Barry Eichengreen

Why was there so much work-sharing in the 1930s? One reason is that government pushed for it. In his memoirs, President Herbert Hoover estimated that as many as two million workers avoided unemployment as a result of his efforts to promote work-sharing.

“Why was there so much work-sharing in the 1930s? One reason is that government pushed for it. In his memoirs, President Herbert Hoover estimated that … Read More

The consequences of a collapse would not be pretty. Whichever country precipitated it – Germany by threatening to abandon the euro, or Greece or Spain by actually doing so – would trigger economic chaos and incur its neighbours’ wrath.

“The consequences of a collapse would not be pretty. Whichever country precipitated it – Germany by threatening to abandon the euro, or Greece or Spain … Read More

For those unfortunate enough to experience it, long-term unemployment – now, as in the 1930s – is a tragedy. And, for society as a whole, there is the danger that the productive capacity of a significant portion of the labour force will be impaired.

“For those unfortunate enough to experience it, long-term unemployment – now, as in the 1930s – is a tragedy. And, for society as a whole, … Read More

Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe’s fiscal, banking, and monetary union.

“Political union means transferring the prerogatives of national legislatures to the European parliament, which would then decide how to structure Europe’s fiscal, banking, and monetary … Read More