The European crisis can only be understood if one understands the crisis in economics that is causing it. Politics was and is slavishly dependent on the wrong economic teachings. Germany is lost without European Monetary Union.
Originally posted in German at Makroskop
Translated and edited by BRAVE NEW EUROPE
What the great European divergence – and the loud silence of politicians – clearly shows is that policy-makers and the majority of so-called academics simply do not understand the minimum conditions for free trade, …