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Slight increases in national-average earnings for older workers mask long-run stagnation and decline in Michigan, Ohio, Pennsylvania and Wisconsin – states that unexpectedly voted for Donal Trump

This article originally appeared on Bloomberg

Beneath the heated political rhetoric over U.S.-China economic ties lies an increasingly complex reality

A dollar-denominated global economy means the Fed is at once the bankers bank and government bank, as well as both U.S. central bank and global central bank — managing that hybrid is the challenge of our time

Comments on “German Wage Moderation and the Eurozone Crisis: A Critical Analysis” by Servaas Storm

If the public is to be called upon for the second time in twelve years to bail out businesses, it should get something back for its money. Bailed out firms should be compelled to issue convertible bonds to the government.

Fragility and Resilience in Green Development in Africa: Intersections and Trade-offs

“Moreover, too little government spending can increase company bankruptcies and lead to less investment in research and development, hurting the supply side of our economies — potentially exacerbating inflationary pressures. The EU has gone through a decade of demand stagnation, performing well below its productive potential. Inflationary forces of the 1970s are no longer intact, not least because of declining labour bargaining power, changing demographics, high inequality and private debt overhang. Without concerted fiscal expansion to scale-up investment and protect the vulnerable, aggregate demand will remain low and standards of living will stagnate. Instead of fetishising fiscal discipline, we should prioritise more important social, economic and environmental outcomes — like creating well-paid green jobs, lifting millions out of poverty and implementing green infrastructure projects.” — From Frank van Lerven and others, Financial Times

John Ruskin helps shed light on what it means to have an economy that demands we die for it

A financial industry safety net enriches bankers and their shareholders — at our expense

The same angst that Americans and Europeans have about the future of jobs is an order of magnitude higher in Asia.

Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes

Persistent changes in unemployment have lasting consequences for income distribution

Demand, Secular Stagnation and the Vanishing Middle-Class