Tags » Macroeconomics

Understanding the 'Three Balances'

This 14 minute animated video is a nice introduction to the Three Sectoral Financial Balances, which are an important part of macroeconomics, or the study of the economy as a whole. 134 more words


Minsky on stagflation and the limits to state intervention

Government can be a major force for promoting progressive economic and social development. History tells us that this is rarely sustained indefinitely: the political pendulum swings back and forth, and development proceeds unevenly across space and time. 1,015 more words

Political Economy

In brief: the economics of Hyman Minsky

As the 2008 financial crisis broke, the term ‘Minsky moment’ became widely used by commentators and financiers (it was originally coined in 1998), as the work of this relatively obscure economist came into fashion. 289 more words

Political Economy

Investment-savings, global imbalances and crisis: the economics of Michael Pettis

I have been greatly inspired by economist Michael Pettis, who blogs here. His work on the causes of the Great Recession, the eurozone crisis and, especially, Chinese development, seems to me to be both original and revelatory. 1,464 more words

Political Economy

Trade and Protectionism post globalisation

Macro Letter – No 78 – 02-06-2017

Trade and protectionism post globalisation

  • Protectionism is on the increase among developed nations
  • The benefits of free-trade have been most evident in developing countries…
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Saudi GDP II : Productivity & Capital Stock

In my last post I discussed Saudi’s simple GDP dynamics. Yet we did not discuss anything other than oil fluctuations and its relationship with growth rate of GDP and the importance of looking at growth rather than levels of GDP. 767 more words


Keynes on global trade, conflict and full employment

The passage below is taken from the concluding pages of John Maynard Keynes’ famous General Theory, where he speculates on the benefits to international relations from avoiding conflict over international trade.  619 more words

Political Economy