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On the blogs

For Whom the Wall Fell? -- Branko Milanovic's analysis of the effects in Eastern Europe of the transition to capitalism. Not good, by the way. Few success stories, and mostly associated to commodity booms. Worth reading also his response to Andrei Shleifer's view that the transition was a success.

Trapped in a Recession -- C.P. Chandrasekhar discusses why we are back in a "situation where finance capital is back to profitability and is thriving but the real economy and the rest of the system is mired in recession." In one word, austerity.

Obituary: Frederic S. Lee (1949-2014) -- Tae-Hee Jo has published a nice obituary with more biographical detail than previous ones.

IMF Response to the Financial and Economic Crisis -- Independent Evaluation Office (IEO) report on the IMF's role during the Great Recession. They suggest that: "The IMF’s record in surveillance was mixed. Its calls for global fiscal stimulus in 2008–09 were timely and influential, but its endorsement in 2010–11 of a shift to consolidation in some of the largest advanced economies was premature." I am more critical, as you know, but it is good that their evaluator noticed that the IMF has pushed for austerity too soon.

PS: And yes the last one is not really a blog post. But it's related to a previous blog post of mine. ;)

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