Article overview
Germany’s confused fear of hyperinflation
Why are Germans so different when it comes to inflation fears? A new study sheds light on German scepticism towards monetary expansion.
The forgotten history of European Community debt
Sebastian Horn, Josefin Meyer, Christoph Trebesch show that since the 1970s, the European Commission has placed more than a dozen community bonds on private markets, which were guaranteed by the member states and distributed to countries in crisis.
Washington consensus 2.0?
The Washington consensus has for long time been the symbol of market liberalism. Now, there may be a „new Washington consensus“, writes Martin Sandbu from the Financial Times based on what the International Monetary Fund and the World Bank argue in recent publicatioins around their traditional spring meetings.
Interview with Larry Kramer: The Road to Paradigmatic Change
We discussed with Larry what it takes to create a new paradigm and whether the new US administration will turn things around.
Is the race to the bottom of corporate taxation finally coming to an end?
Yellen's call this week for global minimum corporate tax buries a weighty part of the old paradigm - the unhealthy tax competition between states.
Paradigm Shift in Albania – FES Study on the Relationship between Market and State
The Economy for All initiative of the Friedrich-Ebert-Stiftung presented and discussed a new study on paradigm change on 18.3.2021. Also on the panel that discussed the study – Forum New Economy.
Bidenism and the American Rescue Plan – Part II
Right after getting the $1.9 trillion rescue plan approved, Biden is ready to push for a $3 trillion infrastructure package. How do these measures reflect the changes in economic theory and policy debates?
Makronom Series on the Relationship between the Market and the State in the Post-Corona Age
COVID19 and the climate crises, growing inequality and financial market stability: almost everywhere, the relationship between markets and governments needs to be re-examined. A review of the series in the online magazine Makronom.
Favorite Readings for a New Paradigm – Winter 2020/21
Every three months Forum New Economy is showcasing a hand full of selected research papers that lead the way towards a new economic paradigm.
Beyond Growth: Toward a New Economic Approach
Michael Jacobs writes about new goals and benchmarks for economic and social progress. The report, written for the OECD, is now available in German.
Event – Beyond Growth – Towards a New Economic Approach
Michael Jacobs, Denis Snower, Katharina Beck, Christoph Schmidt and Nicola Brandt discuss on February 15 about the meaningfulness of growth and how to make economic policy more goal-oriented.
Why (and how) liberalism must reinvent itself in the 21st century
Timothy Garton Ash describes what should replace the failed technocratic economic liberalism of the past three decades.
OUR MAIN TOPICS
New Paradigm
NEW PARADIGM
After decades of overly naive market belief, we urgently need new answers to the great challenges of our time. More so, we need a whole new paradigm to guide us. We collect everything about the people and the community who are dealing with the question of a new paradigm and who analyze the historical and present impact of paradigms and narratives – whether in new contributions, performances, books and events.
Redefining
the role of
the state
REDEFINING
THE ROLE OF
THE STATE
For decades, there was a consensus that reducing the role of the state and cutting public debt would generate wealth. This contributed to a chronic underinvestment in education and public infrastructure. New research focuses on establishing when and how governments need to intervene to better contribute to long-term prosperity and to stabilize rather than aggravate economic fluctuations.
Remaking
finance
REMAKING
FINANCE
More than a decade after the financial crisis there still seems to be something seriously wrong with the financial system. Financial markets still tend to periodically misprice risk and contribute to boom and bust cycles. A better financial system needs to discourage short-termism and speculative activity, curtail systemic risk and distribute wealth more broadly.
Greening
prosperity
GREENING
PROSPERITY
During the high point of market orthodoxy, economists argued that the most 'efficient' way to combat climate change was to simply let markets determine the price of carbon emissions. Today, there is a growing consensus that prices need to be regulated and that a carbon price on its own might not be enough.
Reducing
inequality
REDUCING
INEQUALITY
The rising gap between rich and poor has become a threat to social cohesion in most rich countries. To reverse this trend it will be crucial to better understand the importance of different drivers of income and wealth inequality.
Innovation Lab
INNOVATION LAB
Do we need a whole new understanding of economic growth? What would be a real alternative? How viable are alternatives to GDP when it comes to measuring prosperity? These and other more fundamental challenges are what this section is about.
Globalization
for all
GLOBALIZATION
FOR ALL
After three decades of poorly managed integration, globalization is threatened by social discontent and the rise of populist forces. A new paradigm will need better ways not only to compensate the groups that have lost, but to distribute the gains more broadly from the start.
Europe
beyond markets
EUROPE
BEYOND MARKETS
The euro was planned during a period in which economic policy making was driven by a deep belief in market liberalism and the near impossibility of systemic financial crises. This belief has been brought into question since the euro crisis, which showed that panics do happen. New thinking needs to focus on developing mechanisms to protect eurozone countries from such panics and to foster economic convergence between members.
Corona Crisis
CORONA CRISIS
The current Corona crisis is probably the worst economic crisis of the post-World War 2 era. Economists are working hard on mitigating the economic effects caused by COVID-19 to prevent a second Great Depression, the break-up of the Eurozone and the end of globalisation. We collect the most important contributions.