In the News
Is the Euro to Blame For Europe's Poor Growth?
11th August 2016
Today's Guardian carries an excerpt from Nobel Prize winner, Joseph Stiglitz's new book, "The Euro and Its Threat to the Future of Europe". In it he suggests that, in its current form, the Euro is unworkable and operating so as to run contrary to the aims at its inception: it has neither encouraged growth, nor encouraged political integration - in anything other than a superficial sense.
The article can be found here: The Problem with Europe is the Euro
However, if this is intended to be a radical hypothesis, then I'm afraid that Stiglitz is sadly mistaken. It is, as Molesworth might say the sort of thing that "any fule kno".
The current state of the Euro seems to show that even top economists are sometimes unaware of basic economic principles, such as the 'sunk cost fallacy'. And if Stiglitz's call-to-arms addresses that at the very least, then perhaps it might have served a purpose.
You might also like
Slowing German economy must raise investment
19th October 2014
Growth and Development in the Ivory Coast
20th October 2014
Inequality and consequences for economic growth
6th October 2014
After the BRICs, the GIPSIs: Tackling Europe’s Problems
10th September 2014
The Euro: How The Euro Was Saved
16th May 2014
Capitalism has made the world a more equal place
15th May 2014
China’s Development - Past Present and Future
25th January 2014
Defaults today mean less jam tomorrow
25th July 2013