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: Monetary policy stood on its head
Unconventional monetary policies saved many financial institutions in the U.S. and Europe after the financial crisis. However, near-zero to negative interest rates and central banks’ massive debt-purchasing programs, which pumped trillions of dollars and euros into economies, failed to restore growth and have had potent, negative and lasting side-effects. Relaxing the corset of regulations while restoring the market players’ responsibility would have worked better.
Looking for the best tax code
Ballooning modern governments collect an increasing proportion of their countries’ output in taxes, which spreads inefficiency and economic stagnation. The drivers of this process can be neutralized, and the economy-distorting impact of taxation mitigated, with better tax-system design. Among OECD member states, there are examples of sound solutions to emulate.
Opinion: The financial elephant in the room
Like medieval alchemy that failed to turn lead into gold, today’s easy-money folly of central banks and governments will lead to crisis, not economic growth and prosperity. After years of addiction to overspending, neither politicians nor central bankers seem capable of returning to responsible policies. New technologies such as cryptocurrencies, ...
The ever-ambiguous European Union project
The European Union’s ambiguity-ridden system is increasingly hard to sell to populations. Stranded in a no-man’s-land between a federal state and a confederation, today’s EU features neither sound democracy, nor prudent governance, nor a vibrant economy. A true federalist system could go a long way toward addressing these weaknesses, but it ...
GIS Dossier: Mission impossible, or reforming France
France used to be one of the European Union’s “twin engines” along with Germany. These days, this once-proud civilization is considered more of a problem than a solution for the European project. Its economy is ailing under excessive government spending and overregulation, its enterprises are stifled by a rigid system ...
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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 ...
