http://www.thomaspalley.com/?p=182 Economics for Democratic and Open Societies Thu, 23 May 2013 02:03:40 +0000 http://wordpress.org/?v=2.6 http://www.thomaspalley.com/?p=182#comment-142067 More on the spurious victory claims of MMT « elmsprogressivemedia Fri, 27 Jul 2012 03:05:35 +0000 http://www.thomaspalley.com/?p=182#comment-142067 [...] The global economy is suffering from severe shortage of demand. In developed economies that shortfall is explicit in high unemployment rates and large output gaps. In emerging market economies it is implicit in their reliance on export-led growth. In part this shortfall reflects the lingering disruptive effects of the financial crisis and Great Recession, but it also reflects globalization’s undermining of the income generation process. One mechanism that can help rebuild this process is a global minimum wage system. That does not mean imposing U.S. or European minimum wages in developing countries. It does mean establishing a global set of rules for setting country minimum wages. Read the rest of this entry » [...] [...] The global economy is suffering from severe shortage of demand. In developed economies that shortfall is explicit in high unemployment rates and large output gaps. In emerging market economies it is implicit in their reliance on export-led growth. In part this shortfall reflects the lingering disruptive effects of the financial crisis and Great Recession, but it also reflects globalization’s undermining of the income generation process. One mechanism that can help rebuild this process is a global minimum wage system. That does not mean imposing U.S. or European minimum wages in developing countries. It does mean establishing a global set of rules for setting country minimum wages. Read the rest of this entry » [...]

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