IMF’s Christine Lagarde’s Maggie Thatcher moment
Once more, the world is poised on the brink of a vicious recession, and once more, it seems that the political leaders cannot pluck up the courage to take the…
imf
Global Financial Leaders Recommend Cutting Fossil Fuel Subsidies
Oil_Money.jpg Global financial institutions including the International Monetary Fund and the World Bank have released a new set of recommendations for G20 countries to meet their goal of providi...
Global Imbalances
The IMF World Economic Outlook notes that the desired process of rebalancing global demand from countries with large trade deficits (notably the US) to countries with large trade surpluses (notably…
Inequality is bad for business
In August Canadian Business magazine published my article on why inequality is bad for business. It is produced in full below. Last week the International Monetary Fund, not well-known for…
The Myth of Expansionary Austerity
As the US and Europe turn from stimulus to fiscal austerity, claims are heard that spending cuts actually stimulate economic growth. That is the argument heard, not just from the…
Christine Lagarde – IMF Chief on US debt ceiling
Christine Lagarde supports Obama on raising the debt ceiling for the United States. If this is not done, she says the impact would be disastrous for the US and the…
Greek Sovereign Debt Crisis a Sovereignty Crisis
Greek Parliament, Syntagma Athens – by kouk News outlets around the world have focused heavily on the so-called Greek Sovereign debt crisis this week. The proposed solution–an IMF loan package…
Greek Austerity Vote Is Just The Beginning
There was a certain amount of hand-wringing by the business press and politicians internationally that the PASOK government of Greece might not be able to pass the second austerity package…
Greece at a Crossroads
Now that the Greek government has survived a confidence vote in Parliament, the stage is set in Greece for further confrontations ahead of next week’s decision on the new “austerity”…
How Canada Can Cut About $3 Billion – The Easy Way
Funding to the IMF should be cut off.
Do Wages or Profits Lead Growth?
Earlier this month, I served as the discussant for a presentation by Engelbert Stockhammer, an economics professor from Kingston University in London. He was speaking at a conference organized by…
Riots and Disparity: Rome, London and Toronto
International headlines in the last two weeks have reported a massive amount of social unrest and unsettling news across the developed world, including riots and economic data which on the…