13th June 2012
Barry Eichengreen says one way to solve the United States crisis of long-term unemployment is to do what the federal government did during the Great Depression: Work-sharing. That is, rather than resorting to extensive layoffs, firms should have employees work a partial week. Project Syndicate
According to Robert Reich, the reason why the US economy is still struggling is because the vast middle class can't spend more to get it out of first gear. And unless the middle class regains the bargaining power it had in the first three decades after World War II, the economy will be stuck in first gear. Robert Reich
"Sentencing a white-collar defendant to a substantial prison term is really more about expressing society's outrage at a misconduct that took advantage of investors and destroyed their financial well-being. These types of fraud are akin to economic homicide, and courts are treating them more and more as such." Deal Book
Two academics use data on regional trade agreements to identify the determinants of how long it takes to wrap up regional trade agreements. The findings are not good news for the chances of the Doha Round (which is into its 11th year) ending any time soon. Vox Eu
As the gains from the weekend's bailout of Spanish banks were wiped out within hours, it's looking more and more likely that the EU has just flushed €100bn down the drain. New Satesman
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