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The Monetarist Fantasy Is Over (Project Syndicate, 4 min read) Robert Skidelsky views the recent forced resignation of UK Chancellor Sajid Javid as part of the wider shift from monetary to fiscal policy, with Javid seen as standing in the way of the Prime Minister’s spending ambitions. This increasing shift towards fiscal policy needs strengthened fiscal stabilisers.
Good U.S Monetary Policy Can’t Fix Bad U.S. Fiscal Policy (Washington Centre for Equitable Growth, 11 min read) Historically low levels of US unemployment with muted inflationary pressures points to an appropriate stance for monetary policy. Fiscal policy, by contrast, is hampering the US economy with needed investment into infrastructure and research absent.
Is the US an Outlier on Health Care Spending? (Library of Economics and Liberty, 2 min read) The 17% of GDP in US healthcare spending partly reflects inflated costs related to the insurance system rather than higher spending compared with other rich countries.