Tuesday, 20 November 2012


Preparing For The Coming Election

Duly Noted
After the choice, a new chance to return the merchandise.
Understandably, America’s election, lost by the Republicans, owns the front pages. The volume of the coverage suggests that all has been said about the event. However, by looking beyond the “immediate trauma”, several observations emerge.

The Tragedy Of The Euro

2012 has been a year of great turmoil for the euro. But our common currency is not the only thing that is in crisis. OUr economic theory is too, and even more so. For decades, macro-economic policy has been conducted within a Keynesian framework. And while no Keynesian economist has predicted this crisis, or is even able to explain its causes, we are still listening to them today to get out of the mess they brought us into. I would say that this is a problem of legitimacy.