Aristotle warned against a ‘missing middle’ in logic (Gk Mesos – middle; intermediate). This paper submits that one of the reasons why there has been next no major breakthrough in macroeconomics since the financial crisis of 2007-2008 has been a missing middle in the micro-macro syntheses of mainstream economics, constrained by partial and general equilibrium premises. It...
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Gordon Brown, in his narrative of the banking crisis (‘Nothing short of chronic recklessness powered by unchecked greed…’, 7 December), portrays himself as the man who got angry with the bankers, but the question remains: is he redressing the power balance between national states and a globalised financial system? For Brown, the postmortem on Lehman...
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The Global Policy Institute is a research institute on international affairs. It is based in the City of London, and draws on both a rich pool of international thinkers, academics as well as policy and business professionals. The Institute gives non-partisan guidance to policymakers and decision takers in business, government, and NGOs.