Reading List: The Global Jobs Challenge

18th October 2011

Faith-Based Economics

On the idea that deficit-cutting can boost growth: "The truth of the matter is that most of the euro zone policy makers and their erstwhile economic advisors are practicing a faith based economics. They believe in the moral purity of balanced fiscal budgets."  Multiplier Effect

 

Reality check: how much will higher inflation cost the government?

Carl Emmerson, deputy director of the IFS on UK Inflation reaching 5.2%: "It's not a huge number in the light of over £100bn worth of borrowing. It's unlikely to make or break the government's deficit reduction plan but it's not an insignificant sum."  The Guardian

 

Firms' deleverage and the persistence of unemployment

In a column co-authored by Tommaso Monacelli, Vincenzo Quadrini and Antonella Trigari, they explain why the credit crunch may be behind the high unemployment rate in the US. Vox EU

 

Debt, Deficits, And Modern Monetary Theory

From an Interview with Bill Mitchell: "Budget deficits, independent of any monetary operations, drive interest rates down, not up. This is the complete opposite of what orthodox economists claim is the case, and it's confirmed by the present combination of record low interest rates and very large budget deficits." HIR

 

The Global Jobs Challenge

"Over the past three decades, hundreds of millions of new workers have entered the global economy, bringing tremendous growth in income levels, opportunities, and the size of the global economy. But these new workers have also brought more employment competition, which has had profound distributional effects."  Project-Syndicate

 

Got any other suggestions for what we should be reading? Tell us below? 

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