The global economic recovery continues as all of the most important economies in the world are on track for growth. Europe is the laggard and the tepid recovery there could still stall out. Below are some brief ideas on where this is headed and why.
I am going to try to make this as brief as possible, but here are a few ideas. Let me frame the ideas with an interesting piece I read at the BBC on the views of Joseph Stiglitz on the reasons this recovery has been so difficult. Here’s the characterization of what Stiglitz said that resonated with me.
Stiglitz maintains that those sorts of inequality figures are the main impediments to economic growth. The rich pay less tax, so higher inequality depresses tax receipts. Also, most importantly, the poor consume more of their income than th...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.