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Demand shortfall casts doubt on early austerity
Rapid cuts in fiscal support make sense if, and only if, monetary policy can be effective on its own and expanding the interest-elastic parts of the economy is the best way to climb out of the hole, says Martin Wolf Hosted on Acast. See htt
This global game of ‘pass the parcel’ cannot end well
Was the summit of the Group of 20 leading economies in Canada over the weekend a step forward towards co-operation or a step backwards towards disagreement? The answer seems to be both. Hosted on Acast. See https://acast.com/privacy for mor
The risks of Osborne’s pre-emptive strike
The balance of cuts that the chancellor has set out is unlikely to prove politically sustainable, let alone sensible, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for more information.
A bloodbath none was prepared for
Perhaps only a young government – in age and in time in office – would gamble so much on such a fast adjustment, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for more information.
Why it is right for central banks to keep printing
At present, we have ‘too little money chasing too many goods’. In this environment, monetary policy must be aggressive. When the economy recovers, the monetary effects should be withdrawn, says Martin Wolf Hosted on Acast. See https://acast
Why plans for early fiscal tightening carry global risks
Yet again, we hear the cry of the old economic religion: repent before it is too late; the wages of fiscal sin is death. But is it already time to retrench? I doubt it, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for mor
A question for chancellor Osborne
Congratulations, Mr Osborne, on "hitting the ground running". You have made good decisions already. So far, so good. But here is my question: what is your "plan B"? , asks Martin Wolf Hosted on Acast. See https://acast.com/privacy for more
Fear must not blind us to deflation's dangers
A consensus is forming that policymakers in countries with large fiscal deficits should tighten fiscal policy sharply – but what makes them sure that business and consumers will spend in response to austerity? asks Martin Wolf Hosted on Aca
The grasshoppers and the ants – elucidating the fable
Flows of finance from export-driven ant nests to advanced grasshopper colonies end in tears. Flows of finance from old ant nests to young ones have not worked out either, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for m
An ABC of financial shocks and fiscal aftershocks
‘If the forecasts are true,’ asked Bobby, ‘why do all these people talk about ‘instability’? Martin Wolf responds Hosted on Acast. See https://acast.com/privacy for more information.
Spare Britain the policy hair shirt
The OECD seems to take the view that they only big risk is a loss of fiscal and monetary ‘credibility’. But Martin Wolf argues a lengthy floundering economy is a more serious risk Hosted on Acast. See https://acast.com/privacy for more info
The grasshoppers and the ants – a modern fable
Today’s global economy is more complex than Aesop could have imagined. What would be the moral of a contemporary version of his famous story where the “ants” are Germans, Chinese and Japanese, while the “grasshoppers” are American, British,
Eurozone plays 'beggar my neighbour'
Despite today’s gloom and doom, the eurozone will probably survive. But the view that everything would now be fine had fiscal rules been followed is wrong. The private sector’s irresponsibility was the biggest failing, says Martin Wolf. Hos
The economic legacy of Mr Brown
Everybody would like to blame Gordon Brown for the financial crisis. But he was only acting in line with the national consensus on economic policy, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for more information.
Governments up the stakes in their fight with markets
The German inclination is to believe that everything would be fine if deficit countries were placed under greater discipline. This is false. The answer, instead, is to create a system that recognises and responds to reality, says Martin Wol
A bail out for Greece is just the beginning
Desperate times - desperate measures, says Martin. Hosted on Acast. See https://acast.com/privacy for more information.
Britain's historic general election
Martin finds himself in New York for the election - which he says gives him a sense of perspective. Hosted on Acast. See https://acast.com/privacy for more information.
Why cautious reform is the risky option
To make anything close to the present system less unsafe, says Martin, requires radical changes in the rules - tighter supervision is not enough, incentives must change fundamentally. Hosted on Acast. See https://acast.com/privacy for more
The challenge of halting the financial Doomsday machine
People pay too much attention to the direct costs of bailouts says Martin and not enough to the costs which matter - those of the recession itself and the huge jump in public debt. Hosted on Acast. See https://acast.com/privacy for more inf
Growth is the fix for British finances
Martin Wolf asks what is the right economic medicine for the UK? He argues that rebalancing the economy towards higher investment and higher net exports is a big part of the answer. Hosted on Acast. See https://acast.com/privacy for more in
UK economy must perform a rebalancing act
Today's fiscal deficits exceed those of any previous periods in peace time. Martin Wolf talks about the importance timing will play if the balance is to be redressed successfully. Hosted on Acast. See https://acast.com/privacy for more info
Evaluating the renminbi manipulation
Is China a currency manipulator? Yes. China has intervened on a gigantic scale to keep its exchange rate down and it is also protectionist. Hosted on Acast. See https://acast.com/privacy for more information.
Why Germany cannot be a model for the eurozone
Last week’s European Council was not a solution but a fudge. The IMF cannot save Europe Hosted on Acast. See https://acast.com/privacy for more information.
‘Back to the future’ imperils Britain
The party that deserves to win the UK election must craft a narrative that creates opportunity out of disappointment, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for more information.
Mistakes that drained the fiscal reservoir
The government is offering a delayed return to fiscal stability, with details still to be filled in. Is that good enough? No, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for more information.
Excessive virtue can be a vice for the world economy
Germany is wrong to reject a role in rebalancing global demand, says Martin Wolf. Beggar-my-neighbour policies to boost exports cannot work for everybody Hosted on Acast. See https://acast.com/privacy for more information.
China and Germany unite to impose global deflation
Suggestions from Schäuble and Wen would hit their own economies if followed through, says Martin Wolf. But it is not too late for a co-operative Hosted on Acast. See https://acast.com/privacy for more information.
The British election that both sides deserve to lose
At a time of crisis, the UK has to choose between a government about which it knows far too much and an opposition about which it knows far too little. Neither side is convincing, says Martin Wolf Hosted on Acast. See https://acast.com/priv
Germany's eurozone crisis nightmare
he twin imperatives of sound money and European integration are clashing. Ironically, Germany must become less German if the eurozone is to become more so, says Martin Wolf Hosted on Acast. See https://acast.com/privacy for more information
India’s elephant charges on through the crisis
The world’s biggest democracy has changed, says Martin Wolf. But economic pragmatism alone will not be enough: reforms are still needed Hosted on Acast. See https://acast.com/privacy for more information.
