Once Again on the IT Challenges in Converting to the Drachma
Why the left is not doing itself, or the Greek people, any favors by minimizing the difficulties in converting to the drachma.
Read more...Category Archives: Economic fundamentals
Ugly Greek Bank Resolutions and Depositor Bail-Ins Coming Soon
Why the coming bank bail-ins in Greece are going to be far more costly in economic terms than most observers imagine.
Read more...Why Debt Sustains Corruption in Greece and Vice Versa
This post makes important observations about how the elite levels of Greece engage in rent-seeking, aka corruption, and can continue those strategies even in the face of economic collapse, to the detriment to the rest of Greek society.
Read more...What’s Wrong with Inflation Targeting?
Macroeconomic policy focused on inflation targeting is likely to deliver neither macroeconomic stability nor economic development, aka sustainable growth.
Read more...The History of European Macroeconomics and Exchange Rate Policy
This is a very readable and important account of how Europe came to embrace some of the key elements of its current monetary policy and exchange rate straitjacket.
Read more...Odds Favor a Greece Deal Failure and Defacto Grexit
The odds now favor the tentative deal struck over the weekend to “rescue” Greece, which many have correctly depicted as a brutal economic colonization of Greece by its lenders, coming unraveled.
Read more...Greeks Rebel Against Bailout, Risk Collapse
Greek unions and other groups are mobilizing against the punitive deal tentatively agreed with Greece’s creditors. But can they really stand in its way?
Read more...The IMF’s Olivier Blanchard Writes a Greek Tragedy
The IMF’s research head, Olivier Blanchard, attempted to defend the IMF’s sorry record in Greece. What if any of his argument makes sense?
Read more...The Awful Press Coverage of Lew and Lagarde That Fueled Delusion Wednesday
By Nathan Tankus, a writer from New York City. Follow him on Twitter at @NathanTankus Part of the difficulty of writing in detail about the Greek crisis is how awful the reporting is. Headlines often say misleading or outright lies, backed up by articles that are usually somewhat less misleading but require strong parsing to […]
Read more...Tentative Deal Strips Greece of Sovereignty, Makes Debt Relief Dependent on Compliance
The tentative deal deal with Greece and its creditors is simply vicious.
Read more...The Greek Last-Chance Proposal: Stepping Backwards to Move Forward?
An analysis of the proposal approved by the Greek parliament yesterday by 251 votes out of 300.
Read more...“Tsipras Has Just Destroyed Greece”
Tsipras has managed to deliver to the neoliberals a victory more complete than they could ever have engineered on their own.
Read more...Wolf Richter: Microsoft Tallies the True Costs of the M&A Boom: Layoffs, Write-Offs, Shut-Downs, and Economic Decline
Microsoft illustrates the real-world fallout of letting corporate executives, either out of desperation or out of finding deal making more fun than the grind of making businesses perform better, follow the siren song of M&A mavens.
Read more...Grexit: Your Humble Guest Writer Talks to YSI INET
Nathan Tankus talks to YSI INET about a Grexit and Greece
Read more...Why Growth in Finance is a Drag on the Real Economy
New evidence shows that when the financial sector grows more quickly, productivity tends to grow disproportionately slower in industries with either lower asset tangibility or in industries with higher research and development intensity. It turns out that financial booms are not, in general, growth-enhancing.
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