by
Mark Blyth
a term for the loans provided by the IMF and the World Bank to countries that experienced economic crises, which come with strings attached: privatisation and deregulation, mainly (the conditions are also known as the Washington Consensus)
163
EU policy in the European periphery as little more than a localized set of structural adjustment policies
notable
7 years ago
EU policy in the European periphery as little more than a localized set of structural adjustment policies
notable
7 years ago
fiat
(en)
(noun) an authoritative command or order to do something; an effectual decree
180
when you hand over your goods (an export) to someone far away, that the money in which they will pay you back (as payment for their import) is not just a pile of worthless paper--the so-called fiat money problem?
notable
7 years ago
when you hand over your goods (an export) to someone far away, that the money in which they will pay you back (as payment for their import) is not just a pile of worthless paper--the so-called fiat money problem?
notable
7 years ago
Wagner Act
(en)
aka the National Labor Relations Act of 1935; a foundational statute of US labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining for better terms and conditions at work, and take collective action including strike if necessary
188
reflationary road the the Roosevelt administration took through the depression years [...] the National Industrial Recovery Act and the Agrictultural Adjustment Act through the Social Security Act and the Wagner Act's focus on maintaining consumption
confirm
7 years ago
reflationary road the the Roosevelt administration took through the depression years [...] the National Industrial Recovery Act and the Agrictultural Adjustment Act through the Social Security Act and the Wagner Act's focus on maintaining consumption
confirm
7 years ago
inter alia
(la)
among other things
215
They argue, inter alia, that consolidating in a downturn is twice as risky as doing it in an upturn
notable
7 years ago
They argue, inter alia, that consolidating in a downturn is twice as risky as doing it in an upturn
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7 years ago
sobriquet
(en)
(noun) a descriptive name or epithet; nickname
241
the pejorative sobriquet of financial repression
confirm
7 years ago
the pejorative sobriquet of financial repression
confirm
7 years ago
financial repression
(en)
(from the FT so, grain of salt) measures by governments to boost their coffers and/or reduce debt, including holding down interest rates to below inflation (representing a tax on savers and a transfer of benefits from lenders to borrowers), imposing capital controls, etc. China gets accused of this a lot
241
Financial repression is basically a tax on captive bondholders and it works best when you have banks over a proverbial barrel
notable
7 years ago
Financial repression is basically a tax on captive bondholders and it works best when you have banks over a proverbial barrel
notable
7 years ago
Hartz reforms
(en)
a set of recommendations submitted by a committee on reforms to the German labour market in 2002; named after Peter Hartz (head of the committee); goal: to reduce unemployment
268
Germany's 2000s turnaround is often attributed to the so-called Hartz reforms of that decade, which reduced welfare protections and increased labor market participation.
he says this is false because: wages actually fell for the decade prior to reforms because of reunification + expansion of German auto sector abroad (?); all these reforms did is increase inequaity
notable
7 years ago
Germany's 2000s turnaround is often attributed to the so-called Hartz reforms of that decade, which reduced welfare protections and increased labor market participation.
he says this is false because: wages actually fell for the decade prior to reforms because of reunification + expansion of German auto sector abroad (?); all these reforms did is increase inequaity
notable
7 years ago