Tag Archives: Financial crisis of 2007–2008

A dash of data: Spotlight on Italian households | OECD Insights Blog

November 23, 2015 By in Austerity, Business Administration, Growth, People, Politics Tags: , , , 1 Comment

English: The logo of the Organisation for Econ...

According to OECD Statistics Directorate Economic growth (GDP) always gets a lot of attention, but when it comes to determining how people are doing it’s interesting to look at other indicators that focus more on the actual material conditions of households. The article focuses on Italy and takes a look at a variety of economic variables trended over time.

Source: A dash of data: Spotlight on Italian households | OECD Insights Blog

In real terms, the charts highlight how Italian households are worse off since the 2008 financial crisis. Presumably, the austerity measures have taken a major toll. Interestingly confidence is now increasing progressively.

Thoughts?

English: The logo of the Organisation for Economic Co-operation and Development (OECD). (Photo credit: Wikipedia)

RealTime Economic Issues Watch | Some Big Changes in Macroeconomic Thinking from Lawrence Summers – Adam Posen – Peterson Institute for International Economics

November 22, 2015 By in Austerity, Business Administration, Central banks, Economics, Fiscal Policy, George Osborne, Growth, Keynesian, Monetary Policy, People, Politics, Unemployment, US Election Tags: , , , , Leave a comment
White House portrait of Lawrence Summers.

White House portrait of Lawrence Summers. (Photo credit: Wikipedia)

Some of the world’s top economists put macroeconomics under the microscope. Adam Posen responds to a a lecture by Lawrence Summers. Here’s his introduction:

A lot of economists, myself included, have spoken about the need to fundamentally rethink major parts of macroeconomics following the global financial crisis.

Source: RealTime Economic Issues Watch | Some Big Changes in Macroeconomic Thinking from Lawrence Summers

This short article is highly readable. It gives us some clues as to which statistics are more reliable. We live in world where economists and politicians are frequently at loggerheads with mainstream media keen to gloss over the evidence.

Summers highlights the major global trend over the last few decades of substantial disemployment—or withdrawal from the workforce—of relatively unskilled workers.

Thoughts?