Dan Monaco interviews Peter Temin for The Straddler

Thinking Through the Savage Machinery: Peter Temin and Economic Crises

The problem of insufficient aggregate demand in America and Europe needs to be solved by an expansion of government spending. This means putting policies of fiscal austerity on hold and even temporarily reversing them. Debt problems of various sorts need to be managed to make this possible. Hegemonic leadership will be needed to set us on this course both internationally and in the United States and the Eurozone. The destabilizing [i.e., export-led] policy of Germany needs to change into one of domestic expansion to complement expansion in the Eurozone as a whole. And the destabilizing policy of China needs to change into one of domestic expansion to complement expansion in the West.[29]

Temin and Vines clearly hope that policymakers are among the readers of The Leaderless Economy

Policymakers don't read books; they read briefs prepared by their advisers

Lawrence Summers: Strategies for sustainable growth - The Washington Post

Lawrence Summers: Strategies for sustainable growth - The Washington Post

George Soros maps the terrain of a global economy that is increasingly shaped by China. - Project Syndicate

George Soros maps the terrain of a global economy that is increasingly shaped by China. - Project Syndicate

the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99

the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99

the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99

the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99

the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99

‘Civic Capitalism’: introducing a new model of capitalism (pt.1)

‘Civic Capitalism’: introducing a new model of capitalism (pt.1)

Blanchard, Griffiths, Gruss on Latvia and the EZ

BPEA Fall 2013: Hard to Draw Wider EU Lessons from Latvia’s Economic Policies Post-Financial Crisis

In spite of the fact that Latvia is a small country, it has been an object of intense attention during the financial crisis because of the economic policies it put in place to get its economy back on track. By maintaining its currency peg, adjusting through internal devaluation and front loading fiscal austerity, this nation of 2 million is now, 5 years later, back on a strong economic footing, although it may have been quite painful to get there.

Markit Eurozone Manufacturing PMI

http://www.markiteconomics.com/Survey/PressRelease.mvc/b2dfe04a4c1e4e71802d7338b698602f

There was even relatively positive news from

Greece, where higher levels of output and new

orders elevated its PMI to a 52-month high and

close tothe 50.0 stabilisation point.

Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten; by Carmen M. Reinhart, Kenneth S. Rogoff; IMF Working Paper No. 13/266; December 2013 - wp13266.pdf

Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten; by Carmen M. Reinhart, Kenneth S. Rogoff; IMF Working Paper No. 13/266; December 2013 - wp13266.pdf