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. …
Cross-posted from Brussels Morning (https://brusselsmorning.com)
The latest Intergovernmental Panel on Climate Change (IPCC) report presents the scientific state of the art on our changing climate. Everyone in our latitudes agrees that something has to be done. But without a global executive, …
Cross-posted from Brussels Morning (https://brusselsmorning.com)
What is called economics in Germany has become unchallenged ideological preaching. It is not about understanding economic interrelations, but a theology of conviction that is not grounded on facts and theory.
It is hard to believe that the “crème de la crème” of German economists fail time and again to soberly assess unfolding events. …
