The spectacle never fails to impress. The clever economists shake their heads with concern and raise their index fingers in warning: the nations of the world are living beyond their means and the towering mountains of national debt are exceeding the threshold of comprehension. …
These days, it is easy to see how a misunderstanding of economic processes can lead to enormous political conflicts. The tariffs that Europe, driven by the European Commission and its head Ursula von der Leyen, wants to impose on Chinese electric cars show once again that modern politics causes enormous damage because politicians do not even begin to understand the systems they are intervening in. …
‘Germany in the focus’ was the headline of a story on ntv a few weeks ago about Peter Navarro, known as ‘Trump’s trade warrior’. Navarro is currently in prison for four months, but if he wins, Trump will probably quickly bring him back into the administration with responsibility for international trade. …
(A shorter version of this paper has been published by the LSE blog today)
Inflationary dynamics cannot be effectively addressed by conventional measures or a radical market shock therapy. Comparing the developments in Argentina and Turkey, we argue that the only way to address the problem is through cooperative behaviour of the government, …
