Mercron: The Franco-German Tandem Is Back – On Berlin’s Terms
They haven’t done a thing, but “Mercron” (Merkel & Macron) is everybody’s latest buzzword. The Franco-German engine is back, so you hear all over the
Brexit In Reverse?
Economic reality is beginning to catch up with the false hopes of many Britons. One year ago, when a slim majority voted for the United
Dispelling Creative Myths On Lower Employment Protection
In the years since the 2008 crisis, 229 employment protection reforms have been imposed across EU member states (see here). There has been a strong
Understanding The Productivity Puzzle
In all major economies, the so-called productivity puzzle continues to perplex economists and policymakers: output per hour is significantly lower than it would have been
How To Get Rid Of Germany’s Excessive Current Account Surplus
There’s no end to the criticism of the excessive German current account surplus. Quite rightly, people suggest that this imbalance has the potential either to
The Answer Is Wages, Not Capital
As in any other religion, faith lies behind capitalism. Faith that capital is a panacea always and in any situation: to push economic growth or
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
Britain’s Surprising Election: Austerity And Inequality Make For Angry And Unpredictable Voters
After the Brexit vote in June 2016 was followed by the unexpected victory of Donald Trump in November, an emerging theme amongst the commentariat was
Theresa May’s Other Citizens of Nowhere
British Prime Minister Theresa May has, of her own volition, stripped her Conservative Party of its governing parliamentary majority by calling an early election. If
The Case For An Investment State
The case for an Investment State rests with three propositions: The first is the diminishing credibility of the Welfare State. Flourishing mid-20th century, it has
Europe’s Shrinking Middle Class
The Great Recession depressed real income levels across European countries. But the impact was very unequal across countries and income groups. Countries in the European
Immigration And Economic Growth: Is Keynes Back?
There is something very strange going on in the current debate on refugee immigration. There is a lot of alarmist talk about youth gang criminality,
Brexit Talks Should Be Postponed
The UK government has agreed with its EU partners to start Brexit negotiations today (June 19), with an all-day timetable starting at 0900 GMT and
Angela Merkel’s Challenge To Europe
German Chancellor Angela Merkel has never been regarded as an especially inspiring orator. In fact, she has a reputation for gently talking her audiences to
Understanding Today’s Stagnation
Ever since the ‘Great Recession’ of 2007-2009, the world’s major central banks have kept short-term interest rates at near-zero levels. In the United States, even
New Brussels Reforms: Path To More Austerity For Italy
New reforms for the Eurozone are in sight, ready to be implemented in the short term by taking advantage of the stronger than expected European
A Brexit Strategy For A Weak UK Government
As Prime Minister Theresa May seeks to form a new government, following an election in which her Conservative Party lost its parliamentary majority, she knows