Article overview
A Market for Values and its role in reconciling capitalism and democracy, economics and ethics
In a guest contribution for Forum New Economy, Marco Senatore, Senior Civil Servant at Italy's Department of the Treasury discusses his notion of a market for values.
Narratives and Szenarios in the post-Corona world
Does the crisis trigger a transformation process or will everything go back to normal? Hannes Böhm and Valentin Sagvosdkin describe the importance of narratives for the time after the crisis.
Larry Summers talked to NAEC (OECD)
Our cooperation partner NAEC (OECD) invites you to a conversation with former US Treasury Secretary Larry Summers. You can find the recording here.
The State of Inequality in Germany
What are the recent trends in income, consumption and wealth inequality in Germany? Charlotte Bartels and Carsten Schröder review the literature in a new study commissioned by Forum New Economy.
Digital Global Solutions Summit: Global Table
The Future of Multilateralism and Global Governance - Curated and produced by Forum New Economy
Hawks to doves? Germany's new generation of economists
The Franco-German proposal for a reconstruction plan shows that a new crop of economists has come to the fore in recent years - writes Caroline De Gruyter in euobserver.
The way out of the crisis – all news about a possible recovery plan
The German government has decided on an economic stimulus package of 130€ billion. Achim Truger and Michael Hüther evaluated individual measures in advance. Laurence Tubiana and Emmanuel Guerin insist on the importance of the Green Deal for reconstruction.
The Gradual Encroachment of Ideas – Lessons from the past paradigm shift
A Forum New Economy Working Paper by Laurie Laybourn-Langton.
German-French alternative to Euro-Bonds
What's behind Merkel and Macron's 500 billion-dollar proposal. Our update on the reconstruction plans for Germany and Europe.
Corona Workshop Video: Fiscal Policy – Will the Trillions be enough?
Robin Brooks, Frank van Lerven, Antonella Stirati and Shahin Valleé discuss the fiscal capacities of countries hit by the corona virus and lay out what needs to be done next.
Central banks to the rescue? Is this the time for helicopter money?
Corona Workshop: Over the last four decades central banks have been almost exclusively mandated with the task of macroeconomic stabilization. Can they still do their job? We discussed this with Eric Lonergan, Martin Hellwig, Peter Bofinger and Daniela Gabor.
Introduction to The Corona Economic Shock
Introductory remarks by Thomas Fricke and Gerhard Schick on the state of the economy and a plan to cope with the crisis at the Forum Corona workshop.
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.