The Inflation Problem: Short-, Medium- and Long-Term Solutions
In principle, it is the task of central banks to anticipate and combat inflationary risks. But since central banks failed to recognize inflationary pressures for a long time and then downplayed them as temporary, they can no longer contain inflation in a hurry. What solutions are feasible?
Low Interest Rate Policy Cripples the Economy and Reduces Prosperity
Japan’s low interest rate policy began 30 years ago, about 15 years earlier than in the EU. But three decades of low interest rate policy meant three lost decades for Japan. In an interview with Stefan Beig, economist Gunther Schnabl explains why the low interest rate policy is so damaging to prosperity.
Rescuing Businesses during the Coronavirus Crisis Accelerates the Path to a State-Run Economy
The lockdown has accelerated the onset of the financial crisis. Global rescue programs are opening the door to a creeping nationalization. We now face the threat of the kinds of restrictions found in former planned economies.