Donald Trump – the transatlantic ego-trumpet

What happens to a country with some of the best universities worldwide, where many of the most brilliant books about sociology, politics, economics appear, where, in other words, many of the world’s most influential intellectuals are still at home – what  happens to such a country when a man becomes president who seems to emerge right from a comics book where he would represent an American-style Obelix, but with an even more pompous self, a man who dares to  taunt the scientific community for its alleged ignorance in matters of climate change? Continue reading Donald Trump – the transatlantic ego-trumpet

Economic decline and the doctrine of free trade

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