Expanding state
A trend toward increased government influence in economies and personal life is curbing growth, and freedom, in many Western countries. The outsized role of government results in misplaced incentives, overregulation – which restrains markets and competition – and irresponsible budgetary policies. It leads to planned economies and principalist, authoritarian, centralist and also socialist policies. As history shows, such governments inevitably fail in the end.
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GIS Dossier: The shifting grounds of EU banking rules and supervision
Bank regulators are forced to close their eyes again to vulnerabilities that made the 2008 banking industry meltdown possible. They need to ensure that banks continue supporting the real economy during the pandemic. For instance, capital requirements are being softened and regulatory relief given so banks can lend as much as possible to the private sector. When credit risk stops being an issue, however, financial instability can follow quickly.
Opinion: A tale of two pandemics
The European Union may not survive the coronavirus pandemic, according to critics. Or, quite to the contrary, it will prosper as EU leaders mobilize the union’s political and institutional resources and breathe new life into the European project. Which of the two narratives is more likely to materialize? Michael Leigh ...
The German constitutional court’s courageous ruling was necessary
Germany’s Federal Constitutional Court in Karlsruhe made history on May 5, 2020. The justices found that the European Central Bank could have acted outside its remit by purchasing government debt. Accordingly, the court suspended the Bundesbank’s participation in the ECB’s program.
Sunday Opinion: The art of creating an environment for healthy longevity
Longevity research shows that the building blocks of health are developed early and cultivated throughout the years. Centenarians tend to have a sense of meaning and purpose, and access to resources to overcome challenges. A lucky draw in the genetic pool lottery plays only a secondary role.
The political economy of crony socialism
When governments and critical financial institutions rig the system to facilitate irresponsible public spending, trouble is inevitable. Today’s crony socialism, masquerading as capitalism, is at the root of the crisis unleashed by the anti-coronavirus measures. Unfortunately, panicked citizens perceive the government as a part of the solution, not the problem.
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More Disruptions
Middle East politics
The region, one of the cradles of civilization, is going through a turbulent period of historic realignment. Its powers are vying for political, military, economic and religious dominance with local players and outside actors. Armed conflicts, mainly civil wars, are ...
Russia resurgent
Russia’s incursion in Ukraine raised alarm about a new Cold War, deepened with the intervention in Syria and allegations of meddling in U.S. elections. But the Kremlin’s new assertiveness is largely defensive, while Ukraine’s emergence as a nation-state undermines Moscow’s ...
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