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the New Economy Ticker
The latest news, debates, proposals and developments on new economic thinking at a glance.
Are we drowning in debt? – Interview
Interview: Dr. Kolja Rudzio und Mark Schieritz, ZEIT Nr. 28/2025, 2. Juli 2025
The coalition is jeopardising financial stability with its budget, says economics professor Lars Feld, who advised Christian Lindner. Jens Südekum, advisor to Lars Klingbeil, counters: Germany must take risks.
More climate protection would preserve prosperity according to study – Article
Spiegel, 11.06.2025
Experts have calculated two scenarios and come to the conclusion that stricter climate protection would also benefit the global economy: in the long term, the climate-friendly model results in an astonishing plus.
EU’s shift to a US savings model risks dismantling its social contract – Opinion
Daniela Gabor, Financial Times, 02.07.2025,
Political choices should be debated democratically, not hidden in technocratic agendas of ‘financing gaps’.
Holding on to gas is a crime against the future – Commentary
Ein Kommentar von Dr. Stefan Schmitt, 02.07.2025, ZEIT
Heatwaves will become more frequent in future, the climate crisis is accelerating. But our economy clearly lacks the instinct for self-preservation.
Europe Is Making a Big Mistake – Opinion
Anton Jäger, New York Times, 30.06.2025
On its current course, Europe is headed for neither military Keynesianism with a social dividend nor a defense strategy suitable for an aspiring superpower. Rather, it risks getting the worst of both worlds: a meager economic recovery without long-term prospects for growth and sumptuous payouts to a defense sector that would not allow Europe to match its peers.
‘Spain is growing faster than all other developed economies.’ – Interview
Sandra Louven, Handelsblatt, 02.07.2025
Spain is the only member state to refuse to meet the five per cent target set by NATO. In an interview with Handelsblatt, Minister Cuerpo explains why he wants to maintain this special role.
A “big, beautiful law”. For the rich. – Article
Heike Buchter, ZEIT, 01.07.2025
Donald Trump wants to fulfil all his election promises with his “Big Beautiful Bill”. But the plans are meeting with resistance – even within his own ranks.
Where the Big Beautiful Bill envisages social cuts. – Article
Jona Spreter, ZEIT, 30.06.2025
The US government is planning to make it more difficult for poorer households to access health insurance in order to finance tax cuts. An overview of the budget bill.
America is over neoliberalism and neoconservatism. Trump is not. – Opinion
Samuel Moyn, The Guardian, 03.07.2025
Between his so-called ‘big, beautiful bill’ and his bombing of Iran, Trump has confirmed he is a man of a familiar past
A Tax Victory for Multinationals Over People – Article
Joseph E. Stiglitz, José Antonio Ocampo, and Jayati Ghosh, 30.06.2025, Project Syndicate
Once again, G7 governments have decided to put the interests of multinationals ahead of the interests of developing countries, small and medium-size businesses, and their own citizens, this time by exempting US multinationals from the global minimum corporate tax agreed in 2021. The US must not be allowed to dictate global policy.
The Case for Zohranomics – Column
John Cassidy, The New Yorker, 30.06.2025
As some Wall Street billionaires melt down over Zohran Mamdani’s policy platform, a prominent progressive economist argues that it meets the moment.
A New Economic Order Needs a Moral Compass – Article
Adriana Abdenur, Project Syndicate, 18.06.2025
The alternative to a failing world order is not retreat into nationalism or technocracy, but rather bold re-commitment to shared values. Though the postwar world was not perfect, the generation that created it recognized that multilateralism and effective international institutions require a normative foundation.
Billionaires are more likely to die than emigrate – Article
Marilena Piesker, Die Zeit, 23.06.2025
The Trump Card is intended to lure the rich to the USA, and a wealth tax could drive them out of Germany. But is this really happening? Scientists have researched it.
The UK suffers from tax evasion by the rich – Article
Torsten Rieke, Handelsblatt, 24.06.2025
Wealthy people around the world are moving to tax havens. The UK is particularly hard hit by the exodus – partly due to stricter tax laws. This calls right-wing populist Farage onto the scene.
There is no time to lose with the Deutschlandfonds – Article
Jens Südekum, Handelsblatt, 18.06.2025
The German government can act directly and set up or strengthen venture capital funds aimed at start-ups in the growth phase. A guest article.
Ideas for Lars – Article
Robert Pausch, ZEIT No. 24/2025, Updated on 6 June 2025
Vice Chancellor Klingbeil wants to strengthen trust in democracy. Julia Krause, until recently head of the think tank ‘More in Common’, is to find out for him how.
Germany must create green growth – Article
A guest article by Sander Tordoir, ZEIT ONLINE, 10.06.2025
Germany is a leader in green technologies. But the black-red government risks gambling away this future with its anti-ecological rhetoric.
Reiche wants to set up new advisory group of economists – Article (Paywall)
Julian Olk, Handelsblatt, 11.06.2025
According to Handelsblatt, the CDU politician is creating an advisory group of renowned economists. It would be a challenge to the SPD – and a well-known body.
Permeable like a block of concrete – Article (Paywall)
Valentin Dornis, Süddeutsche Zeitung, 13.06.2025
A study shows how the same elites have been steering the German economy for more than 100 years – despite three system changes.
“The ‘rest of the world’ is making a comeback” – Article (Paywall)
Interview: Thomas Fischermann, ZEIT Nr. 25/2025, 16.06.2025
The global trade order is not an invention of the USA, says political researcher Amitav Acharya. A historical look at the new centres of power makes him optimistic.
German government rejects higher payments to EU – Article
Handelsblatt, 14.06.2025
Negotiations on the next financial period are beginning in the EU. More than a trillion euros are at stake. Germany is against joint debt – and is calling for spending reform.
A deficit of 100 billion euros? – Article (Paywall)
Manfred Schäfers, FAZ, 16.06.2025
Finance Minister Lars Klingbeil promises record investments. This comes at a price. The federal government will have to take on much more debt again.
The minimum wage should promote growth – Article
A guest article by Marcel Fratzscher & Geraldine Dany-Knedlik, t-online, 13.06.2025
The German Institute for Economic Research (DIW) is more optimistic about the situation in Germany than other institutions. President Marcel Fratzscher and Head of Economic Research Geraldine Dany-Knedlik explain why.
An agenda for the expert commission on the debt brake – Article
Florian Schuster-Johnson, Philippa Sigl-Glöckner, Dezernat Zukunft, 11.06.2025
We propose an agenda for the expert commission on the debt brake: It should create a clear, less complex regulatory framework, make the German and European debt rules compatible again, re-sharpen the current understanding of sustainable public finances, strengthen incentives for growth-enhancing policies and adapt the emergency situation rule to uncertain times.
Abundance for Workers – Article (Paywall)
Dani Rodrik, Project Syndicate, 10.06.2025
Advanced economies’ most glaring failure, reflected in divided societies and polarized politics, has been their inability to deliver adequate numbers of good jobs for non-college-educated workers. Those who produce abundance are those who need it the most.
Good old Europe is making a comeback – Artikel (Paywall)
Zacharias Zacharakis, DIE ZEIT, 26.05.2025
Largely unnoticed by the public, an economic upturn is creeping up on us. Europe is benefiting from the turmoil in the USA and from suppressed opportunities.
ECB’s Lagarde pitches euro alternative to dollar in ‘fracturing’ world – Artikel
Euractiv, 26.05.2025
The retreat of the US dollar could “open the door for the euro to play a greater international role”.
Klingbeil plans record investments of 110 billion euros – Artikel (Paywall)
Jan Hildebrand, Handelsblatt, 27.05.2025
The finance minister wants to increase investments by 46 percent this year. An unprecedented increase. But his calculation has a crucial catch.
This is the CV of Lars Klingbeil’s new chief economist – Artikel (Paywall)
Jan Hildebrand, Moritz Koch, Handelsblatt, 23.05.2025
Finance Minister Klingbeil makes Steinbach his chief economist. He was previously a professor in Paris, but also has government experience. A tricky problem case awaits him at the ministry.
A beautiful law and an ugly truth – Artikel (Paywall)
Heike Buchter, DIE ZEIT, 22.05.2025
Donald Trump calls his plan to cut taxes the Big Beautiful Bill. But the bill would lead to major upheaval in the country. Even his supporters see it that way.
US hands victory to China in gutting green energy tax breaks, IRA architect says – Artikel (Paywall)
Attracta Mooney, Financial Times, 23.05.2025
Former Biden top adviser predicts jobs and projects in Republican states will suffer.
Wage Stagnation and Populism: A Comment on David Brooks and Noah Smith – Blogpost
James K. Galbraith, 27.05.2025, INET
Times have changed. Now we have David Brooks, of The New York Times, and economics blogger Noah Smith defending neoliberal globalization from the pincer movement of anti-trade populists from both the right and the left.
‘Outdated and unjust’: can we reform global capitalism? – Artikel
John Cassidy, The Guardian, 08.05.2025
President Trump’s tariffs have plunged the world economy into chaos. But history counsels against despair – and the left should seize on capitalism’s crisis of legitimacy.
The new BlackRock capitalism – Article (Paywall)
Essay by Georg Diez and Aris Komporozos-Athanasiou, DIE ZEIT, 19.05.2025
Friedrich Merz worked for BlackRock, the world’s most powerful asset manager, for four years. This industry is changing Western democracies forever.
Reiche continues her reorganization of the Ministry of Economics – Article (Paywall)
Julian Olk, Handelsblatt, 14.05.2025
The new Federal Minister for Economic Affairs is reassigning various department heads – with some surprising names. Only one position is still unclear.
Debt package: Eurobonds are needed now – Article (Paywall)
Marina Guldimann and Carl Mühlbach, Surplus Magazine, 13.05.2025
Friedrich Merz has a problem in Brussels: his debt plans clash with the EU’s fiscal rules. But there is a solution.
Europe should increase its development aid – Article (Paywall)
Jayati Ghosh, Surplus Magazine, 19.05.2025
The USA is cutting its development aid. European countries should step in – also out of geopolitical interest.
What Germany’s Economy Really Needs – Article (Paywall)
Isabella M. Weber and Tom Krebs, Foreign Policy, 14.05.2025
Merz’s Plans for Rearmament and Austerity Won’t Work.
It’s not a rich list – it’s gone far beyond that. We need to talk about ‘extreme wealth’ – Article
Dhananjayan Sriskandarajah, The Guardian, 17.05.2025
We recognise extreme poverty as ruinous, but this turbo-charged affluence iscledeeply damaging too. Treat it as such.