Go back to the candy store, OECD tells governments
03 Jun 2016 Leave a comment
I spent a very interesting couple of days at the OECD Forum this week, during which its latest Economic Outlook was published. Like many others, the OECD has concluded that the world economy is set for a period of low growth. The usual post-recession boom hasn’t happened. Economies have returned to growth but at rates that are nowhere near enough to compensate for the losses they suffered after the crash.
The OECD’s projections for the major economies are dire. It doesn’t expect any of the G7 to manage 2 percent growth this year. It’s a little more optimistic about next year but not much.
One of the main reasons for the world economy’s failure to produce a rebound is sluggish productivity. Since the recession, productivity growth has slowed down almost everywhere.
This chart, tweeted by Jason Furman, chair of President Obama’s economic advisors, shows productivity growth for G7 countries over the past two decades.
View original post 680 more words
/cdn0.vox-cdn.com/uploads/chorus_asset/file/6321079/zzz-sh.0.png)
Now IMF too views neoliberalism as oversold..
31 May 2016 Leave a comment
Amazing things happening.
Jonathan D. Ostry, Prakash Loungani, and Davide Furceri of IMF revisit neoliberalism approach to economics and say it is oversold. IMF was perhaps one of the most fervent guardians of this neoliberalism approach to economics and now seems to question this very zeal. One component of this approach was capital account liberalisation where IMF religiously said abolish all capital controls. Now it thinks capital controls could be used. This was hailed as one big turnaround in thinking.
So in this note the authors talk about the same capital account and add another part of this approach- fiscal prudence:
View original post 455 more words
Utopia, you are standing in it! 
Recent Comments