Posts Tagged ‘ Latvia ’

Latvia’s Economic Disaster as a Neoliberal Success Story: A Model for Europe and the US?

January 3, 2013
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by Jeffrey Sommers and Michael Hudson A generation ago the Chicago Boys and their financial supporters applauded General Pinochet’s anti-labor Chile as a success story, thanks mainly to its transformation of their Social Security into Employee Stock Ownership Plans (ESOPs) that almost universally were looted by the employer grupos by the end of the...

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Latvia No Austerity Success

June 25, 2012
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Jeffrey Sommers & Michael Hudson Cross posted from the Financial Times by permission of the authors Michael Hudson and Jeffery Sommers: a distinguished professor at the University of Missouri-Kansas City and associate professor at the University of Wisconsin-Milwaukee respectively, who have both advised members of Latvia’s government on alternatives to austerity. They are also...

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Rating Junk Economics

April 28, 2011
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Michael Hudson critiques austerity measures amidst the global preference for crumbling economies over taxing privilege. Ratings Agencies, German banks and user pays come under the microscope.

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Norway's Sovereign Wealth Risk Vortex

March 18, 2011
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What does Norway get out of its Oil Fund, if not More Strategic Infrastructure Investment? For the past generation Norway has supplied Europe and other regions with oil, taking payment in euros or dollars. It then sends nearly all this foreign exchange abroad, sequestering its oil-export receipts – which are in foreign currency –...

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The Spectre Haunting Europe

January 22, 2011
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There is an alternative, of course. It is for creditors at the top of the economic pyramid to take a loss. That would restore the intensifying GINI income and wealth coefficients back to their lower levels of a decade or two ago.

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Bankers: Go The 'Latvian' Option

December 26, 2010
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The “Latvian option” is the buzzword of the moment among European bankers and financial journalists. In October, the Latvian people voted in a coalition headed by the incumbent prime minister Valdis Dombrovskis, whose government had savaged social benefits, cut pay and inflated unemployment in 2009. Was this proof that austerity measures could not only...

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Financial Interests Dictate Sovereign Policy

December 18, 2010
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Interview with Michael Hudson, Eleftherotypia, Sunday December 12, 2010. 1. A recent article of yours, “Schemes of the Rich and Greedy,” cites the bailouts in Europe among such schemes. What are the main faults with bailouts, and for whom are they designed? The financial sector is trying to get politicians to siphon off money...

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From WikiLeaks to 21st Century Potato Famines

December 9, 2010
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Professor Hudson appeared on the Renegade Economists radio show in Melbourne, Australia last Wednesday. Listen

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Latvia’s Third Option

July 8, 2010
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Neither Devaluation nor Austerity, but Tax Restructuring A shortened version was published in today’s Financial Times. As Europe’s banking crisis deepens, Greece’s and Spain’s fiscal crisis spreads throughout Europe and the US economy stalls, most discussions of how to stabilize national finances assume that only two options are available: “internal devaluation” – shrinking the...

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Why Europe Can't Look After Itself

June 21, 2010
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Hudson’s latest interview with Bonnie Faulkner, discussing his recent venture to Latvia amidst Europe’s current troubles. Why have government’s suddenly forgotten how to finance themselves? Hudson on Guns N Butter, June 2010

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