Tag Archives: Social Market economy

Another important chapter in the austerity revolution

The UK election of May 7 was first and foremost a national referendum on austerity politics. And in the confinement of their voting booth, voters probably realized that the tough cost cutting of the Cameron government is very likely the more responsible way to deal with the challenges of the future than the tax-and spend-approach that Labour and others were advocating for. Continue reading

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Don’t forget: The Swiss business model is unique!

The Swiss anti-immigration vote is a slap in the face of all conventional economic wisdom. And still, the Swiss economy might somehow get away with the new measure without hampering its growth prospects too much. Continue reading

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The true reasons why the rich get richer

The increasing wealth divide between rich and poor is usually being portrayed as the result of neo-liberal politics. In reality, however, it is the result of an anonymous, planetary mass market that through its sheer size multiplies the rewards of those who are being celebrated as successful. Continue reading

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Citizens of the international community

The tax minimization policies of multinational companies reflect a new reality. We no longer live within the limits of the old nation-state. Instead we have now become international creatures whose allegiances transcend the traditional limits of patriotism. Continue reading

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It can’t get any worse than this!

It is true that Mr. Hollande’s leadership is wanting. But you have to give him credit for being less socialist now than when he came to office. Continue reading

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This is outrageous!

It is completely mistaken to use the Cyprus savings account tax as a blueprint for future bank rescues. All this happens because the European Union erroneously subscribes to the common wisdom that it was wrong to let Lehman Bros go bust and that every bank should instead be rescued in order to avoid a systemic risk for the entire financial system.
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Bad Boy Germany, yet again!

Germany’s international image has received yet another severe blow in connection with Cyprus rescue package Continue reading

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Does Latvia’s austerity success serve as a test case for EURO-style debt consolidation?

Latvia’s success with austerity proves that the success of fiscal consolidation programs depends much rather on national consensus and common interest than on some obscure law of economic nature as Keynesian commentators would have us believe. Continue reading

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We cannot return to the innocent Citroën 2CV world of late

The argument that Southern European countries need to exit the EURO in order to regain the capacity to devaluate their currency if economic reality dictates so is flawed. After all, it is really hard to imagine that people anywhere could go back to the old Citroën 2CV days of late. Continue reading

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The EURO rescue effort and the Italian election result

We were expecting that sooner or later something would come up that would challenge the solidity of the Euro rescue effort. We didn’t foresee however that it would be Italy that would cause the subject stir. Continue reading

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