giovedì 25 febbraio 2021

A delightful read

 

 Recensione su Brave New Europe Grazie Mat!

Heterodox Challenges in Economics by Sergio Cesaratto

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Book Review by Mathew D. Rose

I never thought that I would describe an economics book as “a delightful read”, but “Heterodox Challenges in Economics” by Sergio Cesaratto is exactly that. It is well written, often entertaining and humorous, and explains a great deal about political economy, which is then applied in an analysis of the economic difficulties of the EU and euro zone. The book was published in 2020 and includes the beginnings of the COVID crisis, in otherwords is very up to date.  

mercoledì 10 febbraio 2021

Intervista


DRAGHI: cosa aspettarsi dal nuovo governo? - Prof. Sergio Cesaratto - Le interviste di Money.it

 

lunedì 8 febbraio 2021

Intervista su Brave New Europe

 

  Thanks to my friend Mathew Rose, uno strano americano a Berlino.

Interview with Sergio Cesaratto: Draghi and the Italian Melodrama

Sergio Cesaratto is Professor of Growth and Development Economics and of Monetary and Fiscal Policies in the European Monetary Union, University of Siena. Many of the topics of this conversation are developed in his latest book: Sergio Cesaratto, Heterodox Challenges in Economics – Theoretical Issues and the Crisis of the Eurozone, Springer, 2020, http://www.springer.com/9783030544478 that will be reviewed on BRAVE NEW EUROPE in the near future.

Image result for mario draghi merkel

Can we say that the “Vincolo Esterno”, the neo-liberal EU straitjacket Italy’s oligarchy and technocrats imposed on their nation, has failed or has it achieved the success they sought – or has it done both?

Both. It succeeded in the sense that an icy discipline descended on the working classes, trade unions and fiscal policy. It failed in the sense that discipline brought with it the stalling of growth, later aggravated by the 2008 crisis and the pandemic. Many foreign readers do not know that Italy has a record of discipline in public accounts, measured by budget surpluses net of interest expenditure, unbroken from 1991 until the pandemic. This, together with the loss of a competitive exchange rate, has led to stagnating productivity and growth in Italy since 1995. Public debt was reduced from 120 to 100 % of GDP before the 2008 crisis. But at a very high price (cuts make growth less and nullify the budgetary effects of cuts in a Sisyphean effort). No country in Europe has been as frugal as Italy (read https://www.ineteconomics.org/research/research-papers/lost-in-deflation). Moreover, private debt is very low in Italy, Italian households are also frugal, contrary to what is portrayed in Northern European media.

giovedì 4 febbraio 2021

Next degeneration EU (in Italiano)

 

Ecco la versione italiana, invero un po' logorroica, del pezzo sul NGEU. Grazie a economiaepolitica.it

Next degeneration EU

Sergio Cesaratto

 Il cosiddetto Recovery Fund è il Convitato di pietra della crisi di governo, come scusa di litigio od oggetto di appetito politico. La sua importanza è solo relativa, date le sue ridotte dimensioni finanziarie, la sua tempistica inadeguata, l’impronta europea sui contenuti ben lontana da una organica politica industriale per il continente, i contenuti sociali sospesi fra ipocrisia, demagogia e velleità. Il Recovery Fund appare così inadeguato sia come sostegno alla domanda aggregata che alla capacità industriale italiana (ed europea).

Avanzeremo qui alcune osservazioni sul documento del governo italiano (Piano di Ripresa e Resilienza dell’Italia, PNRR - 12 gennaio 2021) [1] ricordando che Il Piano dovrà essere presentato in via ufficiale entro il 30 aprile 2021.

mercoledì 3 febbraio 2021

The Next EU Degeneration

 

Pubblicato da Brave New Europe, a breve la versione italiana.

Sergio Cesaratto – The Next EU Degeneration

The Next Generation EU programme is full of pitfalls for many EU nations, as here in Italy.

Sergio Cesaratto is Professor of Growth and Development Economics and of Monetary and Fiscal Policies in the European Monetary Union, University of Siena. His newest book,Heterodox Challenges in Economics – Theoretical Issues and the Crisis of the Eurozone” was recently published by Springer

The original, longer version in Italian was posted by economica e politica

The European Next Generation EU (NGEU) recovery plan to deal with the economic crisis resulting from the pandemic is the uninvited, imposing guest causing the present Italian government crisis, as an excuse for quarrelling or as an object of political diversion. I shall make some observations on the resigning government’s Recovery and Resilience Plan (Piano di Ripresa e Resilienza dell’Italia, PNRR), sure that any future government will not change much of its substance.

lunedì 1 febbraio 2021

Recensione a Heterodox Challenges in Economics

 Recensione di Paolo Paesani (Uniroma 2 Tor Vergata) su Eticaeconomia a

Sergio Cesaratto, Heterodox Challenges in Economics
- Theoretical Issues and the Crisis of the Eurozone, Springer, 2020
Scritto da:

In queste settimane, i paesi membri dell’Unione Europea stanno definendo i rispettivi piani d’investimento nell’ambito del NextGenerationEU. Dal successo di questi progetti dipende il consolidamento dell’economia e del modello sociale europeo e la ripresa dell’integrazione europea su basi di rinnovata fiducia. Almeno questo è l’auspicio, a fronte di un’emergenza pandemica che ha trovato l’Europa divisa, preda di rivendicazioni contrapposte, e con disuguaglianze crescenti. Tale situazione è il risultato di molteplici cause, in parte strutturali, in parte legate agli effetti della crisi dei debiti sovrani che ha coinvolto alcuni paesi dell’eurozona tra il 2011 e il 2012, a partire dalla Grecia.