Austerity Versus Stimulus | by Prabhat Patnaik

IT is obviously silly to push for austerity in the midst of a recession, not just silly but cruel, since it prolongs the pain of unemployment. The recession is caused by a deficiency of aggregate demand. To overcome it what is necessary is an increase in demand which...

Euro Bailout Failure | by 5 ducats

Have so many ever been so enthusiastic over a plan to beg, borrow, and steal $1.5 trillion? •Beg – Weaker European banks will have to raise over $100 billion in capital. •Borrow – Eurozone will borrow $1.4 trillion to bailout future sovereign and bank...

A looming global recession | by CP Chandrasekhar

All recent economic indicators point almost unambiguously to a new global recession, one which threatens to be more severe and prolonged than the 2007 crisis. While the epicentre of this developing crisis is located in the metropolitan countries, specifically the EU...