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?”

The USSR: When Dogma Stifles Innovation

A case of wasted potential, rent-seeking, and corruption

by Diego Ramiro Lattes

I sometimes wonder about the Soviet Union, what if history had been different? A myriad of scenarios come to my mind, but no easy answers. To venture into a realm of honest possibilities – plausible courses of action – requires a more thorough look at history than random newspaper articles allow. Continue reading “The USSR: When Dogma Stifles Innovation”

Justice for the WASPI and All Pensioners

by Serban V.C. Enache

Women Against State Pension Inequality are a UK-based campaign group that “fights the injustice done to all women born in the 1950s affected by the changes to the State Pension Law (1995/2011 Acts).”​​ The 1995 Conservative Government Pension Act included plans to increase the state pension age of women to 65, the same as men’s. The WASPI campaign agrees with equalization, but does not agree with the “unfair way the changes were implemented – with little or no personal notice, faster than promised (2011 Pension Act), and no time to make alternative plans.” The group does not ask for the pension age to revert back to age 60​. Continue reading “Justice for the WASPI and All Pensioners”