Tag Archives: structural reform

An enduring myth among mainstream economists is that so-called ‘structural’ impediments in the labour market prevent aggregate spending initiatives from government being an effective solution to mass unemployment. According to this view, if the government attempts to reduce the unemployment rate below some ‘natural rate’ then accelerating inflation will be the only outcome. The ‘natural rate’ can, in turn, only be reduced by structural policies – attacks on trade unions, welfare state...

Not a bad article considering that Project Syndicate is an organ of the corporate elite. The author does recognize that the economic protest is the result of President Rouhani's neoliberal program to deliver the promised increase in prosperity that neoliberals assume to be widely distribute by trickle down. So, even though the article is written from the neoliberal point of view, it does admit the failure of neoliberal reformers to deliver on their promises to the country as a whole,...