The USA and the EU have recently been in a subsidy race—industrial policy by bureaucrats. The innovative forces of the market are being undermined and the inefficiency of these measures is predictable.
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.
Compared to the USA, Europe is lagging behind in terms of information and communications infrastructure. A reexamination reveals: For too long, billions of taxpayers’ money have been invested in technologies of the past.
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?
The “primacy of politics” over the logic of the economy is repeatedly and categorically demanded. Insofar as such efforts undermine the private property-based power of disposition over the means of production, it is the first step in the direction of the “other socialism.”
