Monthly Archives: February 2015

This summarises a Sunday afternoon conversation with Roger Farmer on Twitter. Apologies for multiple drafts and no links: this is one- fingered on an iPhone from hospital. Roger has a new microfounded macroeconomic theory that has the prediction that the … Continue reading →

Andrew Sentance tweeted: ‘If Greece now “insolvent” why was UK not “insolvent” in 1945? Public debt/GDP = 200%+ http://www.res.org.uk/view/article5jan12Correspondence.html … 25 yrs later was <70%!’ The answer is:  it was insolvent.  The Marshall Plan amounted to roughly £3.3bn pounds over just … Continue reading →