Jobs and productivity in Spain, 2008-2012
In 2008 Spain had 20 million jobs. This number declined to 17 million – a decline which was almost completely due to the bust of the building boom. As construction has a relatively lower productivity average productivity increased because of the decline of building, just like in Ireland. Which means that variables like average productivity and average Unit Labour Cost may not be the best metrics to gauge the competitiveness of a country. And which means that export demand is not the only or even the most important kind of demand to solve the real Spanish problem (which is not debt but the loss of 3 million jobs). Investments in new sectors are needed. Like medical care for old, rich Germans.
Real World Economics Review
- blocke on Econometrics and the ’empirical turn’ in economics
- justaluckyfool on US student loan borrowers are increasingly struggling to repay their education debt (2 charts)
- erinmickey21 on How evidence is treated in macroeconomics
- Jim Cronin on US student loan borrowers are increasingly struggling to repay their education debt (2 charts)
- UniBank on The solitude of Latin America. Nobel lecture, 8 December 1982, Gabriel Garcia Marquez
- annekirtley2015 on Roman Frydman on the ‘rational expectations’ hoax
- Egmont Kakarot-Handtke on Accumulate, accumulate! Or not
- Blissex on Shareholders and Public Trust?
- Garrett Connelly on Global Warming and Secular Stagnation
- Nat Uerlich on Global Warming and Secular Stagnation
- wallflower on Roman Frydman on the ‘rational expectations’ hoax
- chdwr on Roman Frydman on the ‘rational expectations’ hoax
- Tom Walker on Roman Frydman on the ‘rational expectations’ hoax
- BC on Draghi’s “Shock and Awe”?
- Ishi Crew on Accumulate, accumulate! Or not
————— Michael Hudson ————–
Shimshon Bichler / Jonathan Nitzan
————— Mauro Gallegati ————
————– Lars Pålsson Syll ————
—— Paul D. Egan and Philip Soos —–
————— Herman Daly ————
————— Richard Smith ————
————— Steve Keen ————–
————— Jorge Buzaglo ————
————— Asad Zaman ———–
—————– C. T. Kurien ———
————— Robert Locke ————
Guidelines for Comments
• This blog is renowned for its high level of comment discussion. These guidelines exist to further that reputation.
• Engage with the arguments of the post and of your fellow discussants.
• Try not to flood discussion threads with only your comments.
• Do not post slight variations of the same comment under multiple posts.
• Show your fellow discussants the same courtesy you would if you were sitting around a table with them.
Top Posts and Pages- last 48 hours
- Econometrics and the ’empirical turn’ in economics
- US student loan borrowers are increasingly struggling to repay their education debt (2 charts)
- Accumulate, accumulate! Or not
- Roman Frydman on the ‘rational expectations’ hoax
- Reflections on the “Inside Job”
- Summary of the Great Transformation by Polanyi
- Draghi's "Shock and Awe"?
- How evidence is treated in macroeconomics
- What is Post Keynesian Economics?
- How to get published in ‘top’ economics journals
Edward Fullbrook and Jamie Morgan
Maria Alejandra Madi / Jack Reardon
RWER Board of Editors
Nicola Acocella (Italy, University of Rome) Robert Costanza (USA, Portland State University) Wolfgang Drechsler ( Estonia, Tallinn University of Technology) Kevin Gallagher (USA, Boston University) Jo Marie Griesgraber (USA, New Rules for Global Finance Coalition) Bernard Guerrien (France, Université Paris 1 Panthéon-Sorbonne) Michael Hudson (USA, University of Missouri at Kansas City) Frederic S. Lee (USA, University of Missouri at Kansas City) Anne Mayhew (USA, University of Tennessee) Gustavo Marqués (Argentina, Universidad de Buenos Aires) Julie A. Nelson (USA, University of Massachusetts, Boston) Paul Ormerod (UK, Volterra Consulting) Richard Parker (USA, Harvard University) Ann Pettifor (UK, Policy Research in Macroeconomics) Alicia Puyana (Mexico, Latin American School of Social Sciences) Jacques Sapir (France, École des hautes études en sciences socials) Peter Söderbaum (Sweden, School of Sustainable Development of Society and Technology) Peter Radford (USA, The Radford Free Press) David Ruccio (USA, Notre Dame University) Immanuel Wallerstein (USA, Yale University)
- Lewis L. Smith
- Kevin P. Gallagher
- Steve Keen
- Deniz Kellecioglu
- David F. Ruccio
- Peter Dorman
- Edward Fullbrook
- Jim Stanford
- Mark Weisbrot
- paul davidson
- Juan Pablo Pardo-Guerra
- Peter Earl
- paul ormerod
- Peter Earl