Three Approaches to the Economic Crisis (tags)
Before 1980, wages, productivity, investments and production pushed one another and ensured general prosperity. After 1980 wages were dropped as a driving force of economic demand. Demand gaps were filled by consumer credits.
The High Risk Business of Banks (tags)
The model of financial market capitalism collapsed with the greatest crisis of the financial markets since the worldwide economic crisis at the end of the 20s. The enormous accumulation of financial assets was based on redistribution of incomes continuing for 30 years.
Equal distribution and good economy belong together! (tags)
If a lie is repeated often enough it turns into truth. Neoliberal economists with Nobel Prizes in their knapsacks have hammered into our policymakers’ heads that we need widened income gaps (“a more flexible income spread”) in the developed world as well as in the developing world. A simple but powerful analysis shows that they are wrong and that we should not increase gaps for better economic performance.