The zombie argument of the bank split sceptics
Their objection is based on a fundamental misapprehension of what took place in 2008. This was not a case of a few badly-run banks failing. Rather the entire UK banking sector failed. It was a systemic collapse.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 4 July 2012 at 2:05 pm
Split up the banks – and do it properly
The onus must now fall on those who want to maintain the manifestly dangerous status quo, not the advocates of reform, to justify their position.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 4 July 2012 at 1:30 pm
Stiglitz: the full transcript
There’s some interesting stuff in there. Joseph Stiglitz says that the Vickers reforms to ringfence retail banking pobably don’t go far enough. He proposes a theory on why Germany practices left-wing economics at home but right-wing economics abroad (there’s a soldiarity gulf). He also explains why China can combine high growth with high inequality.
By Ben Chu | Eagle Eye, Econoblog | Monday, 2 July 2012 at 11:54 am
Is household deleveraging bad for growth?
The British public, in aggregate, paid down existing mortgages over the month, rather than taking on new home borrowing.
Does this matter for the wider economy? Interesting the OBR suggested in March that it does not.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 27 June 2012 at 12:39 pm
Keynesian theory and public borrowing
Keynesian theory says that over hasty deficit reduction can be counterproductive. This is because cuts and tax rises depress overall economic activity and thus tax receipts. Depressed activity also pushes up unemployment and results in a bigger benefits bill.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 26 June 2012 at 12:37 pm
Inequality lessons from Singapore
Singapore is a prosperous place with an education system that serves its brightest students exceptionally well. It is also a socially immobile and deeply unequal state. That’s not Gove’s vision for the UK, is it?
By Ben Chu | Eagle Eye, Econoblog | Friday, 22 June 2012 at 11:52 am
Vince Cable makes the case for an NGDP target for the Bank
Some economists argue that monetary policy is proving ineffective at getting us out of this present malaise because the Bank of England is failing to do enough stimulus, or, more importantly, failing to make it clear to the public and financial markets that it will do enough.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 20 June 2012 at 3:27 pm
“Liquidity is not the issue”
The logical conclusion from Sir Mervyn King’s reasoning is that this new UK liquidity push will be just as useless as that of the European Central Bank.I suspect this is indeed what the Governor really believes, and that he has been forced into the so-called “funding for lending” operation by a desperate Treasury.
By Ben Chu | Eagle Eye, Econoblog | Friday, 15 June 2012 at 11:05 am
The British economy: an international comparison
Strange that the eurozone crisis should be “killing” the UK recovery, as the Chancellor puts it, while leaving the major economies that are actually members of the single currency relatively unscathed.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 13 June 2012 at 1:02 pm
More European confusion for the markets
Herman Van Rompuy’s adviser went on one of the UK’s premier news programmes last night and managed to mislead the financial markets and the public not once, but twice.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 12 June 2012 at 11:11 am
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