Chris Johns: What lessons can be learned from economic recovery? - Europe obsesses about who will pay for future bank bailouts while failing to deal with consequences of the last

Europe, as is painfully familiar, pursued an alternative policy mix. Aggressive fiscal austerity in many countries was accompanied by reluctant and relatively feeble monetary stimulus. One consequence of which, which has not attracted enough comment or analysis, is that the euro has been too strong. Japan lost two decades (not just one) pursuing a policy mix that led, until very recently, to an over-valued currency. Another difference between the US and the UK on the one hand and the euro area and Japan on the other is the speed which banking systems have been cleaned up.


Mein Blog befasst sich in einem umfassenden Sinn mit dem Verhältnis von Wissen, Wissenschaft und Gesellschaft. Ein besonderes Augenmerk richte ich dabei auf die Aktivitäten des Medien- und Dienstleistungskonzern Bertelsmann und der Bertelsmann Stiftung.