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the New Economy Ticker
The latest news, debates, proposals and developments on new economic thinking at a glance.
The people who came up with the debt package are really criticizing the coalition – Article (Paywall)
Jan Hildebrand, Julian Olk, Handelsblatt, 23.09.2025
Well-known economists advised the CDU/CSU and SPD on easing the debt brake. The consequences are evident in Klingbeil’s budget for 2026 – just not in the way several advisors had wanted.
German Economy: “Not great, but not a disaster” – Article
Simon Poelchau, Taz, 25.9.2025
Despite the billions from the special fund, economists expect only minimal growth. They are debating how things could improve again.
What this economist recommends for dealing with the AfD – Article (Paywall)
Interview by Bastian Brinkmann, DIE ZEIT, 19.09.2025
The president of the Berlin Social Science Center, Nicola Fuchs-Schündeln, has already presented her findings to the CDU/CSU and SPD.
Did the political establishment pave the way for Trump and Farage? – Article (Paywall)
John Burn-Murdoch, Financial Times, 25.09.2025
New research suggests mainstream politicians created an opening for the populist right.
This world is gambling away the future – Article (Paywall)
Commentary by Michael Bauchmüller, SZ, 24.09.2025
In September 2015, the United Nations set itself ambitious goals for sustainable development. Ten years later, it is light years away from achieving them. No one will be spared the consequences.
Global private wealth is higher than ever before – Article
DIE ZEIT, 25.09.2025
Private individuals around the world have never been richer. Their wealth is set to increase even further, but it remains unevenly distributed. Germany ranks 13th among the richest countries.
Arguments for and against higher inheritance tax – Makronom Debatte (Paywall)
In recent weeks, the discussion about reforming inheritance tax has gained momentum again. Below, we list the arguments for and against higher taxation of inheritances.
In their eyes, those who have little have only themselves to blame – Article (Paywall)
Julius Kölzer und Mark Schieritz, DIE ZEIT, 16.09.025
It is often said that a more welfare-oriented state could slow the rise of right-wing populists. However, surveys show that AfD voters have a different understanding of justice.
“Otherwise civilisation will fail” – Interview (Paywall)
Interview: Roman Pletter, ZEIT Nr. 40/2025, 17.09.2025
Nobel Prize-winning economist Paul Romer warns against leaving the future solely to Elon Musk and Silicon Valley. He says Europe must tax Google and abolish Microsoft.
Greens see trickery in the governments new investment plans – Article
Martin Greive and Jan Hildebrand, Handelsblatt, 16.09.2025
Finance Minister Klingbeil praises record investments in his first budget. The Greens criticize that the large amount of debt will be used to plug holes in the budget – and have a study to back up their claim.
Study: €16.60 per hour would be the minimum for a good life – Article (Paywall)
Levi Henze, Surplus Magazin, 17.09.2025
When are wages too low? This should not be determined purely statistically, but rather by what people need to live.
Why Mario Draghi fears Europe’s decline – Article (Paywall)
Jan Diesteldorf, Süddeutsche Zeitung, 17.09.2025
A year ago, the former head of the central bank held up a mirror to Brussels and called for fundamental economic reforms. Since then, he believes far too little has happened—and urges swift action.
The EU’s secret weapon for economic success – Article (Paywall)
Martin Sandbu, Financial Times, 18.09.2025
A year ago, the former central bank chief held up a mirror to Brussels and called for fundamental economic reforms. Since then, far too little has happened, he believes – and urges swift action.
Tech Capital Is Dominating American Politics – Interview
An interview with Thomas Ferguson, Jacobin, 17.09.2025
While Donald Trump assaults civil liberties and the social safety net, Democrats are lost. Capital’s continued dominance of both parties and Big Tech’s machinations in particular are key to understanding our political crisis, argues Thomas Ferguson.
Career advancement opportunities in Germany: Goodbye to the promise of advancement? – Article (Paywall)
A guest contribution by Georg Cremer, DIE ZEIT, 11.09.2025
Origin plays a greater role than in the past in determining what becomes of a person. Nevertheless, hard work pays off. But the education system must become more equitable.
How the political center has strengthened the AfD – Article
A guest contribution by Tom Krebs, Makronom, 09.09.2025
As long as the political center does not fundamentally question the status quo and abandon its belief in the market, it will continue to disappoint people and give further impetus to the right wing.
“More redistribution is needed to combat climate change” –Article (Paywall)
Thomas Piketty, Surplus Magazine, 11.09.2025
In an interview, Thomas Piketty explains why better protection against climate change is not possible unless inequality is reduced at the same time.
How can the debt brake be reformed? – Article
Angelika Melcher, Wirtschaftswoche, 04.09.2025
The debt brake has been criticized for years. The coalition now wants to reform it. An exclusive study shows what scenarios are possible.
Welcome to idiocracy – Article (Paywall)
A column by Mark Schieritz, DIE ZEIT, 09.09.2025
Now we are even arguing about the social security contribution assessment ceiling. Factual arguments no longer play a role. It’s all about tactical advantage.
Europe drags its heels on Draghi plan as global rivals surge – Article (Paywall)
Alice Hancock, Barbara Moens, Paola Tamma and Andy Bounds, Financial Times, 10.09.2025
A year after former Italian PM’s report on competitiveness, EU implements just 11% of his ideas.
Is Innovation or Financialization to Blame for Rising Inequality? – Commentary (Paywall)
Keun Lee, Project Syndicate, 28.08.2025
In the economics literature, there are two important lines of thinking about the causes of inequality, with some placing the blame primarily on technological innovation and others emphasizing the role of financialization. New research offers a clear answer.
Trump’s Shock Therapy Will Divide MAGA – Commentary (Paywall)
Harold James, Project Syndicate, 01.09.2025
With his unorthodox approach to politics, Donald Trump promised radical change, which he is now delivering at home and abroad. But history offers plenty of lessons about where such strategies lead, and the outcome is rarely what their proponents had in mind.
Warnings from the citadel of economic orthodoxy – Interview (Paywall)
Martin Sandbu, Financial Times, 31.08.2025
Gita Gopinath, the IMF’s outgoing number two official, reflects on six tumultuous years for the global economy.
Right-wing populists do have something that left-wing populists lack – Interview
Nancy Fraser in talk with Tobias Bachmann and Nils Markwardt, DIE ZEIT, 02.09.2025
The political left is despondent today, says US philosopher Nancy Fraser. If it wants to counter the right-wing vibe shift, it needs a new identity.
CDU’s labor wing can envision an inheritance tax reform – Article
DIE ZEIT, AFP, sko, 01.09.2025
The more left-wing section of the CDU considers a partial reform of inheritance tax to be ‘overdue’. General Secretary Carsten Linnemann would prefer to make
Majority in favour of higher taxes – also among CDU/CSU supporters – Article
Christian Basl, Tagesschau, 03.09.2025
The reputation of the federal government is at a low point after four months in office. Yet many reform proposals from the black-red coalition are well received by Germans. Many CDU supporters also consider SPD ideas for tax increases to be reasonable.
Trump conjures up a national and global economic crisis – Commentary (Paywall)
Commentary by Claus Hulverscheidt, Süddeutsche Zeitung, 26.08.2025
The president wants to get rid of a member of the US Federal Reserve’s board of directors with unproven allegations – in order to persuade them to lower interest rates. But under no circumstances should the Fed fall under the thumb of a political fanatic.
‘We are dealing with an authoritarian regime’ – Interview (Paywall)
Interview: Mark Schieritz, DIE ZEIT, 26.08.2025
Trump wants to fire a Fed governor. The president is attacking the separation of powers, says US economist Rudi Bachmann. He is pushing more and more boundaries – with fatal consequences.
Trump’s Global War on Decarbonization – Commentary
Mark Blyth and Daniel Driscoll, Project Syndicate, 21.08.2025
The Trump administration is doing everything it can to ensure that fossil fuels remain dominant in the energy mix of the twenty-first century. If it succeeds, the short-term returns to the US will be huge; but the long-term damage to the planet will be orders of magnitude larger.
Europe as a spectator – How Do We Change Our Continent’s Trajectory? – Commentary
Mario Draghi, Geopolitique, 24.08.2025
For years, the European Union, with its 450 million consumers, believed that its economic weight came along with geopolitical power and influence in international trade relations. This year will remain etched in our memories as the year when this illusion was shattered.
How the Richest People in America Avoid Paying Taxes – Article (Paywall)
Annie Lowrey, The Atlantic, 25.08.2025
A clever new paper puts concrete numbers to the taxes paid by members of the Forbes 400.
The illegitimate offspring of neoliberalism – Article (Paywall)
Oliver Weber, FAZ, 26.08.2025
Detective work on the history of ideas: Quinn Slobodian locates the sources of the populist right in a surprising place.
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.