The EU Fiscal Compact
Philip Arestis and Malcolm Sawyer, guest bloggers The European Leaders agreed in principle at their meeting in Brussels on the 8th/9th of December 2011 to adopt tougher sanctions on the euro area...
View ArticleReforming the European Central Bank to Promote Economic Prosperity
Philip Arestis and Malcolm Sawyer In our blog in December we provide a quick critique of the ‘fiscal compact’ for the Economic and Monetary Union (‘euro area’) (now to be embodied in the Treaty on...
View ArticleThe Time Bomb of Public Private Partnerships
Philip Arestis and Malcolm Sawyer The South London Healthcare Trust, which runs three hospitals in south-east London, has recently been put into administration by the UK Secretary of State for Health...
View ArticleThe Dangers of Pseudo Fiscal Union in the EMU
Philip Arestis and Malcolm Sawyer We write this as people who have long argued that a currency union such as the Economic and Monetary Union (EMU) would need to be accompanied by what could be termed a...
View ArticleThe Barriers to Full Employment Are Political, Not Economic
Malcolm Sawyer In “Political Aspects of Full Employment,” a still widely cited article from 1943, Michal Kalecki raised many questions about the ability of a capitalist economy to maintain prolonged...
View ArticleQuantitative Easing: Can it Be Unwound?
Malcolm Sawyer and Philip Arestis The general response to the financial crisis of 2007 onwards by central banks included large cuts to the policy interest rate and then adoption of ‘quantitative...
View ArticleThe Euro Greek Crisis Again Shows the Poverty of Austerity
Philip Arestis and Malcolm Sawyer One rather obvious conclusion which should be drawn from the experiences of Greece in the past four years or so is that fiscal austerity does not work—in the sense of...
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