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the New Economy Ticker
The latest news, debates, proposals and developments on new economic thinking at a glance.
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.
“We lack a real vision for the future” – Article (Paywall)
Stefanie Diemand, FAZ, 09.05.2025
Economist Simon Jäger advised Robert Habeck. Now he criticizes the new government for lacking courage.
From hawk to offender: Berlin’s spending ‘offensive’ saps EU fiscal rule book – Article (Paywall)
Anne-Sylvaine Chassany & Paola Tamma, Financial Times, 12.05.2025
Germany leads efforts to loosen EU debt and deficit caps as it gears up to deploy €1tn.
Economic policy of the German government: Psssst … – Article (Paywall)
Petra Pinzler and Mark Schieritz, Die ZEIT, 10.05.2025
Friedrich Merz has announced a change in policy. But the economic whisperers of the new federal government are old acquaintances.
Why 100 billion euros is not enough for cities – Article
Roland Muschel, Süddeutsche Zeitung, 02.05.2025
The twelve-figure sum is to be given to the federal states and municipalities from the federal infrastructure fund. However, no champagne corks are popping in the state chancelleries and town halls, instead skepticism prevails: What will actually reach the bottom?
Civil servants into retirement? Union rejects SPD proposal – Article, 11.05.2025
The new Minister of Labor Bärbel Bas is calling for civil servants, members of parliament and the self-employed to pay into the pension scheme. This was apparently not agreed with her coalition partner, and the CDU/CSU rejects the idea.
The old global economic order is dead – Article (Paywall)
Martin Wolf, Financial Times, 06.05.2025
China and others must think afresh as the US steps away from its role as balancer of last resort.
Why Didn’t Tariffs Push up the U.S. Dollar? – Blogpost
Brad W. Setser, Council on Foreign Relations, 05.05.2025
Tariffs were supposed to push the dollar up. What happened?
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.