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the New Economy Ticker
The latest news, debates, proposals and developments on new economic thinking at a glance.
Rethinking the world without the US – Article
Thomas Piketty, Le Monde, 15.04.2025
To envision what comes next, we need to comprehend the ongoing turning point.
“Trump wants a world that disappeared decades ago” – Interview (Paywall)
Interview: Marcus Gatzke and Marlies Uken, DIE ZEIT, 13.04.2025
US economist James Galbraith explains why the tariff dispute with China is jeopardizing the existence of Walmart. And he sees parallels with the collapse of the Soviet Union.
The Global South Will Pay for Trump’s Trade War – Article (Paywall)
Jayati Ghosh, Project Syndicate, 16.04.2025
Donald Trump’s tariffs have disrupted supply chains, roiled global markets, and escalated the trade war between the United States and China. While US consumers brace for higher prices, low- and middle-income countries will bear the brunt of the crisis, from currency depreciation to rising borrowing costs.
“It’s the sperm lottery”- Interview
Interview: Elisabeth von Thadden, DIE ZEIT, 15.04.2025
In the German inheritance society, you need to be lucky to have the right parents. A conversation with political scientist Martyna Linartas about her book “Undeserved Inequality” and the question of how to get rich more equitably.
Those who already had little are now even poorer – Artikel (Paywall)
Jurik Caspar Iser and Vivien Serve, DIE ZEIT, 10.04.2025
New data from the Bundesbank shows how unequally wealth is distributed. Inflation has hit Germans hard, but the richer half not quite as hard.
A new who’s who of the global elites – Article (Paywall)
Simon Kuper, Financial Times, 10.04.2025
They dominate the countries that account for more than half of global GDP — but who are they?
Tariffs are the mother of all cost shocks – Article (Paywall)
Chris Giles, Financial Times, 15.04.2025
The Fed needs to consider how levies raise prices and what it should do about it.
Donald Trump, Silicon Valley, and the Neoliberal Roots of an Unlikely Alliance – Interview
Jon Skolnik, Vanity Fair, 15.04.2025
In an interview with VF, Hayek’s Bastards author Quinn Slobodian unpacks how libertarians and neoliberals made race and intelligence an intellectual hobbyhorse, laying the foundation for today’s nativist right.
With higher prices, Black-Red risks the failure of its own climate policy – Article (Paywall)
A guest article by Thomas Fricke and Isabella Wedl, SPIEGEL, 07.04.2025
The prospective coalition partners want to maintain that petrol and heating will soon become drastically more expensive. That won’t work. A new, positive climate policy is urgently needed.
The coalition agreement could significantly increase growth – Article (Paywall)
Julian Olk, Handelsblatt, 10.04.2025
Exclusive calculations show: The coalition agreement could significantly boost economic growth. However, many measures are at risk of failing due to a billion-euro funding gap.
The dispute over money will come – Article (Paywall)
Claus Hulverscheidt, Süddeutsche Zeitung, 10.04.2025
In the coalition agreement, the CDU, CSU and SPD commit themselves to austerity and sound budget management. However, the agreement between the future partners raises more questions than it answers.
Why Trump is suddenly changing his mind – Article (Paywall)
Heike Buchter, ZEIT ONLINE, 10.04.2025
The retaliatory tariffs were in place for less than 14 hours before the US president suspended them again. He is not afraid of a recession. But of something else.
As if Trump was the only problem – Article (Paywall)
Kerstin Kohlenberg, ZEIT ONLINE, 10.04.2025
Donald Trump’s tariff policy is wrong. But he is right to target globalization. Why has the discourse on this completely fallen silent?
Americans Can’t Win from Trump’s Trade War – Article (Paywall)
Nancy Qian, 07.04.2025, Project Syndicate
Even the most charitable assessment of the Trump administration’s rationale for launching a global trade war reveals that the policy is utterly misguided. It rests not on empirical findings or economic theory, but on a mountain of assumptions – none of which stands up to even the slightest scrutiny.
Governments Are Not Startups – Article (Paywall)
Mariana Mazzucato and Rainer Kattel, 07.04.2025, Project Syndicate
By trying to running the state like a private business, Elon Musk and other anti-government types are creating a mess that someone else will have to clean up. Governments and businesses serve vastly different purposes, answer to different constituencies, and operate on entirely different timelines.
How to Punish Russia, Make Money and End the War – Article
Glenn Hubbard and Catherine Wolfram, New York Times, 27.03.2025
Donald Trump has had his first Liz Truss moment – Article (Paywall)
Martin Sandbu, 10.04.2025, Financial Times
Unlike the doomed former British PM, the US president is not going anywhere — so uncertainty is here to stay.
How the EU could respond to Trump’s tariffs – Article (Paywall)
Thomas Fischermann, Max Hägler, Johanna Jürgens and Ricarda Richter, ZEIT ONLINE, 03.04.2025
Of course, Europe can impose tariffs on US products. But there are even tougher instruments – or a very subtle response.
What will Trump’s tariffs mean for the EU and Germany? Article
Christina Denk, ZEIT ONLINE, 03.04.2025
The new US tariffs threaten several key German industries. What countermeasures are conceivable? And should consumers be prepared for high prices? An overview.
Trump, Tariffs, and the Fate of the Dollar – Article (Paywall)
Mark Blyth, Project Syndicate, 04.04.2025
Donald Trump’s attempt to reindustrialize the US economy by eliminating trade deficits will undoubtedly cause pain and disruption on a massive scale. But it is important to remember that both major US political parties have abandoned free trade in pursuit of similar goals.
Average person will be 40% poorer if world warms by 4C, new research shows – Article
Graham Readfearn, The Guardian, 01.04.2025
Experts say previous economic models underestimated impact of global heating – as well as likely ‘cascading supply chain disruptions’.
The Childish Tariff Formula That Will Reshape the Global Economy – Article
Binyamin Appelbaum, New York Times, 03.04.2025
How to make sense of Donald Trump’s tariffs – Article (Paywall)
Gillian Tett, Financial Times, 04.04.2025
The new field of ‘geoeconomics’ offers a guide for the perplexed.
Trump chaos is alienating Republicans – Article (Paywall)
John Burn-Murdoch, Financial Times, 04.04.2025
Outside of the Maga ecosystem, bad economic news is starting to cut through.
Beyond Deliverism – Essay
Alexander Hertel-Fernandez, Democracy Journal, 20.03.2025
What we need is policymaking as power-building. It is related to deliverism — but goes way beyond it.
Will the US Drill Its Way to Energy Obsolescence? – Article
Emily Hardy, Dan Helmeci, Internationale Politik Quarterly, 26.03.2025
US President Donald Trump demands energy dominance yet threatens to derail years of joint US-EU progress on clean energy manufacturing.
What’s the point of fiscal rules? – Article (Paywall)
Martin Sandbu, Financial Times, 27.03.2025
Don’t let the budget rule tail wag the democratic dog.
The redistribution from young to old must end – Article
A column by Marcel Fratzscher, ZEIT ONLINE, 21.03.2025
The paradigm shift in debt and investment must not be at the expense of the younger generation. Baby boomers must also be prepared to make more sacrifices.
So many people earn more – and less – than you – Article
Tamara Flemisch, Dana Hajek, Jurik Caspar Iser and Benja Zehr, ZEIT ONLINE, 25.03.2025
Our interactive calculator shows where you stand with your income compared to the rest of the population. And which class you really belong to.
EU plans countermeasures ‘with maximum effect’: Trump announces tariffs of 25 per cent on car imports – Article
Tagesspiegel, 27.03.2025
Until now, European tariffs on US cars have been higher than vice versa. Donald Trump now wants to change this and is planning punitive tariffs on cars – including those from the EU and therefore from Germany.
Simplification Promised, Uncertainty Delivered – Blogpost
Alice Bertram, Verfassungsblog, 20.03.2025
How the EU Omnibus Packages Roll Back the Green Deal.
Can the dollar remain king of currencies? – Article (Paywall)
Barry Eichengreen, Financial Times, 22.03.2025
The greenback’s dominance was forged on trade, alliances and institutions — now that era is at risk of drawing to a close
Why the Maga mindset is different – Article (Paywall)
John Burn-Murdoch, Financial Times 07.03.2025
US decisions can no longer be analysed using assumptions shared across the democratic west
The shattered American dream – Article
Marlies Murray, IPG-Journal, 25.03.2025
The MAGA movement now needs a progressive vision of the future – bold, systemic, popular.
Canada as a role model: Five points for sustainable migration – Article
Naika Foroutan, Harald Bauder, Ratna Omidvar, Blätter für deutsche und internationale Politik, 03/2025
Driven by the AfD, which is using the recent attacks by asylum seekers to demand ever more stringent migration policies, Germany is currently slipping into an actionist policy of isolationism that ignores all expertise from business and science. For years, this has prevented Germany from setting a new course in migration policy that is urgently needed.
A historical experiment – Article (Paywall)
A commentary by Mark Schieritz, ZEIT ONLINE, 18.03.2025
The new financial package is the biggest economic policy test in Germany’s post-war history. Now it is important that the government does not make any mistakes.
This is how much room for manoeuvre Friedrich Merz now has – Article (Paywall)
An analysis by Jurik Caspar Iser, ZEIT ONLINE, 21.03.2025
The way is clear for hundreds of billions of euros in new debt. The next government will have to save more than expected. But there are additional options.
Out of the debt brake maze – Article (Paywall)
Philippa Sigl-Glöckner, Surplus Magazine, 19.03.2025
The amendment to the Basic Law makes the debt rules even more complex. What is needed now is a reform of the debt brake that offers more clarity and room for manoeuvre.
Is this the end of the German debt delusion? – Article
Katharina Pistor, Der Standard, 17.03.2025
Germany finally wants to relax the debt brake. But another taboo should be dropped: the aversion to monetary financing. What is needed is an ‘anti-fascist economic policy’.
Without a real industrial policy, RearmEurope is just a massive redistribution programme – Article
A commentary by Francesco Saraceno, Makronom, 19.03.2025
With RearmEurope, the EU Commission wants to push ahead with rearmament and secure Europe’s strategic autonomy.However, in its current structure, the programme would increase the pressure on member states to make savings and threaten future investments.
Why the next German government should also strengthen Germany’s soft power – Article
Svea Koch & Niels Keijzer, Makronom, 18.03.2025
The coalition negotiations are focussing on Germany’s military ‘hard power’ – probably at the expense of development cooperation. The next government would thus be making a strategic mistake and weakening its global position.
A Defining Moment for Energy Security and Economic Prosperity – Article (Paywall)
Gaston Browne, Project Syndicate, 21.03.2025
Thanks to innovations in AI and battery technology, most developing economies will have outgrown their need for gas within a decade. So, rather than get locked into 30-year “bridging” contracts with fossil-fuel companies, these countries must go all in on the clean-energy transition – with the international community’s help.
Trump’s Economics—and America’s Economy – Article
James K. Galbraith, The Nation, 19.03.2025
You can’t make America great again by wrecking the government.
Will anybody buy a ‘Mar-a-Lago accord’? – Article (Paywall)
Martin Wolf, Financial Times, 18.03.2025
The US president wants both to protect domestic manufacturing and hold the dollar as the reserve currency.
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.