Article overview
Video: Carlo Jaeger – EU needs a new Innovation Strategy
The Green Deal as currently designed is a big chance but not enough. Carlo Jaeger (Global Climate Forum) advocates for more public investments and a redirection in the innovation strategy in Europe.
From New Deal to Green New Deal Lessons from the post-war shift
In a project for Forum New Economy, Laurie Laybourn-Langton (IPPR) explores the strategies and means of organisation employed by those seeking a paradigm shift before, during and after WWII.
Is Britain Undercounting the Impact of the Coronavirus?
According to new statistics, the death toll in the UK could be higher than previously estimated. The reason for this could be the calculations of deaths in nursing homes and private residences.
An Investment Agenda for Germany
The association of German employers (BDI) and the German trade unions (DGB) have called for an increase of investment spending of almost €500bn over the next ten years.
The proposed reform of the European Stability Mechanism must be postponed
Eurozone finance ministers reached a preliminary agreement on a reform of the European Stability Mechanism in June, but failed to conclude it last week. The reform is now set to be discussed during the European Council meeting on 12-13 December. Shahin Vallée, Jérémie Cohen-Setton, Paul De Grauwe and Sebastian Dullien write that the proposal should not be endorsed in its current form. They argue it would represent a missed opportunity to secure a broader and more ambitious reform package.
What were the Driving Forces in the 2019 UK General Election?
Thiemo Fetzer with an analysis.
Germany is falling out of love with economic orthodoxy
Thomas Fricke and Simon Tilford, directors at Forum New Economy, have written an opinion piece for the Financial Times. They argue that Germany could be on the cusp of another paradigm shift.
What really drives populist votes?
Recent insights and open questions. A paper by Thiemo Fetzer and Robert Gold for the Forum New Economy, October 2019.
Berlin orthodoxy? What do Germans really think
A poll among Germans reveals deep scepticism regarding economic orthodoxies officially defended in the country.
Starting a Berlin-based Forum to promote new economic approaches
Climate change, dangerously high inequality, unstable financial markets and the looming crisis of globalization – all these challenges require fundamentally new answers — by Thomas Fricke and Simon Tilford.
Where will the money come from?: How to finance a Green New Deal
By William White (ex-BIS, OECD), panel comments for the 5th Workshop of the New Paradigm Initiative (now Forum New Economy) held in Paris.
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.