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aftermath of the 9/11 terrorist attacks and the 2008 financial crisis have led
to calls for a dramatic increase in the powers of government. Even the ubiquity
of internet-based technologies and the populist backlash against political
establishments have had the paradoxical effect of promoting centralization. Yet
in both politics and economics, there is plenty of evidence that state
paternalism is the wrong answer.
The movement for significantly raising the minimum wage has gained momentum in many countries. Cities such as Seattle and Berlin have experimented with doing so, with mixed results. Countries can maintain stability by keeping poverty and inequality at bay, but policies that distort the economic environment need to be made at the local level to limit the scale of unintended negative consequences.
Dr. Emmanuel Martin
We have heard the glib predictions of doom. China is growing increasingly less competitive. Its wages are rising and innovation faltering, landing it squarely in the ‘middle income trap’ that afflicts emerging economies with rising costs as they try to move up the value chain. Though it has poured money into R&amp;D and modern equipment, productivity has stalle...
Unemployment in France is at a record high. Despite the creation of almost half a million subsidised jobs, the ranks of the jobless have swelled by about 1.2 million in the three years since President Francois Hollande’s election, to 6.4 million. For some time now the French public has been told the trend is about to reverse, but month after month, their hopes have...