In libertarian circles, where the leader of the German liberals, Christian Lindner, regularly moves, it has become chic to refer to the ‘successes’ of the Argentine president elected a year ago, thus creating the impression that shock therapy could also be appropriate in this country. The Argentine president, Javier Milei, is being held up as a paragon of liberalism before anyone can even present well-founded empirical evidence that his radical approach is having positive effects. Even the no-less libertarian Elon Musk is repeatedly cited as Milei’s kindred spirit, presumably to show how much money can be made if you have the right attitude.
Economics
Robert Skidelsky: The Myth of Central-Bank Independence
The Bank of England’s failure to respond effectively to the worst inflation in four decades underscores the need to abandon the outdated notion that fiscal and monetary policy can be kept separate. If governments are […]
EU politics
Corporate Europe Observatory – Carmageddon: EU driving financial markets the wrong way
The EU is about to adopt new rules that will help trade in securitised loans, the very financial instruments that were a main cause the 2008 financial crisis. Despite warning signs of a new ‘subprime […]
Economics
ifo Institute – German Recession: Order Shortage in Germany Continues to Worsen
The German economy is being hit increasingly hard by the lack of orders. In October, 41.5% of companies reported a lack of orders, up from 39.4% in July. That’s the highest level since the 2009 […]
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