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Daniela Gabor Profile picture
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Mar 1 • 6 tweets • 2 min read
decades in weeks.
and the week UCU is on strike, so I cant comment the pluuuumbing :)
I can tweet about the @ucu strike fund - remember Maggie Thatcher gave employers the upper hand to confiscate pay for each strike day, so academics are taking home half of their pay this month.

be generous, it's mostly junior academics striking because they're taking the hit, and because senior academics, with notable exceptions, are more enthusiastic about denouncing fence sitting in Ukraine
#skininthegame
Ditum

While you're at it, don't stop at Russian oligarchs with your concern for ilicit financial flows

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More from @DanielaGabor

Daniela Gabor Profile picture
Mar 4
fascinating @adam_tooze on whether we'll see Russia abandon its Wall Street Consensus macrofinancial regime - fiscal austerity, floating exchange rate, domestic bond finance - that it deployed to accumulate a foreign reserves war chest.

adamtooze.substack.com/p/chartbook-91…
first, the constraint of market access - so very familiar to poor & middle income countries negotiating Debt Service Suspension Initiative - is gone.

if you dont care what foreign investors think of your macro stance, the world is your oyster. Image
your oyster as in you can:
1. Choose to reorient your macro choices towards aggressive short-run stabilisation
2. Bring back developmental state that aims to structurally change your economy

both require an ideological cover, and MMT can offer that Image
Read 8 tweets
Daniela Gabor Profile picture
Mar 3
if you were hoping that the silver lining of Russia's aggression is a new macrofinancial regime in Europe, sorry to disappoint.

the freshly minted revision to the European 'green, digital resilient and inclusive' Growth model is a lot more of the same
ec.europa.eu/info/sites/def…
first, you want to window-dress the malfunctioning of the 'austerity first, mobilise private capital next' model - hello secondary axis. Image
the macro information wars - a slap in your incredulous face

Read 8 tweets
Daniela Gabor Profile picture
Feb 27
oh, now that you ask Germany, how about rewiring the macrofinancial consensus that is not even working for you, let alone Europe?
1. set the Maastricht sacred cows free, forever out of sight
2. let @ecb work closely with governments to protect fiscal space
3. drop the 'mobilisation of private investment' language, time to discipline financiers into doing what we want, instead of bribing them.
if there is some silver lining in this super depressing glorification of war/arms etc, let it be this one

Read 4 tweets
Daniela Gabor Profile picture
Feb 25
if your macro narrative is 'well done Germany, your balanced budgets have created the fiscal space you need now to deal with geopolitical challenges posed by Russia' - your austerity ideology is blinding you to the obvious
my bet - European Commission will embrace this narrative next week and double down on its Carbon Contracts for Difference strategy of derisking private investments in decarbonisation, ignoring the painful lessons from Germany's Energiewende
have spent this week in class discussing a 2009 Lin vs Chang debate on industrial policy that goes at the core of the decarbonisation debate - what do we mean when we discuss the revival of industrial policy?

onlinelibrary.wiley.com/doi/10.1111/j.…
Read 5 tweets
Daniela Gabor Profile picture
Jan 27
want to understand the incoming Age of Institutional Landlords - minting assets out of your houses - and the state's role in it?

our new report 'My House is an Asset Class' w @sebastianmkohl for @GreensEFA has (nearly) all the answers

extranet.greens-efa-service.eu/public/media/f…
first, institutional landlords are not just notorious private equity firms like Blackstone, but your pension fund, insurance companies, family offices and endowments, cash-rich multinational corporations, Sovereign Wealth Funds and asset managers - a glut of institutional capital
institutional capital targeting European housing is large, a portfolio glut ready to deploy trillions if it can find houses to purchase at scale
Read 24 tweets
Daniela Gabor Profile picture
Jan 19
oh look @nssylla Macron Doctrine en marche!!!
the #GlobalGateway strategy seeks to 'unleash' EUR300 bn for infrastructure investments around the world based on 'values, transparency and sustainability'
values first infrastructure is a new one:

wonder what values embodied by (German) Compact with Africa push for PPPs in health or education that force user-fees and de-facto privatisation of social infrastructure
Read 6 tweets

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