Almost everyone now knows that the first German attempt to reform its pay-as-you-go pension system by a funded arm, the famous Riester pension, was a total flop. Nevertheless, even before the government was formed, some parties were again discussing the possibility of strengthening the funded part. …
In the exploratory talks in the run-up to coalition negotiations and in their media accompaniment, the state’s debts played a prominent role. In particular, the conservative parties and their media lobbyists feel called upon to warn against a “softening” of the legally established debt rules in Germany and Europe. …
When European Monetary Union (EMU) was established more than 20 years ago, there was widespread hope that a large single European market, enhanced by a single currency and a single monetary policy, would make a significant contribution to permanently reducing unemployment in Europe. …
If you want to understand why we have such a hard time explaining economic processes adequately, you have to look at the discussion on inflation these days. It seems as if we have to puzzle over and over again what the causes of inflationary processes are and decide again and again under high uncertainty whether we are currently dealing with a dangerous or a relatively harmless change in prices. …
