2008: The Year East-West Wage Convergence Came To A Standstill
The crisis has put an end to wage convergence of the poorer Central and Eastern European new EU member states (EU-11, being: Czechia, Estonia, Hungary,
The Euro Area’s Future: Rigorous Reforms – And More Solidarity
Right at its 60th anniversary, the European Project is facing real challenges. The most obvious, perhaps, is the decision of the British people to leave
The New Socialism Of Fools
According to mainstream economic theory, globalization tends to “lift all boats,” and has little effect on the broad distribution of incomes. But “globalization” is not
The Future Of Work And The Social Welfare State’s Survival
Europe, like the United States, has seen dramatic changes in how people work. Compared to 15 years ago, many more people have part-time, temp or
Why Do Cities Become Unaffordable?
Inequality is usually measured by comparing incomes across households within a country. But there is also a different kind of inequality: in the affordability of
Macron And The EU Financial Transaction Tax
Christian Proaño and Thomas Theobald
What do I care about my chitchat of yesterday? The famous statement of German Chancellor Konrad Adenauer could well have been repeated by French President
Why Won’t Wages In Europe Rise As They Should?
Thorsten Schulten and Malte Lübker
The economic mainstream is perplexed: growth is finally taking hold across Europe, economic forecasts have been revised upwards, and employment is expanding. The only indicator
Why Are Illiberal Democrats Popular?
The rise of “illiberal democracy” in Europe is one of the most baneful trends of our time. These regimes are typically centered on a leader
A Big Legacy: Wealth In Europe
The material prosperity of people consists of two main resources: income and wealth. The possession of wealth, in particular, offers extended consumption options, can make
Riddle: When Is A Chlorinated Chicken Better Than A Regulated Banana?
Answer: When the chicken has been accepted in an across-the-table negotiation, and the banana regulation has been agreed among a group of partners on the
Beyond Fantasies Of Industry 4.0
As global capitalism advances through the second decade of the 21st century, three observations stand out: Deflation, i.e. collapse of all prices (inclusive of wages
Germany’s New Power Of The Purse
Last week, German Foreign Minister Sigmar Gabriel interrupted his holiday on the North Sea to respond to Turkey’s jailing of a German human-rights activist. Gabriel
Away from Oil: A New Approach
The time of large SUVs is over: this is what experts in the automobile industry said in 2008, when the oil price was at its
The Ordoliberal Ghost
Driven by the politics of resolving the Euro crisis, ordoliberalism has sparked great academic interest in recent years. To many observers, this school of thought
Gender Pay Gap In Europe
Though the two principles “equal pay for equal work” and “equal pay for work of equal value” have been legally fixed with the European Treaty