Blog

Rainer Wieland is right: a seven-year budget is ludicrous

Categories:
Blogger: Bill Wirtz
Rainer Wieland is right: a seven-year budget is ludicrous

One of the European Parliament's senior members, Rainer Wieland (EPP-Germany),stated in an interview that long-term budgeting doesn't make a whole lot of sense. He's right. His conclusion, however, does not pass muster.   The EU budget   Five-year economic plans or seven-year budgets are the hallmarks of collectivist regimes. Stalin's first Five Year Plan came to…

The Brexit divide: region and identity

The Brexit divide: region and identity

Political scientist Matthew Goodwin, co-author, along with Roger Eatwell, of National Populism: The Revolt Against Liberal Democracy, has called Brexit a “purple” vote, i.e. neither left or right but a melding of the two spectra, though often with differing or completely opposing agendas. A long-form piece by the BBC provides perspective on Goodwin’s assertion. The main…

A Visit to the Pinkas Synagogue and the Old Jewish Cemetery in Prague

Categories:
A Visit to the Pinkas Synagogue and the Old Jewish Cemetery in Prague

“Six million of our people live on in our hearts. We are their eyes that remember. We are their voice that cries out. The dreadful scenes flow from their dead eyes to our open ones. And those scenes will be remembered exactly as they happened.”…

What is Modern Monetary Theory? (III): A Critique

Categories:
What is Modern Monetary Theory? (III): A Critique

A widespread idea among MMT proponents is that governments can never go bankrupt. And to some extent, this is true. If a government has the capacity to print money, it can’t strictly default on its debt. Put differently, a government with monetary autonomy will always be able to print money to repay its debt in nominal terms. But at what cost? Imagine you buy a one-year government bond for…

How do you even "march for Europe"?

Categories:
Blogger: Bill Wirtz
How do you even "march for Europe"?

Seriously, what does that mean?   Confident marchers   On March 24, 1,000 people marched in Brussels, urging pro-EU forces to remain united in order to tackle the rising extreme-right and halt the “Orbanisation” of European societies ahead of the May EU elections. Their fear: the right-wing, following the example of Hungarian Prime Minister Viktor Orbán, will turn…

What is Modern Monetary Theory? (II): A Critique

Categories:
What is Modern Monetary Theory? (II): A Critique

In the last months, the US political debate has revolved around a number of proposals (e.g., Bernie Sander’s Medicare for All or Alexandria Ocasio-Cortez’s Green New Deal) that, if materialized, would send government expenditures through the roof. Most economists would tell you that, in the long run, these new programs must be financed either by increasing taxes or by trimming other…

What is Modern Monetary Theory? (I): Some Ideas

Categories:
What is Modern Monetary Theory? (I): Some Ideas

In an interview last January, Democratic Party’s rising star Alexandria Ocasio-Cortez brought attention to so-called Modern Monetary Theory (MMT), a theory that challenges the foundations of mainstream economics regarding fiscal and monetary policy. Whereas its supporters see in MMT a solid theoretical framework with which to justify the expansion of public spending, its detractors argue…

Burrowing into Books -"Uncle Dynamite" by P.G. Wodehouse

Burrowing into Books -"Uncle Dynamite" by P.G. Wodehouse

“He looked pleased with himself, and who shall blame him? A man whose  mission is to spread sweetness and light and to bring the young folk together may  surely be forgiven a touch of complacency when happy endings start going off like  crackers all around him and he sees the young folk coming together in droves.”…

Tech and achievement: a new "problem"

Categories:
Tech and achievement: a new "problem"

Recently, I attended a workshop given by a man who had obtained his PhD in the early 1990s. When he was a student he was the only person that to finish the entire programme and graduate, not only from his admission year but also from several groups on either side of him. The explanation was that the technological difficulty of doing research, assembling, organizing, and then publishing…

© Values4Europe