Treating federal budgets like that of a household has starved economies of precious resources and has facilitated unprecedented levels of private and household debt. Editor-in-chief Claire Connelly explores the consequence of this logical fallacy in an excerpt of her upcoming book, How The World Really Doesn’t Work.
Economist Dr Steven Hail on how Japan has managed to avoid another financial crisis without creating a major private debt problem, while America and Australia… have not.
In this Renegade Short, Professor Steve Keen explains why the government isn’t supposed to balance it’s accounts like a household.
The assumption that you’ll invest enough of your earnings into a pension scheme and enjoy a decent standard of living when you retire is a faulty one. Today, the retirement prospects for Generation X’ers and Millennials are looking bleak. Andrew Walker looks into what went wrong.
Responses to previous instalments of my “Economic Perspectives” include queries on why unbridled credit expansion by the main central banks in USA, UK, EU and Japan does not appear to be reflected in a commensurate rise in the general price level, affecting all sectors of the economy.