Corruption and corporatism – is TTIP still desirable for the EU?

Experiencing a period of economic stagnation, the European Union (EU) has started to look for different ways to enhance its economic growth rates. One solution is represented by the Transatlantic Trade and Investment Partnership (TTIP). However, this solution is also one of the most debated issues within the circles of economists due to economic and social costs at stake. Among these costs, the issues of corruption and corporatism should not… Continue reading Corruption and corporatism – is TTIP still desirable for the EU?

Interview – Thomas Straubhaar: “Integration remains a political process”

Excerpt: DC: It is clear that QE hasn’t alleviated the existent discrepancies across the European Union when it comes to income levels (East vs. West) and unemployment rates (North vs. South). Can convergence still be achieved? If yes, how? TS: I am very pessimistic. We live in a world of divergence and not of convergence. However, more convergence can be achieved across the European Union. Firstly, institutions matter. They matter… Continue reading Interview – Thomas Straubhaar: “Integration remains a political process”

Review of Dani Rodrik, Economics Rules: Why Economics Works, When It Fails, and How to Tell the Difference

At the beginning of every course of economics, students are taught that free markets are what should be aimed for. That markets have the ability to self-adjust, every intervention of the state leading to a misallocation of resources. Only later do students learn that the free-market concept may backfire by not bringing the anticipated results. Two cases are worth mentioning: (i) the one of South East Asian economies and (ii)… Continue reading Review of Dani Rodrik, Economics Rules: Why Economics Works, When It Fails, and How to Tell the Difference