At what was probably the most unpropitious moment in recent economic history to make the claim, US President Richard Nixon declared that we ‘are all Keynesians now’. In his view, the key problem of macroeconomic management, namely how to stabilise a modern economy, balancing growth (and employment) with inflation, was fundamentally resolved. Less than two […]
Italy’s Crisis: Why Doesn’t The Government Simply Dissolve The People And Elect Another?
On Sunday, the Italian President, unhappy with the finance minister that the almost new Italian government proposed, decided to blow up the democratic process rather than accept the outcome of the March election. Just to be absolutely clear: President Mattarella was well within his rights to do what he did – it is the constitutional duty of […]