Navigating Crises without a Compass: Politics in the Quicksand of Interventionism
Under the guise of the COVID-19 crisis, attempts are being made to use the crisis for a political agenda that would not have found majority support before. The role of the state is expanding. A new policy approach is necessary to secure prosperity.
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.
A New Era: Politicians and Central Banks Reinvent the Wishing-Table
Unbelievable national debts and deficits, direct access of politicians to the printing press and unconditional payments to citizens in the USA. The EU, for its part, is embarking on the path of massive new national debt. Can this possibly end well?
Money Glut, Debt, and Rolling Central Bank Guarantees: Full Steam Ahead towards the Abyss
Central banks have become prisoners of their own policies with their perpetual monetary glut. Everyone knows this, and everyone knows that everyone knows it. But proclaiming a different message, they shirk responsibility. The party must go on at all costs.
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.
The Political Management of the Coronavirus Crisis: The Potential Harm of Damage Compensation
We could be facing the biggest economic crisis of all time. Will politicians be able to learn the lessons from this and use the crisis as an opportunity for a new beginning in economic and public health policy?
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.