To prevent any misunderstandings: I admire the former editor-in-chief of Austria’s “Profil” and current contributor to “Der Falter” for the lucidity of his style, his straightforwardness, his political intuition and, yes, for his sense of justice. Moreover, I hope not being inclined to quarrel over each dot on top of an ideological “i” to the point of utter disagreement – a tendency so widespread among left-wing thinkers. Continue reading Peter Michael Lingens – Why this juggling with facts?
In an article published in the New York Times on 5 September (“Trumpism Is Bad for Business”), Paul Krugman sharply criticized the economic sanctions imposed on China. Continue reading Krugman, Trump and Geopolitics
I am living in Puch near Weiz, a small village in Styria. Some tourists who spend their holidays here will describe the place as dreamy, although local people are by no means idle dreamers, but hard-working men and women. Continue reading The Curse of Globalization
Ten logical objections and empirical arguments against persistently held dogmas in current economics
The principle of neoliberalism may be summarized in the following formula: The best way of guaranteeing a maximum performance for the economy is to keep government entirely out of its sphere. Its role should be confined to ensure the safety of personal property, which it does by using police and justice to this very purpose. Continue reading Neoliberalism: Death of a pseudo-science
In my opinion the underlying reason for the impending disintegration of Europe is free trade policy as pushed by Germany (see my essay the “The ugly German – a specter is coming back”). I am, of course, aware that this view is diametrically opposed to accepted wisdom as to be found in economic textbooks. Therefore, I would like to emphasize at the outset that I do not consider those textbooks to be wrong – their theory is, indeed, hard to refute and at first glance it seems to be morally sound as well. In my new book, “From Crisis to Chaos”, I even speak of “neoliberal idealists” – a wording which may sound rather queer to some ears (1). But if they are honest, neoliberals certainly strive for the best. Unfortunately, despite of all their endeavors, they always achieve the worst, and for this there is a very simple and basic reason: Their theory and the world we happen to live in, do not share much of a common ground. Continue reading Economic decline and the doctrine of free trade