Koo's conclusion: "I therefore expect German policymakers will continue to focus on treating the patient’s diabetes while largely ignoring his case of pneumonia."
Read it at The Financial Times | FT Alphaville
Richard Koo’s semi-successful attempt to persuade Germans about balance sheet recession
Posted by Kate Mackenzie
(h/t Scott Fullwiler via Twitter)
Reading not so far behind the lines in the post, Germany is pursuing disaster capitalism, and "structural reform" is basically wage repression in the name of competitiveness — in other words, an international race to the bottom in which workers take the hit with a vague and unenforceable promise of benefitting eventually from trickle down. Same old neoliberal nonsense.
Reading not so far behind the lines in the post, Germany is pursuing disaster capitalism, and "structural reform" is basically wage repression in the name of competitiveness — in other words, an international race to the bottom in which workers take the hit with a vague and unenforceable promise of benefitting eventually from trickle down. Same old neoliberal nonsense.
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