The Bolivian Fairy Tale – The Illusory Success of “21st Century Socialism”
For years Bolivia was considered a successful example of the “Socialism of the 21st century”. An apparently booming economy blinded economists and politicians and obscured the view of a regime that was in reality authoritarian and corrupt.
For Eurozone Countries, the Problem Is Not So Much the Coronavirus, but Italy
The Italian people are hardworking, noble, and clever but held back by their own decadent institutions. With no end in sight, this mess hurts the entire European monetary union. It would be better for Italy and the other eurozone nations if Italy had an orderly departure from the euro.
The Euro Illusion: From a Project of Integration to a Green Planned Economy
At first it seemed as if the new President of the European Central Bank (ECB) Christine Lagarde would simply continue the loose monetary policy of her predecessor. But now she has announced a green policy shift. This marks the beginning of a whole new act in the euro drama.
Philipp Bagus: “The Fear of Deflation Is Unfounded”
Many economists, policymakers, and central banks are afraid of deflation. Generally speaking, they do not even distinguish between different causes of price deflation—i.e. between price deflation caused by growth and price deflation caused by contractions in credit. In this interview, the economist Phillipp Bagus says that these fears of deflation are misguided.
Market Capitalism and Christian Social Ethics: A Contradiction?
Capitalism and free markets are widely considered to be incompatible with Christian social ethics. At a closer look, however, market capitalism turns out to be the economic order most consistent with the basic principles of Christian ethics.