras having the opportunity to be remembered as a moderniser After more than 17 hours of negotiations, white smoke has come out of the EU Summit. The marathon summit has resulted in a […]

Piketty part 2

by Bob Hancké, LSE

The debate is slowly getting on: the FT’s original criticism of Piketty’s data is here. Piketty himself replied to AFP here.

So far there is a little detail on the accusations beside a few transcription errors and a formula wrong here and there (not insignificant, but not that surprising either, given the amount of data), a lot […]

Piketty’s wrong, says the Financial Times

T-TIP: Curb your enthusiasm

By Steve Coulter, LSE What a difference a decade or so makes. When the last round of WTO trade talks was underway in the early 2000s, opinion was split on whether it would supercharge world growth or destroy our entire way of life. By contrast, today’s ongoing discussion between the EU and USA on the Trans-Atlantic Trade and Investment Partnership […]

A ‘Precariat Charter’

Professor Guy Standing of SOAS, University of London, writes that what we have witnessed in recent decades is not simply an increase in inequality, but also the emergence of a new globalised class structure. A key component of this is ‘The Precariat’: a new class comprising those who lack economic security and stable occupational identities, which has systematically been deprived of some of the fundamental […]

25 Years Ago: The End of History?

By Bob Hancké, LSE I just read this very interesting critique in the Guardian Review of Francis Fukyama’s essay ‘The End of History?’, which came out 25 years ago this summer. Ignore the somewhat silly title, clearly designed for maximum impact; there was actually something intriguing about the essay, and Eliane Glaser, the author of the Guardian essay, does a […]