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Closing Dinner Remarks — The Hyman P. Minsky Summer Seminar — June 21, 2014
Closing Dinner Remarks The Hyman P. Minsky Summer Seminar June 21, 2014 Daniel Alpert The Levy Economics Institute of Bard College Annandale-on-Hudson, New York This past weekend I was very honored to give the closing dinners remarks at the Levy Economic Institute’s Hyman P. Minsky Summer Seminar, which talk is set forth below. The Summer [...]
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The Devil’s in the Data: It Appears No One Knows What to Make of the U.S. Economy, and Here’s Why
The first half of May has produced a series of very confusing, and often misleading, U.S. (and some foreign) data that has set off considerable market volatility – for good reason. A good deal of the headline data is driven by conflicting underlying factors buried deeply in data releases, and pulling all of those dynamics [...]
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2013 U.S. Jobs Report Card: After All Is Said and Done, More Was Said than Done
As we wrote at the halfway point of last year in “The New Sick-onomy? Examining the Entrails of the U.S. Employment Situation” (July 24, 2013, also available in pdf here) and as we updated in September 2013, an alarming proportion of the new job creation we saw in the first three quarters of 2013 were [...]
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The Stubborn Slump in Advanced Economies: Fighting the Last War is Not a Path to Success
The following is a modified excerpt from my new book, “The Age of Oversupply: Overcoming the Greatest Challenge to the Global Economy,” which will be released for sale by the Penguin Portfolio division of Penguin Random House on September 26th. With the developed world economies still unable to escape from a condition of persistent economic [...]
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Alpert on The Daily Ticker: Low-Wage Jobs an All-Consuming Issue in U.S.
Dan Alpert’s EconoMonitor piece on the missing U.S. jobs recovery has proven a harbinger of widespread disappointment. The latest payroll numbers showed an inadequate 162,000 jobs created, supporting his diagnose of a superficial bump from low-wage hiring. Appearing on Yahoo Finance’s The Daily Ticker, Alpert explained the mechanics of the sputtering jobs recovery: “What you’re seeing right [...]
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The New Sick-onomy? Examining the Entrails of the U.S. Employment Situation
If you can forgive the following gratuitous self-promotion of my upcoming book, I have a story to tell you about the U.S. employment picture. A story that you may find far more interesting than the media and government-led backslapping that has been forthcoming on “jobs days” in the first half of 2013: “Economists are notorious [...]
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A Short Note on Cyprus and its Aftermath: The “Euro A” and the “Euro B” – Giving the Eurocrats a “Time Out”
Europe needs a short term disaggregation plan—of the type suggested by myself and others over the past two years—pursuant to which the debtor nations beset with massive underemployment and failing economies—would withdraw from the Eurozone-proper and adopt a “Euro B” currency, administered by the ECB, with a pegged exchange into the existing “Euro A.” Such [...]
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The Winter of our Discontent: Obama’s Tenuous Victory
An early winter has descended on the northeast, ushered in by a 100 year storm that has left the coastal portions of much of the mid-atlantic and northeastern states reeling. Our quadrennial demonstration of the degree to which the entire country is divided and politically irreconcilable was once again upon us last night. Moving into [...]
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Let’s Burst this “Banks Won’t Lend” Policy Trial Balloon Before it Leaves the Ground, Please
David Reilly writes in today’s Wall Street Journal Heard on the Street column about how policy makers are pressuring banks to lend more to consumers, and are even considering novel measures providing targeted liquidity to encourage them to do so. Reilly notes the opposite view, not without some merit, that consumers don’t wish to borrow as they “still [...]
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Another Summer of Discontent: The Four Factors that Explain Why What We’re Doing Isn’t Working
Here is what we know about the global economy given the experiences of the past four years: There is a global insufficiency of demand relative to an immense oversupply of labor and productive capacity. The imbalances between high-wage/current-account-deficit/balance-sheet-indebted nations and lower-wage, surplus nations have produced a glut of savings in the latter, relative to the opportunities [...]
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Otaviano Canuto
Otaviano Canuto is Senior Advisor on BRICS Economies in the Development Economics Department, World Bank, a new position established by President Kim to bring a fresh research focus to this increasingly critical area. He also has an extensive academic background, serving as Professor of Economics at the University of Sao Paulo and University of Campinas (UNICAMP) in Brazil.
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