tag:blogger.com,1999:blog-2761684730989137546.post2698273146870548190..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Bill Mitchell — The NAIRU/Output gap scammike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-75610051240754656912019-04-30T07:58:18.422-04:002019-04-30T07:58:18.422-04:00Read critique ”Output gap nonsense”, by Adam Tooz...Read critique ”Output gap nonsense”, by Adam Tooze, <br />Social Europe, 30th April 2019. Seemingly innocuous concepts constrain policy<br />and shape reality. Thwarted historic-based output gaps, <br />prevents growth stimulus for Italy. Beyond EU false outputgap methodology<br />its labour market flexibility doctrine is another spurious concept. Ephemeral<br />improved price competitiveness is typically offset by reduced wage demand<br />and productivity capture. In the limit, continued economic stagnation in Italy, youth<br />unemployment at 30% and poverty feed support for extreme right parties <br />with roots in identityAnonymoushttps://www.blogger.com/profile/15612382892396542773noreply@blogger.com