Austeritate zaleek odol gehiago eskatzen dute[1].
Wray Berlinen egon da, Deutsche Bank-ek antolaturiko konferentzia batean, Debt, Deficits and Unstable Markets izenekoan[2].
Randall bankuen zereginetan aritu da, hitzaldia diapositibatan azalduz[3].
Hitzaldian, Eurolandiaren eraketaz aritzean, erabilitako Chicagoko neoliberalen teoria salatu ondoren, hauxe dio Wray-k: Eurolandiako teorilariek eta politikariek ez zuten ulertu finantza fluxuak, gehien batez, aktibo finantzarioen jabetzeari lotuta zeudela ez merkataritza fluxuei[4].
Eurolandiako estatu kideak beren artean lehiatu ziren auzokoei esportatzeko. Lehia horretan Alemaniak irabazi zuen, politika deflaziogilearen bitartez[5].
Ondorioa ezaguna da: austeritatea nonahi[6].
Alta, Eurolandiak behar duena, lanpostuak dira[7].
[1] Ikus http://www.economonitor.com/lrwray/2012/12/06/as-global-growth-slows-austerians-demand-more-blood-letting/.
[4] Ingelesez: “… the problem was that neither macroeconomic theorists nor Euroland policy makers understood that financial flows are mostly related to ownership of financial assets rather than to trade flows. That’s what “financialization” or what Minsky called “money manager capitalism” is all about.”
[5] Ingelesez: “…the EMU was set up to foster competition among the member states to see who could export the most to neighbors. Germany won. How? Through painful deflationary policies to keep wages in check, assisted by the fortune of the fall of the Berlin Wall that brought in waves of low wage and high skilled East Germans to the labor force.”
[6] Ingelesez. “And so now Germany chastises the hapless Greeks, Italians, Spanish and Portuguese (…). The proposed solution is austerity everywhere. The inevitable outcome will be race-to-the-bottom dynamics to slash wages and living standards.”
“Here’s the most important conclusion. If you want to create a monetary union, you need to forget the internal current account outcomes and focus instead on employment. The trade flows all take place in the same currency and can always be financed. Internal deficits are sustainable. But unemployment is not.”
[7] Ingelesez: “Euroland needs jobs, not austerity.”
