From the Washington Consensus to the Berlin Declaration – Article
Dani Rodrik, Laura Tyson & Thomas Fricke, Makronom, 11.07.2024
At their summit near Berlin at the end of May, dozens of leading thinkers adopted a declaration on what could stop new waves of populism. This Berlin Declaration reflects a new vision that could replace decades of market-liberal dominance.

The Berlin Declaration – Winning Back the People – Article
Makronom, 11.07.2024
At the end of May, a number of leading academics and practitioners met at the invitation of the Forum New Economy for a summit near Berlin entitled “Winning Back the People”. At the end of the meeting, the “Berlin Declaration” was adopted, which sets out some key lessons for future economic policy. You can find more background information here. You can read the text of the declaration below.

What the New Left Needs – Article (Paywall)
Dani Rodrik, Project Syndicate, 10.07.2024
The new left that is emerging in Europe and the US must confront head-on both the new structure of the economy and the productivity imperative. Only then will it turn into the genuine political movement of the future and a credible alternative against today’s populist far right.

Labour’s ‘seatslide’ – Article (Paywall)
Martin Sandbu, Financial Times, 11.07.2024
When a landslide is not a mandate. (And a mandate is not a landslide.)
This article is an on-site version of Martin Sandbu’s Free Lunch newsletter.

France’s ‘hard left’ has been demonised – but its agenda is realistic, not radical  – Article
Julia Cagé & Thomas Piketty, The Guardian, 03.07.2024
The ‘Nouveau Front populaire’ will improve ordinary people’s lives – and it’s an effective, economically sound alternative to the far right.

When inflation models go wrong – Article (Paywall)
Chris Giles, Financial Times, 09.07.2024
Academic work on display at the ECB forum failed sniff and scale tests.

The German electricity market needs local prices – Article (Paywall)
Twelve energy economists, FAZ, 10.07.2024
The uniform electricity price throughout Germany means that decisions are often made that are not possible in the physics of the grid and make no economic sense. A guest article.

Stern poll on wealth tax: Mrs. Klatten, please pay up! – Article
Lorenz Wolf-Doettinchem, Stern, 09.07.2024
The majority of Germans are in favor of reintroducing wealth tax. Even voters of the CDU/CSU want the rich to contribute more. Why is this failing?

Federal budget sets wrong priorities: Here are some potential savings –  Article
Guest article by Marcel Fratzscher, Focus Online, 09.07.2024
The federal government has surprised many with its draft for the 2025 federal budget and the compromise. It is therefore positive that the federal government is reducing uncertainty for companies and citizens. At the same time, the draft for the 2025 federal budget harbors considerable potential for political conflict.

Climate change is pushing up food prices — and worrying central banks – Article
Susannah Savage, Financial Times, 03.07.2024
Shifting weather patterns are reducing crop yields and squeezing supplies, creating what could become a permanent source of inflation.

The next crisis: “shockflation”– Article (Paywall)
Bastian Brinkmann, Süddeutsche Zeitung, 01.07.2024
Interview with Isabella Weber.

Market forces are not enough to halt climate change – Article (Paywall)
Martin Wolf, Financial Times, 02.07.2024
Investor returns imply that the welfare of future human beings is close to irrelevant.

Questions in the wake of the global inflation hit – Article (Paywall)
Martin Sandbu, Financial Times, 04.07.2024
There is still too much we do not know about what happened and why

Coalition agrees on budget and growth package – Article (Paywall)
Martin Greive, Jan Hildebrand, Julian Olk, Handelsblatt, 05.07.2024
After weeks of dispute, the coalition partners have agreed on the 2025 budget. Expenditure amounts to 470 billion euros and the debt brake applies.

This is how much living standards across Germany still differ – Article
Alexander Preker, Der Spiegel, 03.07.2024
The Basic Law speaks of “equal living conditions”. The first government report on this states that the differences between the regions are generally decreasing. But not everywhere.

“Tax the rich”: majority of Germans in favor of wealth tax– Article
Bettina Menzel, Frankfurter Rundschau, 27.06.2024
A special tax on the super-rich is on the agenda for the first time at the G20 finance ministers’ meeting. The majority of people in the world’s largest economies are in favor of such a tax.

Labour is putting its plans for Britain in the hands of private finance. It could end badly – Article
Daniela Gabor, The Guardian, 02.07.2024
Handing vital infrastructure to private investment companies will generate windfalls for investors and leave the rest of us worse off. We need a better plan.

The French soul is wounded – Article (Paywall)
Ein Essay von Annika Joeres, Zeit Online, 01.07.2024
France is admired around the world for its elegance, culture and savoir-vivre. But many citizens are so offended that it is shaking up the balance of power.

Now only political experiments can help – Article (Paywall)
Ein Essay von Georg Diez, Zeit Online, 03.07.2024
The biggest threat to democracy is not right-wing extremists, but the established parties themselves. Because they have stopped believing that politics can achieve anything.

Are the new EU fiscal rules already in trouble? – Article
Maria Demertzis, Makronom, 27.06.2024
The EU fiscal rules will come into force again in September for the first time since the start of the pandemic. However, it will not be easy for the European Commission to apply the rules – there is a lot at stake.

Déclaration de Berlin in Le Monde – Article
Le Monde, 28.06.2024
Législatives 2024 : l’appel de 70 économistes internationaux pour « regagner la confiance des peuples »

From the Washington Consensus to the Berlin Declaration – Article
Dani Rodrik, Laura Tyson and Thomas Fricke, Project Syndicate, 27.06.2024
Dozens of leading economists and practitioners convened in Berlin at the end of May for a summit organized by the Forum for a New Economy. Remarkably, the summit led to something resembling a new understanding that may replace the decades-long reign of neoliberal orthodoxy.

If Democracy Isn’t Pro-Worker, It Will Die – Article
Daron Acemoglu, Project Syndicate, 20.06.2024
Democracy is in crisis throughout the industrialized world because its performance has fallen short of what was promised. Far-right and extremist parties are benefiting from the fact that the center left and center right are now associated with wage stagnation, rising inequality, and other unfavorable trends.

Europe’s progressives must reclaim ‘security’ and ‘freedom’ from the populist right – here’s how – Article
Florian Ranft, The Guardian, 20.06.2024
People fear threats from terrorism, climate crisis and disruptive technology. By working together, we can give them hope. 

How to tax the ultra-rich the same as you and me – Article
Martin Sandbu, Financial Times, 27.06.2024
G20 should give serious consideration to blueprint for global minimum standard of taxing billionaires

Is debt a burden for the young? – Article
Interview by Mark Schieritz and Nike Mosa, Die Zeit, 26.06.2024
Yes, says Max Mordhorst from the FDP: if the state borrows money, future generations will have to pay the interest. No, replies activist Carl Mühlbach: Better more loans than dilapidated schools.

Economist suggests storing grain to prepare for next global emergency – Article
Tom Perkins, The Guardian, 20.06.2024
Isabella Weber, who linked corporate profits to inflation, shares how to prevent food shortages – and price gouging

Can giant warehouses stop inflation?- Artikel (Paywall)
Benjamin Bidder, Spiegel, 21.06.2024
Hoarding against inflation: Economist Isabella Weber calls for new tools to cushion price shocks. Her idea: huge centrally managed warehouses for raw materials. But there’s a catch.

The Queen Bee of Bidenomics – Article
Farah Stockman, The New York Times, 17.06.2024
A portrait of Jennifer Harris, whose economic ideas have a decisive influence on current US economic policy.

A New Economics Playbook is About to Drop in Europe. The U.S. Should be on Notice. – Article
Victoria Guida, Politico, 21.06.2024
The former Italian prime minister is preparing to issue a sweeping report on economic competitiveness.

Shockflation Has Uprooted the European Union: High Time for New Policy Tools – Article
Jens Van’t Klooster & Isabella Weber, Le Grand Continent, 14.06.2024
In the era of “shockflation”, rising prices for households are mainly reflected in higher profits for companies. For Jens van’t Klooster and Isabella Weber, monetary policy cannot be the only answer: the EU must find the solution to contain inflation in its institutional arrangements.

The federal government lacks 40 billion, at least – Article
Christian Endt & Mark Schieritz, Zeit Online, 18.06.2024
If the traffic light coalition fails to agree on a new budget, the government is likely to collapse. These charts show how much money is missing and where it could come from.

Young people are withdrawing their trust from us – Article
Lisa Paus, FAZ, 16.06.2024
Why we urgently need an enhanced intergenerational contract. A guest article by the Federal Minister for Family Affairs.

The Vice-Chancellor’s economist – Article (Paywall)
Alexander Wulfers, FAZ, 14.06.2024
Simon Jäger is Robert Habeck’s new advisor. Can he reconcile the Minister of Economic Affairs with the economy?

Biden’s economy is booming, but a Trump victory is becoming more likely – Article (Paywall)
Katharina Kort, Annett Meiritz, Moritz Koch, Handelsblatt, 18.06.2024
Compared to other nations, the USA is doing extremely well economically. Nevertheless, most US citizens are dissatisfied and many sympathize with Donald Trump. Five developments contribute to this.

Europe must prepare for five years of radical change – Article Paywall)
Laurence Boone, Financial Times, 19.06.2024
It otherwise risks being left behind by the US and China.

A Monetary and Economic Order Fit for the Twenty-First Century – Article (Paywall)
Ulrich Volz, Janak Raj and Monica Herz, Project Syndicate, 14.06.2024
If the international community is to have a chance of addressing twenty-first-century challenges effectively and equitably, the global economic and financial architecture that was created eight decades ago must be radically reformed. Eight priorities stand out.

How Techno-Libertarians Fell in Love with Big Government – Article (Paywall)
Quinn Slobodian, Project Syndicate, 13.06.2024
In recent years, Silicon Valley’s titans, many of whom previously advocated “exiting” the United States, have been queuing to attach themselves, remora-like, to the federal government. Their supposedly principled opposition to the state vanishes as soon as the state becomes a major client.

The life and death of great political narratives – Article
Jean-Louis Missika, Makronom, 17.06.2024
The two great narratives that structured the political landscape of the 20th century no longer sell today – which explains many of the phenomena and problems that characterize contemporary politics. An essay by Jean-Louis Missika.

The Economic Effects Of Europe’s Election – Article (Paywall)
Martin Sandbu, Financial Times, 06.06.2024
How a rising right might change the EU’s policy course.

Industry calls for billions to combat investment backlog – Article
David Böcking, Spiegel, 12.06.2024
In the midst of the budget dispute between the traffic light coalition, German industry is presenting a plan to mobilize up to 400 billion euros. “Politicians are not coming up with solutions,” says BDI boss Russwurm, explaining the initiative.

Industry’s great lament – Article
Caspar Busse, Süddeutsche Zeitung, 10.06.2024
Companies and business associations are calling for a new course in Brussels after the European elections, economists are warning of a standstill: the election results are causing concern for the economy.

We need the EU to finance the transformation – Article
Dominika Biegon & Cédric Koch, FES Online, 11.06.2024
The future of the German and European economy has a financing problem. How the new EU legislature can now launch a joint investment offensive.

Chinese Exports Threaten Europe Even More Than The Us – Article
Sander Tordoir, Politico, 07.06.2024
Biden is right to heed working class voters in Pennsylvania. The Continent, which has even more to lose from a second China shock, better start listening to its workers too.

Debt brake: IW experts make three proposals for reform – Article (Paywall)
Martin Greive & Jan Hildebrand, Handelsblatt, 12.06.2024
Economists put forward ideas on how the debt brake can be reformed. Public finances should nevertheless remain sound. The reluctant FDP is lured with another argument. 

How social imbalances weigh on climate policy – Article (Paywall)
Sinan Reçber, Tagesspiegel Background, 13.06.2024
Rising costs for low-income earners and billions for the wealthy: A new think tank is entering the German debate on transformation with eleven theses on climate social policy. Founder Brigitte Knopf sees the solution in low-emission infrastructure and climate money. Some experts are critical of direct payments or see alternatives to them.

The Way Forward For Services-Led Economic Development – Article (Paywall)
Dani Rodrik & Rohan Sandhu, Project Syndicate, 10.06.2024
Today’s developing economies are in a bind, because innovation in manufacturing has taken a predominantly skill-biased form, reducing demand for workers with relatively low levels of education. This means that labor-absorbing services must become productive enough to support income growth.

What Comes After Neoliberalism? – Article (Paywall)
Project Syndicate “Big Question”, 04.06.2024
The steep tariff increases on Chinese goods that US President Joe Biden’s administration recently announced are just the latest in a long string of interventionist economic policies that fly in the face of decades of neoliberal orthodoxy. And the Biden administration is hardly alone: a growing number of governments, economists, and institutions are rethinking the free-market doctrine to which they long subscribed. In this Big Question, we ask Mehrsa Baradaran, Anne O. Krueger, Mariana Mazzucato, Dani Rodrik, Joseph E. Stiglitz, and Michael R. Strain whether the neoliberal era is ending – and if so, what will follow it.