Wednesday, May 27, 2015
  1. Channeling China’s Animal Spirits

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

    Yanis Varoufakis

    Austerity Is the Only Deal-Breaker

    32

     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

  3. A World of Underinvestment

    Michael Spence

    A World of Underinvestment

    22

     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

  4. The Economic Consequences of Mr. Osborne

    Niall Ferguson

    The Economic Consequences of Mr. Osborne

    25

     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

  5. No Pain, No Gain for Britain?

    Robert Skidelsky

    No Pain, No Gain for Britain?

    9

     challenges the view that the Conservatives won because austerity worked.

    British Chancellor of the Exchequer George Osborne Wiktor Dabkowski/ZumaPress

    The economic historian Niall Ferguson blames John Maynard Keynes for Labour’s defeat in the recent UK election. But Labour has been running away from Keynes for years, while the victorious Conservatives’ austerity policy, which Ferguson defends, turns out to have inflicted severe damage on the British economy. READ MORE

Focal Point

Skidelsky and Ferguson Debate Austerity

More
312 pages
312 pages

Commentaries available in 12 Languages