Joseph Pearlman's picture
Affiliation: 
City University London
Credentials: 
Professor of Economics

Voting history

Juncker's State of the Union Address

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Question 2: Do you agree that the euro has had more benefits than costs?

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Answer:
Neither agree nor disagree
Confidence level:
Very confident
Comment:
Transactions costs have obviously been lower, but one interest rate for all is never going to be ideal unless, as in the US, there is fiscal federalism.

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Question 1; Do you agree that euro membership should be compulsory for all EU member states?

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Answer:
Strongly disagree
Confidence level:
Very confident
Comment:
The UK's experience of not being a member of the euro while being in the EU was very positive. From a different perspective, Greece might well have benefited from still having the drachma, while being part of the EU.

Wages and economic recoveries

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Question 1: Do you agree that lower real wage growth was beneficial for employment levels during the Great Recession?

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Answer:
Agree
Confidence level:
Extremely confident
Comment:
Lowered real wage growth is almost inevitable in a recession, and in principle should act as an automatic stabilizer to bring the level of employment up to its pre-crisis level.

A “new” UK industrial strategy ?

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Question 2: Do you agree that the UK needs a new regional policy?

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Answer:
Agree
Confidence level:
Very confident
Comment:
This needs to be addressed taking into account all other decisions that are being made. For example, many people are sceptical about the spending on HS2, as it is likely to benefit London overwhelmingly, and is likely to detract from the success of regional industrial zones.

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Question 1: Do you agree that the UK needs a new industrial policy?

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Answer:
Agree
Confidence level:
Confident
Comment:
With the advent of Brexit, it seems that the UK is slightly at risk with regard to financial services, so now is the time for government to collaborate with industry to help identify the obstacles that Rodrik suggests are critical for the development of other industries.

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