Thursday, October 9, 2008
FT's Martin Wolf agrees with me!
I admire Martin Wolf but often have bones to pick. Today on page 13 of he FT he devotes a whole page to the global big picture that entirely agrees with my views as expressed in many of the 88 blogs below (see: www.businessspectator.com.au/bs.nsf/Article/Asias-revenge-K8TBB?OpenDocument&src=sph.)
I say mine, but my view is based for the global aspects on predictions going back some 5 years by Prof. Wynne Godley, Francis Cripps and Alex Izurieta. Wolf may read my blogs but he also read Godley's "Is the 2007 US subprime financial crisis so different? An international historical comparison. Working paper 13761, www.nber.org and "The US economy: Is there a way out of the woods? November 2008. www.levy.org. Equally important are the papers of Francis Cripps and Alex Izurieta who have worked with Godley for years. Cripps and Godley ran the famous Cambridge Economic Policy Group, which Wolf would not have instinctively agreed with in the past, but appears to be doing so now (for references see my blog "It's the economy stupid!" some pages below.) Wolf's own book "Fixing Global Finance" is published this month by John Hopkins University Press and Yale University Press.