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Recent & Popular Posts
- Critiques of Edward Baptist
- Critiques of The History Manifesto
- Did inequality cause the First World War?
- Did the "Invisible Blockade" against Allende work?
- Economic growth in ancient Greece
- Fascism was not left-wing!!!
- Greece from Post-war orthodoxy to "Democratic Peronism"
- Ideology & Human Development (on Cuba's social development)
- Labour repression & the Indo-Japanese divergence
- Markets & famines: Amartya Sen is not the last word!
- Nazi political economy
- Random Thoughts on Robert Allen's theory of the Industrial Revolution
- State Capacity & the Sino-Japanese Divergence
- Sven Beckert's Empire of Cotton: A Reductionist Summary
- The Bairoch conjecture & the "tariff-growth paradox" of the late 19th century
- The Calico Acts: Was British cotton made possible by infant industry protection from Indian competition?
- The Napoleonic Blockade & the Infant Industry Argument
- Various posts on slavery
- Was slavery necessary for the Industrial Revolution?
- Where do pro-social institutions come from?
Language Posts
Category Archives: Financial Crises
Greece from Postwar Orthodoxy to “Democratic Peronism”
The roots of the present Greek crisis lie in the political transformation of the country during the 1980s. (Disclaimer: Although this post is about Greek fiscal behaviour, I am not taking Germany’s side. Lenders to the profligate are just as culpable as the borrowers.)
Posted in Financial Crises, Greece, Political Economy
28 Comments
The “Anthropology” of Financial Crises
Germany experienced little increase in unemployment during the Great Recession, and has found “internal devaluation” relatively easy and pain-free, unlike most other countries. Why ? Some observations on the role of social capital in financial crises.
