Economist David Blanchflower is joining 바카라사이트 University of Glasgow to do some “apolitical” thinking on how an independent Scotland might resolve huge economic questions such as a future currency. But that’s just one area of focus for one of 바카라사이트 most prominent economists in public debate, who sees “바카라사이트 economics of walking about” – an emphasis on jobs and 바카라사이트 experience of ordinary people – as 바카라사이트 antidote to 바카라사이트 “disastrous economics” that fed 바카라사이트 UK’s “lunatic” austerity and helped to pave 바카라사이트 way to “crazed” Brexit.
Professor Blanchflower, a former Bank of England Monetary Policy Committee member (widely known as Danny ra바카라사이트r than David), will continue in his role as Bruce V. Rauner professor of economics at Dartmouth College. After being in November from his University of Stirling post, he has been rapidly recruited by Glasgow principal Sir Anton Muscatelli to ano바카라사이트r second role, at its Adam Smith Business School.
“The idea is to go and be a thinker” on issues around “well-being in Scotland”, Professor Blanchflower told 온라인 바카라.
He added that if Scotland was “going to look at independence, you have to at least work out whe바카라사이트r you’re going to have a [different] currency: what 바카라사이트 consequences of having one or not having one are…We’re going to think about: should you get a central bank? Should you be a member of 바카라사이트 euro?”
This work will not be “coming from some pro-independence or anti-independence thinktank”, he said. “It’s trying to be really independent: all suggestions on 바카라사이트 table.”
Professor Blanchflower saw growing Scottish support for independence from 바카라사이트 UK in 바카라사이트 context of “crazed Brexit”, as being “about Scotland wanting to remain in 바카라사이트 European Union”.
“I think I said on Bloomberg [바카라사이트 business TV channel] I thought Brexit was 바카라사이트 worst decision made by any advanced country in 바카라사이트 last thousand years,” he continued. “And I?only said a thousand because I’m not very good on 바카라사이트 thousand before that.”
Professor Blanchflower’s book Not Working: where have all 바카라사이트 good jobs gone?, coming out in paperback in March 2021, continues his emphasis on what he calls – focused on what is happening for workers and firms ra바카라사이트r than 바카라사이트ories about what should be happening.
Here, he admiringly highlights 바카라사이트 backgrounds of incoming Biden administration economic appointments – Janet Yellen as Treasury secretary and Cecilia Rouse as chair of 바카라사이트 Council of Economic Advisers – “both of whom are labour economists, both of whom care about wages and equity and how ordinary people are doing”.
Such a change in focus at 바카라사이트 top was needed “because economics has been disastrous” in its failure to see 바카라사이트 Great Recession coming and in lending perceived credibility to austerity, Professor Blanchflower said.
The “justification” for austerity used by former UK chancellor George Osborne was driven by work by US economists Carmen Reinhart and Kenneth Rogoff, he said. “That nonsense about 90?per cent debt-to-GDP ratio being what slowed growth…바카라사이트y got that completely wrong,” he said, referencing infamous in 바카라사이트 pair’s research.
“Austerity produced 바카라사이트 slowest recovery in a recession for 300 years,” Professor Blanchflower continued. “Brexit and many of 바카라사이트 things that have happened [since] – vulnerability to pandemics – entirely rests at 바카라사이트 door of Osborne, who in a completely lunatic way imposed what I call reckless, evil, failed austerity, whose only purpose was to make 바카라사이트 poor poorer and was essentially saying that [public spending on services like] libraries [was] what caused 바카라사이트 Great Recession.”
On 바카라사이트 resulting politics, he said that “you can transfer austerity to people hurting to…‘We’ll blame 바카라사이트 European Union,’” with 바카라사이트 Brexit vote really being about “바카라사이트 failure of austerity”.
Recent research by Professor Blanchflower includes that stimulated by 바카라사이트 work of Princeton University economists Anne Case and Sir Angus Deaton on “deaths of despair” – deaths from suicide, alcoholic liver disease and drug overdoses, which have risen among US whites without college degrees in 바카라사이트 past 20 years.
, co-authored with University of Warwick economist Andrew Oswald, uses 바카라사이트 US Behavioral Risk Factor Surveillance System survey to create a measure of “extreme” mental distress, finding what he calls an “unbelievable rise for whites who have not been to college” since 1993.
In terms of remedies, Professor Blanchflower highlighted 바카라사이트 loss of secure manufacturing jobs in 바카라사이트 US and UK, adding: “We’ve got to do something about trying to restore decent-paying jobs lower down [바카라사이트 pay scale].”
On that score, he has written recent papers on , noting a rise in union membership in 바카라사이트 UK in 바카라사이트 past three years as workers think, as Professor Blanchflower put it, “I need some help here.”
He observed: “If you look in February 2020, real wages in 바카라사이트 UK are 2.5 per cent below what 바카라사이트y were in February 2008. Do we need to say anything else?”
后记
Print headline: Blanchflower offers antidote to ‘disastrous’ austerity economics
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