In Berlin and Brussels the main care is about the reform of the labour market, to be achieved through the creation of an adequate industrial reserve army .An involuntary tribute to Karl Marx?
From the conquest of the space to internet, with their huge fallout, the role of the State for the progress of science and technologies was crucial; yet the opponents strenuously dispute and deny its role.
*Paper written for presentation at the “International Conference on Management and Economic Policy for Development”, Kozminski University, Warsaw, 10-11 October 2013.
In the last three years the IMF has revised upwards the size of fiscal multipliers. This has devastating implications: if the fiscal multiplier is greater than the inverse of the Public Debt/GDP ratio, fiscal consolidation necessarily raises instead of lowering the Public Debt/GDP ratio with respect to what it would have been without consolidation. This appears to be the case for all or nearly all of advanced countries.
