Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
The key is the structure of incentives to politicians in these difficult times, with Orban and Trump as prime examples.
1. Economic intervention is widespread (Covid, Energy crisis).
2. Many voters are afraid and angry, they want to be protected, they want strong leadership.
But a politician whose instincts are already authoritarian will find it too easy to move more and more in the authoritarian direction- state intervention in courts, in the press, in the economy. Hearing Meloni´s past speeches I find it hard to believe she will resist that urge.
Had a discussion with a colleague here on why do I worry about Meloni. He strongly disagreed: "her program is similar to the other right wing parties, nothing much will change etc. "
Short thread on why I do think we must worry.
With those economic emergency tools at their disposal, and that state of mind of many voters, good politicians resist the urge to encroach on our economic and poitical freedoms.
@ChuckPfarrer It would be good to make a thread with all the logos.
Wow. This is financial crisis speed of change. Note: this is US, not UK
RT @RebelEconProf: US 2YR. We have liftoff.
Fiscal theory of price level expert's veredict on unfunded tax cuts and wild spending promises of UK.
RT @ProfJiang: 3️⃣I worry that we are far from seeing the worst. The economy may find ways to re-enforce market clearing that are wilder than economists' wildest imagination.
Con su falta de respeto por las instituciones el Presidente del Gobierno sigue por el camino de intentar convertirnos en una república bananera.
Nice piece by @AndresVelasco on how UK become a developing country (increase in deficit creates worries about future, leads to depreciation), rather than developed (deficit leads to higher interest rates, capital inflows, appreciation).
https://www.project-syndicate.org/commentary/why-pound-sterling-is-falling-despite-higher-budget-deficit-by-andres-velasco-2022-09
Tomorrow at 6pm we will have an event on European Democracy viewed from the Inside at IAB @ColumbiaSIPA. Everyone at @Columbia welcome.
Registration: https://sipa.campusgroups.com/ceusa/rsvp_login?id=1798281&private_event=1
La lucha de las valientes iraníes merece las portadas de toda la prensa del mundo. #Mahsa_Amini
RT @libe: A la une de @libe ce lundi :
🇮🇷 «Femme, vie, liberté»
RT @voxeu: The war in #Ukraine has made clear that dependence on #FossilFuels entails large political costs. This column provides policy recommendations for reducing Europe’s fossil fuel dependence in the short and medium run.
@lugaricano, @dominic_rohner, @bweder
https://ow.ly/OiRS50KR9n5
RT @RALee85: The other issue with mobilization is that Russia deployed much of its Rogvardia SOBR and OMON troops who would play a key role in suppressing protests.
Mobilisation expected to have a dramatic demographic impact in Russia:
- 25% of Russian youth expected to be conscripted;
- more than half of them expected to be wounded or killed.
Thread.
RT @ChrisO_wiki: The Russian economists Maxim Mironov (@mironov_fm) and Oleg @itskhoki (of IE University and UCLA respectively) have published an important thread estimating the likely demographic impacts of mobilisation on Russia. A translation…
Western governments must help Ukraine develop an air defense against these terrorist attacks on innocent civilians. Please!
RT @Euan_MacDonald: Video of more Iranian kamikaze drones (Flying F*cking Balalaikas) loitering over Odesa this morning. Three hits on admin building in center, one drone shot down. Ukraine has for seven months been begging its allies to supply it with adequate numbers of modern air defense systems.
RT @shashj: “Kremlin’s theory of victory is likely that mobilisation will sufficiently prolong the war to enable its unconventional campaign of econ warfare, pol destabilisation, escalation threats & influence campaigns in Europe & US to cause Ukraine’s allies to force Kyiv to negotiate”
RT @Henry_Curr: @paulkrugman Isn't the mechanism "Unpleasant Monetarist Arithmetic"? The stimulus causes the BoE to raise rates further (markets now >5% rates in a year's time). But govt responds to rising debt service costs with still bigger deficits. Monetary policy then loses traction against inflation
RT @GuyVerhofstadt: Putin’s democracy: Ukrainians rounded up at gunpoint to vote whichever way he wants them to.
An obvious charade !
Insane.
RT @wvcaspel: Very sad day today.
Doel3 1000MW Nuclear power plant yearly producing close to 10% of Belgian electricity being shut tonight, for no good reason, in the middle of energy and climate crises, a perfect plant with minute footprint… 😢😤😭
RT @InstitutOstrom: 📣 Hemos ganado: el Consejo de #Transparencia obliga al Ministerio de Trabajo a publicar el informe sobre el impacto del #SMI en la intensidad laboral y desigualdad, encargado a @saradelarica.
Insta a difundirlo en un plazo máximo de diez días hábiles.
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
