Friday, March 27, 2015
  1. Secular Stagnation for Free

    Ricardo Hausmann

    Secular Stagnation for Free


     argues that much economic progress goes unmeasured, because no one is paying for its benefits.

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    For some reason, achieving a level of investment that would generate full employment seems to require negative real interest rates, which is another way of saying that people have to be paid to invest. In fact, to harness the possibilities of new technology, we may need non-market forms of payment for valuable contributions. READ MORE

  2. A Window on China’s New Normal

    Martin Feldstein

    A Window on China’s New Normal


     explains how the country’s leaders have reconciled themselves to slower economic growth.

    Bank of China skyscraper MASON (alex55)/Flickr

    At this year’s China Development Forum, virtually every official in attendance accepted that GDP growth will continue to slow. They now seem to understand that this will not fuel unemployment, because the slowdown reflects China’s structural shift from heavy industry to more employment-intensive consumer services. READ MORE

  3. Europe’s Easy-Money Endgame

    Hans-Werner Sinn

    Europe’s Easy-Money Endgame


     shows why quantitative easing by the ECB, rather than saving the euro, may cause its messy demise.

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    Rescue packages have relieved the eurozone’s financial distress, but at a high cost. Not only have they enabled investors to avoid paying for their poor decisions; they have also allowed overpriced southern European countries to defer real depreciation, which is necessary to restore competitiveness. READ MORE

  4. Sustaining the Unsustainable Eurozone

    Yannos Papantoniou
  5. Messed-Up Macro

    Robert Skidelsky

    Messed-Up Macro


     on why the right economic policies cannot work without the right public expectations.

    Glasses page of number equations economic Ruth/Flickr

    Once beliefs and expectations are introduced into economics, as is surely reasonable, the results of fiscal and monetary policy become indeterminate. Too much depends on what people think the results of the policy will be. READ MORE

Focal Point

309 pages
309 pages

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