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Early in 2015 the European Central Bank (ECB) committed to a course of Quantitative Easing (QE) for the Eurozone, committing 60bn Euros a month to the zone’s faltering economy until September 2016.
Many people are baffled by 'quantitative easing' and its impact on troubled economies. Yet, QE has been widely adopted by central banks in the last few years to boost demand, output and employment, and to escape the macroeconomic malaise that has afflicted the advanced industrial countries during and since the Great Recession of 2008 - 10.
The European Central Bank’s adoption of a QE programme follows similar action by the Federal Reserve, the Bank of Japan and the Bank of England.
You can read Professor Congdon's analysis here.
The UK Government Spending Ratio: Back to the 1930s?
Public spending will be at levels of Gordon Brown, says Politeia's new economic spending analysis
David B. Smith
As the debate over reductions to Government spending ratios looks set to dominate the electoral campaign, Politeia’s analysis by the economist, David B. Smith*, considers what the figures for public spending really are.
In The UK Government Spending Ratio: Back to the 1930s?, David B. Smith shows that the changes to accounting procedures and the measures officially used to report public spending ratios tend to underestimate levels of public spending. In particular, the new European rules which have just come into force (ESA 2010) make a like for like comparison difficult to establish. To this problem must be added the further complication of what is, or is not, included by government for calculating public spending.
Magistrates Work! Restoring Local Justice
The political parties are now in general election mode for the 2015 election. The country has been warned that more cuts are on the way to tackle the levels of deficit which remain. The question for many will be how can the principles on which justice rests be maintained despite economic stringency?
In Politeia's new publication, Magistrates Work!the authors* take stock of the consequences of the closure of magistrates courts before and since 2010, including the damage to access to justice, transparency and rising costs.