Wednesday, April 25, 2018

The Wall Street Journal and the future of Greece

Greece’s Business Prospects Brighten After Lost Decade. Or so says the Wall Street Journal. I fail to see how. And the graph below is their illustration.

Note that the reason for the brighter situation is merely that it has stopped falling. I had a similar graph not long ago comparing it just with the Depression in the US.

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Rethinking the determination and long-run evolution of income distribution

New paper by Thomas Palley. From the abstract: This paper presents a theory and model of long-run cycles in income inequality. The model exp...