Monday, December 22, 2014
  1. Britain’s Closet Keynesian

    Robert Skidelsky

    Britain’s Closet Keynesian

    4

     takes George Osborne to task for setting fiscal targets that he cannot achieve.

    George Osborne George Osborne/Tolga Akmen/ZumaPress

    As British Chancellor of the Exchequer George Osborne, the poster child for austerity, repeatedly misses his deadlines to balance the budget, he is starting to look like a closet Keynesian. What he fails to realize is that his attempts to cut spending during a crisis are undermining his effort to reduce the deficit. READ MORE

  2. Is the ECB Doing Enough?

    Peter Praet

    Is the ECB Doing Enough?

    7

     explains why the European Central Bank intervened in 2014 and what it plans to do next year.

    Euro currency Kevin Harber/Flickr

    The ECB has implemented a series of measures in response to economic sluggishness and financial trepidations in the euro area. Tentative evidence suggests that the measures are delivering tangible benefits to the European economy, and the ECB still has plenty of weapons in its arsenal should they prove necessary. READ MORE

  3. The Oil Price Opportunity

    Kemal Derviş

    The Oil Price Opportunity

    9

     proposes that governments take advantage of falling oil prices to introduce an explicit carbon tax.

    Gas station pump Wang Xiao/ZumaPress

    Though lower oil prices may boost overall global growth, with the oil-importing advanced economies gaining the most, the impact on efforts to combat climate change could be devastating. But this decline in oil prices could also provide a rare political opportunity to introduce an explicit carbon price. READ MORE

  4. Why Are Commodity Prices Falling?

    Jeffrey Frankel

    Why Are Commodity Prices Falling?

    20

     says that slower global growth and the threat of deflation are not driving the decline.

    Newsart for Why Are Commodity Prices Falling?

    Most dollar commodity prices have fallen since the first half of the year. Though a host of sector-specific factors are at work, the fact that the downswing is so broad – as is often the case with large price movements – suggests that macroeconomic factors are at work. READ MORE

  5. Good and Bad Inequality

    Dani Rodrik

    Good and Bad Inequality

    16

     notes that the equality-efficiency tradeoff is entirely wrong – except when it's not.

    world inequality MD. Hasibul Haque Sakib/Flickr

    Economics is a science that can claim to have uncovered few, if any, universal truths. Like almost everything else in social life, the relationship between equality and economic performance is likely to be contingent rather than fixed, depending on the deeper causes of inequality and many mediating factors. READ MORE

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