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Dead Economic Dogmas Trump Recovery: The Continuing Crisis in the Eurozone Periphery

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  • C. J. Polychroniou

Abstract

The "happy talk" emanating from eurozone officials regarding the economic crises in the periphery deserves some vigorous pushback. Focusing on the four bailed-out countries of Greece, Ireland, Portugal, and Spain, Research Associate and Policy Fellow C. J. Polychroniou argues in this policy brief that, contrary to the burgeoning optimism in official communications, these countries' economies are still not on track for vigorous, sustainable recoveries in growth and employment--and that there is nothing surprising in this result.

Suggested Citation

  • C. J. Polychroniou, 2014. "Dead Economic Dogmas Trump Recovery: The Continuing Crisis in the Eurozone Periphery," Economics Public Policy Brief Archive ppb_133, Levy Economics Institute.
    • Handle: RePEc:lev:levppb:ppb_133
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    References listed on IDEAS

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    1. Dimitri B. Papadimitriou & Michalis Nikiforos & Gennaro Zezza, 2014. "Prospects and Policies for the Greek Economy," Economics Strategic Analysis Archive sa_feb_14, Levy Economics Institute.
    2. L. Randall Wray, 2007. "Minsky's Approach to Employment Policy and Poverty: Employer of Last Resort and the War on Poverty," Economics Working Paper Archive wp_515, Levy Economics Institute.
    3. Lane, Philip, 2011. "The Irish Crisis," CEPR Discussion Papers 8287, C.E.P.R. Discussion Papers.
    4. C.J. Polychroniou, 2012. "Neo-Hooverian Policies Threaten to Turn Europe into an Economic Wasteland," Economics Policy Note Archive 12-01, Levy Economics Institute.
    5. John Quiggin, 2012. "Zombie Economics: How Dead Ideas Still Walk among Us: With a new chapter by the author," Economics Books, Princeton University Press, edition 1, number 9702.
    6. Thomas I. Palley, 2013. "Europe´s crisis without end: The consequences of neoliberalism run amok," IMK Working Paper 111-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    7. Blyth, Mark, 2013. "Austerity: The History of a Dangerous Idea," OUP Catalogue, Oxford University Press, number 9780199828302.
    8. Pavlina R. Tcherneva, 2014. "Full Employment: The Road Not Taken," Economics Working Paper Archive wp_789, Levy Economics Institute.
    9. William Mitchell & Joan Muysken, 2008. "Full Employment Abandoned," Books, Edward Elgar Publishing, number 1188.
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    Cited by:

    1. Ines Kersan-Škabić, 2016. "Is Internal Devaluation Policy In The Eu Effective?," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 61(211), pages 29-46, October -.

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