Thursday, May 28, 2015
  1. Niall Ferguson’s Wishful Thinking

    Robert Skidelsky

    Niall Ferguson’s Wishful Thinking


     continues the debate with the Harvard historian over the UK government's austerity policy.

    Niall Ferguson Javier Rojas/ZumaPress

    The Harvard historian Niall Ferguson is right that Keynesians should learn from experience. But until Ferguson explains why he thinks that austerity was a good thing for the UK economy, his critics will be forgiven for seeing his economic pronouncements as nothing more than political propaganda. READ MORE

  2. Channeling China’s Animal Spirits

    Andrew Sheng, ET AL
  3. Austerity Is the Only Deal-Breaker

    Yanis Varoufakis

    Austerity Is the Only Deal-Breaker


     says that his government is prepared to enact all of the reforms that its creditors expect.

    Greece parliament building Wassilios Aswestopoulos/ZumaPress

    Greece’s government is eager to implement an agenda that includes all of the economic reforms that its creditors expect, and is uniquely able to maintain the public’s support for a sound economic program. What it will not do is embrace a cure – deeper austerity – that kills the patient. READ MORE

  4. A World of Underinvestment

    Michael Spence

    A World of Underinvestment


     calls for international cooperation to boost investment in struggling post-crisis economies.

    underinvestment Luca Bruno/Flickr

    After World War II, policymakers recognized that deleveraging depended on nominal economic growth, which in turn depended on a global recovery. Like them, today’s policymakers should use – and even stretch – their balance sheets for investment, while opening themselves up to international trade. READ MORE

  5. The Economic Consequences of Mr. Osborne

    Niall Ferguson

    The Economic Consequences of Mr. Osborne


     rebuts the Keynesian argument that fiscal consolidation has damaged the UK economy.

    David Cameron and George Osborne Andrew Parsons/Flickr

    In the wake of the 2010 British election, Keynesians like Robert Skidelsky predicted that Chancellor of the Exchequer George Osborne was gravely wrong in seeking to reduce the budget deficit. It turns out that it is the Keynesians who were mistaken, with the main question being why they refuse to admit it. READ MORE

Focal Point

312 pages
312 pages

Commentaries available in 12 Languages