By MATTHEW DALTON European authorities are treating Italy’s debt problems as the product of a dysfunctional political culture. The chorus from Brussels and Frankfurt is that dispassionate technocrats, armed with help and advice from the euro zone, are needed to introduce essential reforms into a hidebound economic system. But a closer look at the numbers reveals Italy’s heavy debt burden isn’t a... Read more
Archive for the ‘Economics’ Category
Italy’s Debt: A Hangover From Joining Euro
November 17 | Posted by mrossol | Debt, Economics Tags: EuropeRemedial Economics: OWS Learns Basic Econ 101
October 27 | Posted by mrossol | Economics, The LeftNothing like real life learning. Hope someone learns… ——– The Occupy Wall Street protests have drawn huge numbers of confused and directionless young people, but maybe that’s not all bad. Some of them at least seem to be getting a remedial course in economics. Nan Terrie learned an expensive lesson last week about the importance of property rights. “Stealing is our biggest problem... Read more
The Vatican’s Monetary Wisdom
October 27 | Posted by mrossol | EconomicsBy ROBERT A. SIRICO On Monday, the Vatican released an 18-page document titled “Toward Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority.” Since then, it has been celebrated by advocates of bigger government the world over. What’s ignored is that the document—released to stimulate debate, not offer official doctrine—embraces a sound economic theory concerning the... Read more
You don’t say?!
October 16 | Posted by mrossol | EconomicsSpeaking before a group of protesters in Zuccotti Park, Nobel economics prize winner Joseph Stiglitz urged on the crowd, telling them they are “right to be indignant.” Professor Stiglitz goes on to explain, correctly in my view, that we have a financial system of socialized losses and privatized gains. What the good professor fails to mention is only a few years... Read more
