Mainstream economics has shaped modern policymaking, but its failures and ideological divides reveal deeper systemic flaws.
G7 versus the BRICS: taking stock in 12 figures
Can China and Russia offer an alternative social model to the universal norms they reject? The evidence says no.
A tale of two countries: Belarus and Lithuania
In 1991, Belarus did not join the Baltic states in striking out independently from the Soviet Union. Now the jury is in.
Constitutional moments: Chile and Iceland
Some perspective on the referendum defeat for Chile’s draft constitution comes from a different quarter—Iceland.
Democracy in Iceland
Iceland enjoys the general perception of Nordic countries as well-governed democracies. Its oligarchs would prefer that that remain so.
Germany bows to Keynes, again
Say it quietly, but Germany has learnt the lessons of Keynes. Would that others had done so too.
Assar Lindbeck: an appreciation
The Swedish economist’s life of rich activity straddled theory and policy—and painting.
After 1989: the battle for democracy
The differing paths of the states which emerged after the fall of the wall show how liberty and the rule of law go hand in hand.
Why Inequality Matters
There was a time, not long ago, when most economists did not consider inequality in the distribution of income and wealth all that important. True, in Scandinavia and Austria, for example, distributional issues were embedded in economic policy through “social partnership” from the 1950s onward on the conviction that an equitable income distribution would help […]
Sweden: From Achievements To Uncertainty
A quarter of a century ago the economic policies of Sweden’s Social Democrats faced harsh criticism from political opponents as well as from academics. The party had governed the country continuously from 1932 to 1976, mostly in minority government, and then again 1982-1991 (and yet again 1994-2006 and from 2014 to date). Some critics thought […]
Democracy Must Prevail, Always
Diversity is desirable in human affairs, as in nature. Most countries strive toward economic and political diversification. Economic diversification is a way of escaping dependence on a narrow economic base so as to spread risk. Political diversification is another side of the same story. Political diversification is a way of escaping dependence on a narrow […]
Democracy Under Stress
Freedom House recently demoted the United States from top rank among the world´s democracies. The reasons given include ‘the cumulative impact of flaws in the electoral system, a disturbing increase in the role of private money in election campaigns and the legislative process, legislative gridlock, the failure of the Obama administration to fulfill promises of […]
Spineless Social Democracy
Of all social democratic parties in Europe none has fared worse at the polls of late than Iceland’s Social Democratic Alliance. Whereas in the parliamentary election of 2003 it won 20 out of 63 seats in Parliament, it barely cleared the 5% threshold in the 2016 election, securing three seats, all in rural constituencies. The […]