Utopia, you are standing in it!

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The Washington Centre for Equitable Growth have joined the Wall Street Journal in falling for that dodgy OECD hypothesis about rising inequality holding back economic growth. The chart below shows stark differences between egalitarian Sweden and France, and the more unequal UK since 1970 in departures from a trend growth rate of 1.9% in real …

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Australia is certainly a dog of a place when it comes to trading across borders and the same pretty much goes for New Zealand. Continental European Union members who are next to each other have a good run when it comes to trading across borders. Germans seem to manage to stuff that up nonetheless. Source: …

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More than 15% of unemployed Europeans haven’t had a job for more than four years econ.st/1ghznmr http://t.co/NlLXnKPYRG— The Economist (@TheEconomist) August 10, 2015

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The boom that preceded the bust in the Greek economy did nothing for the rate of long-term unemployment among Greeks. Long-term unemployment had been pretty stable prior to the economic boom after joining the euro currency union. Source: OECD StatExtract. Nothing much happened to long-term unemployment in Italy or Portugal in recent decades. Spanish long-term …

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As the British labour market and long-term unemployment was starting to get something like that in the USA, the USA started to have unemployment it was more like the European labour markets in terms of the number of long-term unemployed. Nothing much happened in Germany and France. Source: OECD StatExtract.

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The Washington Centre for Equitable Growth recently tweeted that inequality harms growth in the USA as compared to Sweden, France, Germany and the UK. It was relying on some dodgy OECD research. .@OECD sees continued rise in growth-harming inequality, reports @PaulHannon29 on.wsj.com/1EZpq1S http://t.co/xt4heZysXT— Equitable Growth (@equitablegrowth) May 21, 2015 The Washington Centre for Equitable Growth …

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Figure 1 shows stark differences between Sweden, France, Italy and the UK since 1970 in departures from trend growth rates of 1.9% in real GDP per working age person, PPP. Italy did quite OK until 2000 growing at about the trend growth rate of 1.9% after which it fell into a hole so deep that …

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