fix articles 283105, stephan schulmeister
From Enlightenment to Counter-Enlightenment (tags)
Brilliant minds elevated "the market" into a "higher being" of the post-modern age to which we must submit. The primacy of the market replaced the primacy of politics. Dr. Schulmeister is an economic researcher in Vienna whose latest book is "The Road to Prosperity" (2019).
Ten Years After the Financial Crash (tags)
US economic statistics are dubious since financial markets are based on financial products and money out of nothing. Tax havens, micro-second betting, stock buybacks and corruption through lobbying are market-distorting and cause revenue shortfalls.
Prohibiting Micro-Second Betting on the Exchanges (tags)
The financial sector that has gone off course should serve the real economy again in the future. The exchange functions like a gigantic casino. Throwing some sand int he gears with a transactions tax would slow down the speculation.
The Struggle against Aggressive Tax Avoidance (tags)
Experts estimate a fifth of world wealth is hidden from the tax authorities of states and considerable parts of international corporate profits are not taxed. Google and Amazon parked billions in shadow financial centers. Tax avoidance makes a functioning state impossible
The Crises of Today's Economy (tags)
The market is not a subject but an instrument. Nevertheless "the primacy of the market" replaced "the primacy of politics." Neoliberalism actually serves the interests of finance capital. A doctor whose therapy causes sicknesses cannot understand this. Our elites are in great distress.
How Economists Change the World (tags)
Theory development is also a war over dominance. The goals of Hayek's war were expulsion of the Keynesians, liberalization of the financial markets, abandonment of full employment policy, dismantling the social state and weakening unions.
From real capitalism to finance capitalism and (hopefully) back (tags)
Stephan Schulmeister is an incredible Austrian economist who deserves a great English readership!
Learning from Roosevelt: HIs "New Deal" (tags)
The Civilian Conservation Corps helped overcome the basic pessimistic mood in society. Within a few months, 500,000 young persons had hope again. The government should intervene in case of an economic emergency.
In the Whirlpool of Deregulation (tags)
The economy changed from real- to finance capitalism since the 1970s. This was not an accidental development. The economic researcher Stephan Schulmeister sees a pattern where deregulation created problems that were fought with more deregulation.
Politics Serving Free Financial Markets Creates False Incentives (tags)
Stable exchange rates, a strict regulation of (financial-) capital transactions, a transactions tax and low interest rates should make financial speculation so unattractive (“euthanasia of the profiteer”) that real investments would quickly expand to maintain full employment.
Ten Theses on the Crisis and its Solution (tags)
Problems don't disappear when they are ignored. Deregulation is a collective and political crisis. Language and democracy are endangered when arsonists are called firefighters, when private losses become public losses and crime in the suits is normalized as a business model.
Alternatives to Stagnation and Depression (tags)
Politics has fought the symptoms of the great crisis with banking- and economic packages while its systemic causes remain untouched… The hardest phase of the great crisis is ahead of us, not behind us. All sectors try to safeguard their position through spending cuts...