Tag: Eurozone

Swimming in Excess German (National) Savings

Swimming in Excess German (National) Savings

It is well known that trade, savings and current account imbalances lie at the heart of the Eurozone crisis. Until these imbalances are resolved, it is difficult to imagine any solution to the ongoing slow-motion Euro-train wreck. In a recent article on the roots of these imbalances, Peking university economist Michael Pettis observes that One […]

The Case for “Austerity Economics”

The Case for “Austerity Economics”

Brown University political scientist Mark Blyth’s latest book, Austerity: The History of A Dangerous Idea, is making some waves. After several years of failed attempts to revive the “confidence fairy” by cutting state budgets in the Eurozone and Britain in a time of low growth (if not negative growth), it seems many are waking up to the reality that, as […]