The single most important fact about the UK economy is that its productivity—and by extension its real wages—has remained almost flat since 2008. The chart plots real wages in four countries before and after the financial crisis. Germany, once derided as Europe's "sick man," saw wages stagnate in the early 2000s but recover steadily after … Continue reading Whatever Happened to UK Productivity?
Category: Uncategorized
Walras’ Road to Objectivity
Offering advice on which are the public’s most fortuitous gambles is a key responsibility for applied economists. But which economist should the public listen to? Revealing individual prediction records could go a long way to tell muddled and realistic thinkers apart.