August 2012

Join, Or Die. aka “I Want Europe”

24 August 2012

Join, Or Die by Benjamin Franklin (Source: Wikipedia) It is possible – in my opinion – that the September Constitutional Court Ruling in Germany may indicate that Germany should move toward a European Integration where European nations surrender powers to the European Union. Angela Merkel has been pushing for this but her critics argue that this […]


Nicholas Kaldor On The Common Market

16 August 2012

… Some day the nations of Europe may be ready to merge their national identities and create a new European Union – the United States of Europe. If and when they do, a European Government will take over all the functions which the Federal government now provides in the U.S., or in Canada or Australia. […]


EU Referendum?

10 August 2012

Spiegel Online is reporting that Germany is considering holding a referendum to transfer more powers to Brussels. Click below to go to the article: This is definitely a step in the right direction. Meanwhile The Economist is reporting of a plan of a Euro Area breakup by Germany! Click to read the article. Seems fictitious!


Kaldor’s Growth Plan

8 August 2012

Dani Rodrik has a Project Syndicate article titled No More Growth Miracles and in my view rightly identifies problems of the world economy, although has less to say how to resolve the crisis. These were most well understood by Nicholas Kaldor (who was touched by genius in Wynne Godley’s words). In the previous post How To Find Nicholas Kaldor’s Works, […]


How To Find Nicholas Kaldor’s Works [Updated]

4 August 2012

The only truly exogenous factor is whatever exists at a given moment of time, as a heritage of the past. – Nicholas Kaldor, 1985 That’s my favourite all time quote. I got myself Kaldor’s lecture series Raffaele Mattioli Lectures in a book titled Causes Of Growth And Stagnation In The World Economy today. Cover picture taken from my iPhone: It […]


The α2 Parameter In Stock-Flow Consistent Models

1 August 2012

Let us think of a closed economy. Assuming – every year the government runs a budget deficit – a careless analysis would imply the public debt keeps rising relative to gdp. Without going into derivation – which you can find in other sources – it can be shown that if there is a growth rate […]