How should we think about the real limits to government spending for the times ahead?🏛️💸. `The General Relativity of Fiscal Space', our article with @jacob_assa attempts an answer. Open Access @ReviewofPE: Data & Appendix:

The usual needs will be brought up. It is not rocket science. But there will always be a politician or bureaucrat, slaves to some economist or other, who pretend that the availability of money is rocket science [. when in fact money comes into being through legislation] 🔚.

The key question is how to unite groups of people with increasingly individualistic claims. What are those critical common denominators that fall on a spectrum of how abundantly they are held across the population?🤔. Maybe give those who know scarcity a seat at the table. .

The demise of unions and the church have made working class representation in national policymaking even more of a pipe dream, and political abstention more of a reality. Without active effort to redress this, social democracy will never be effective at what it intends. .

Their narratives can be reconciled from the key recognition that goes unaddressed: the lack of poor/working-class representatives in between-country governance (UN GA has no power) and within-country governance (parliaments). It is harder to legislate what you don't experience. .

Last week @SASE_Meeting, @Aidan_Regan moderated a critical discussion on democracy between Michèle Lamont and Wolfgang Streeck. Michèle emphasised subjective recognition claims (dignity), Wolfgang objective claims (materiality), of the disadvantaged. 🧵.

@FT @UNCTAD @UNDP @UNDESA @jacob_assa @lauraabcarvalho ⚠️Such endogenous finance mechanisms in LDCs require:. ➡️strengthening domestic currency markets.↪️developing monetary sovereignty.↪️reducing inequality in national wealth, income and savings .↪️an aligned political economy coalition within and between countries.

@FT @UNCTAD @UNDP @UNDESA @jacob_assa @lauraabcarvalho ↪️"When MDBs take early risk – by injecting equity or subordinated debt into NDBs – they can unlock domestic savings, attract pension-fund investment, and create project pipelines that are grounded in national development strategies, rather than donor preferences"

@FT @UNCTAD @UNDP @UNDESA @jacob_assa "Mobilizing capital". "billions into trillions". etc all fail because they rely on external credit ratings and external borrowing. Empowerment means giving countries their own space and tools to build. Nice call by @lauraabcarvalho for NDB empowerment.

✅Letter: Multilateralism remains the best path to prosperity via @ft. ⚠️Country ownership of development finance will not be realised without changing the lens of fiscal space. 🔎Paradigms --> Measures --> Policies. #FfD4 @UNCTAD @UNDP @UNDESA

RT @DEHES_UNIGE: For the upcoming conference on "Ecological Planning in the Anthropocene" at the University of Geneva next September (25-26….

RT @BrankoMilan: Worth reading. It could happen that Atlanticism, created in America, dies in America but continues its life in Europe.

“Son varios los gobernantes europeos que no piensan llegar al 5%, pero sólo uno lo ha dicho en voz alta.”.

🇨🇭.Treasury to cut spending: Central bank cuts rates: 🤔 Complicated policymaking indeed

Happy #bloomsday2025 . #leopoldbloom #dublin #ulysses #joyce

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Not to forget that paradigms of *fiscal space* rest on the geopolitics of global trade and currency relations and vice-versa! . To do differently you have to see differently. The lens matters. A plug to our article w/ @jacob_assa in @ReviewofPE .

RT @DEHES_UNIGE: The doctoral summer school of conflict in the history of capitalism continues today with a keynote by Vanessa Ogle @vaness….

Geoffrey Hodgson on what capitalism *is* @DEHES_UNIGE doctoral summer school of conflict in the history of capitalism with @PSEinfo @EHESS_fr @UCarlosIII

Summer School starting today for the whole week @DEHES_UNIGE . *Conflict in the History of Capitalism*.

RT @DEHES_UNIGE: The doctoral summer school starts this afternoon in Geneva with an opening keynote by Geoffrey Hodgson @g_m_hodgson !.See….