After years of frugality, German consumers are finally spending again, at a rate not seen since the dotcom boom of the 1990s. According to the FT, private consumption is growing at about 2% per annum, driven by high levels of employment, rising wages, and low inflation and interest rates. 462 more words
Tags » Macroeconomics
Larry Elliott’s economics opinion piece from today’s Guardian discusses the issue of the UK’s large current account deficit and how to reduce it. He refers to a 1,100 more words
220 more words
“The many supporters of neoclassical economics present it as “value free” in the sense that it encapsulates eternal truths of economic behaviour and natural law that are as independent of human perception and will as the law of gravity.
Here is an interview with left-Keynesian economist Thomas Palley, who has written a number of books centred around the explanation of and solutions to rising inequality, the Great Recession, economic stagnation and the dominance of finance in the economy and its damaging political influence. 69 more words
553 more words
“Economists are taught that the economy is intrinsically stable – price changes are small and random, so perturbations are rapidly damped out by the ‘invisible hand’ of market forces.
The rate of profit, a concept more or less central to all schools of economics, from mainstream neoclassical to Marxist, still gives rise to vigorous academic debates. 933 more words