Economy, Politic

The politics of paralysed puppets

Texte by Michel Santi  Globalisation didn’t force States to implement divisive public policies which have exacerbated inequalities and jammed the social ladder. The choice made by our successive governments to enact massive deregulation was deliberate, leaving the market as the sole arbiter of individual liberties and as the only generator of wealth and opportunity, albeit […]

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Economy

Mais où sont les faillites d’antan ?

Texte by Michel Santi  Adam Smith l’avait noté: les Etats ne remboursent jamais leurs dettes. A la faveur de l’industrialisation, de la modernisation et de la globalisation des économies, le secteur privé s’est lui aussi joint au secteur public et rembourse rarement ses dettes. Car, tout au long de l’histoire des Etats -voire de l’Histoire […]

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Economy, Politic

Les keynésiens aiment Trump !

Text by Michel Santi  Comment comprendre la sérénité – ai-je dit l’euphorie? – des marchés suite à l’élection de Donald Trump ? Assurément, pas de crise économique ni de récession ne sont envisagées dans un contexte où la domination des Républicains au Sénat, à la Chambre des Représentants et à la Maison Blanche stimuleront les […]

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Economy

Choose your poison

“The essence of secular stagnation: sick recoveries which die in their infancy and depressions which feed on themselves and leave a hard and seemingly immovable core of unemployment.” It is in these terms that the father of secular stagnation, Alvin Hansen, described to the American Economic Association the economic climate of 1938…which could just as […]

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Economy, Politic

The euro and the gold standard

Well before the creation of the euro, the Canadian, Robert Mundell, was to enumerate the conditions of success for a monetary union. His works won him the Nobel Prize in 1999, precisely the year that the euro was launched. According to Mundell, a currency shared by a large geographic area is only viable when there […]

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