The Coronavirus pandemic is a golden age for critics of civilization, moralizers, miracle healers and intellectual crisis profiteers. At last, however, the economy and the market are being talked about in a positive light again—high time, because more than a few politicians are enjoying a permanent state of emergency.
From the OECD to the EU: Although people like to profess their support for diversity, they nevertheless insist on uniformity. The G-20 wants an international tax cartel. The pressure to be economical with taxes will diminish. The losers will be the citizens.
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.
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.”
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.
