British austerity is no model for the rest of the world – Larry Summers – FT.com

May 5, 2014 By dralfoldman in Austerity, David Cameron, Fiscal Policy, George Osborne, Growth Tags: David Cameron, Financial Times, Harvard, Harvard University, Larry Summers, Lawrence Summers, White House, Wikipedia 2 Comments

White House portrait of Lawrence Summers.

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

This is a MUST-READ article by Larry Summers, Charles W Eliot university professor at Harvard and a former US Treasury secretary. It’s published in the FT.

Brtish austerity is no model for the rest of the world – FT.com.

Personally, I agree with Larry Summers but feel that he’s been too polite by far.

For me, David Cameron’s UK Government has been reckless in stimulating demand on the back of a government guaranteed domestic property inflationary bubble. This blog has been advocating, for some time, wider policies that addressed skills, competitiveness and exports.

Let me turn this to an open question:

Given the UK‘recent increase in economic growth, how should government policy be changed to broaden and deepen the growth so that it is sustainable for a longer period?

Any thoughts?

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Janet Yellen: The cheery economist tipped to be the first lady at the Fed – FT.com

September 21, 2013 By dralfoldman in Austerity, Business Administration, Central banks, Keynesian, Monetary Policy, People, Politics Tags: Federal Reserve Bank of San Francisco, Federal Reserve System, Financial Times, FT.com, Janet Yellen, Lawrence Summers, Richard McGregor, Social Science 3 Comments

In 1935, Cret designed the Seal of the Board o...

In 1935, Cret designed the Seal of the Board of Governors of the Federal Reserve System. (Photo credit: Wikipedia)

This is an excellent and informative article by Robin Harding and Richard McGregor in the FT. It’s HIGHLY RECOMMENDED, as a read in my view.

via Janet Yellen: The cheery economist tipped to be the first lady at the Fed – FT.com.

Personally, I think that Janet Yellen will be a popular and safe choice for the next chair of the Fed.

BUT, I wonder how long the popularity will last?

Any thoughts?

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