China’s Africa

by Serban V.C. Enache

The last century’s violence and propaganda have left us with a certain type of thinking. That world affairs revolve around superpowers in their attempts to establish dominance over various parts of the globe. Spheres of influence are consolidated through the use of military force, economic sanctions, and regime changes – but also through diplomacy, material and financial aid, and cultural exports. Continue reading “China’s Africa”

Milton Friedman, the Liar

by Serban V.C. Enache

Milton Friedman, a great American economist. He received the 1976 Nobel Memorial Prize in Economic Sciences. The father of the Monetarist current. Avid supporter of the so-called Free Market. His work influenced policy makers far and wide. Milton Friedman, a gentleman, a liar… Continue reading “Milton Friedman, the Liar”

Funding Schemes for Local Authorities and Regional Governments

by Serban V.C. Enache

The simplest solution allowing the government maximum space for fiscal and monetary policy is for that government to spend and tax in its own free floating fiat currency. Since Local Authorities and Regional Governments are not sovereign, they are forbidden to tax citizens in any other currency except the national currency. Continue reading “Funding Schemes for Local Authorities and Regional Governments”

Brazil – Beneath the Mist of Corrupt Politics

by Diego Ramiro Lattes

Foreword

The current political-economic situation in Brazil is very tense. I aim to be impartial to the best of my ability. However, objective data on the subject is hard to obtain, not only due to manipulation by all factions involved in the present crisis – but also due to how veiled Brazilian politics tend to be. Continue reading “Brazil – Beneath the Mist of Corrupt Politics”

Does Stimulus Spending Work?

The Case against Ricardian Equivalence

by Joe Blackwell

Today the use of fiscal policy (expanding government spending or reducing taxes) to stimulate GDP growth in times of recession has become one of the most controversial policy areas of modern macroeconomics. For those who favour free market based solutions, commonly known as neoliberals, interventionist fiscal policy is inherently wasteful and distorts the processes of the market system. On the other side of the debate are the various groups of Keynesians who see fiscal policy as a crucial stabilisation tool to prevent the economy entering a deep and prolonged recession. Continue reading “Does Stimulus Spending Work?”