Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Institutions’

Krise der Institutionen und das Ende der Hierarchien

Posted by hkarner - 25. Januar 2018

der ganze Artikel Furche 4_2018 Karner Artikel

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Giddy Markets and Grim Politics

Posted by hkarner - 9. Januar 2018

Economists have endless debates about whether culture or institutions lie at the root of economic performance. But there is every reason to be concerned that the recent wave of populism is a threat to both.

CAMBRIDGE – Economic growth worldwide picked up in 2017, and the best guess is that the global economy will perform strongly in 2018 as well. At the same time, a rising tide of populism and authoritarianism poses a risk to the stable democratic institutions that underlie long-term growth. And yet headlines seeming to portend political instability and chaos have not prevented stock markets from soaring. What gives?

First, the good news. Surely the largest single factor in the synchronized global upswing is that the world economy is finally leaving behind the long shadow of the 2008 financial crisis. Part of today’s good fortune is payback for years of weak demand. And the rebound is not over, with business investment finally picking up after a decade of slack, thereby laying a foundation for faster growth and higher productivity gains in the future. Den Rest des Beitrags lesen »

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How to address the EU’s democratic deficit

Posted by hkarner - 27. März 2017

Good analysis! (hfk)

Date: 23-03-2017
Source: The Economist

The institutions need reform

Voting is the easy part

THE EU’S INSTITUTIONS, built up over six decades, are not ideally suited to responding flexibly to challenges such as the single currency, migration or foreign and security policy. The club remains vulnerable to the charges of operating with a “democratic deficit” that alienates many voters.

Start with what is still the central institution, the European Commission. Headed by Jean-Claude Juncker, a long-time prime minister of Luxembourg, it is much more than a civil service; it is the guardian of the treaties, the originator of almost all legislation and the sole executor of the EU’s budget. By the standards of most governments it is also small, employing only around 33,000 people—about the same as a largish local council in one of the member countries (though commission staff command much more lavish salaries).

The Juncker commission has done some good things; in particular, it has sharply reduced the volume of regulation it proposes. Yet it suffers from having too many commissioners (28, one per member country), a defect that has been only partially dealt with by the creation of senior vice-presidents and junior commissioners. One consequence is that, even more than before, the commission is more or less run by Mr Juncker’s powerful cabinet under Martin Selmayr, a German official. The commission has also allowed itself to be influenced too heavily by the European Parliament, the only institution that can dismiss it, instead of acting as a balance between the Council of Ministers (representing national governments) and the parliament as the two co-legislators in the system. Den Rest des Beitrags lesen »

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Why European institutions cannot handle the Greek crisis

Posted by hkarner - 19. Februar 2017

Date: 17-02-2017
Source: The Economist
Subject: The European Union’s delicate political economy

GREECE’S marathon crisis is at least instructive. Past flare-ups have illustrated a textbook’s worth of economic principles. The latest episode—a dispute over the sustainability of Greece’s mammoth debt—provides a lesson in political economy. The beleaguered economy itself is not at the centre of the disagreement; rather it is the European Commission and the IMF and others that are at loggerheads, squabbling over projections of Greek growth. This sort of institutional wrangling is not incidental to the process of European integration; it has historically been a crucial ingredient, helping defang the continent’s tricky interstate relations. But as Greece’s latest turn in the spotlight demonstrates, the role of Europe’s institutions has changed during the euro-area crisis. Paradoxically, they themselves have become part of the existential threat facing the European project. Den Rest des Beitrags lesen »

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Democracy’s Broken Promises

Posted by hkarner - 6. Januar 2017

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Why Nations Fail

Posted by hkarner - 1. April 2012

Ich hoffe, dies trifft nicht auf Österreich zu. Weil der Zustand unserer Institutionen … (hfk)

Date: 01-04-2012

I’M reading a fascinating new book called “Why Nations Fail.” The more you read it, the more you appreciate what a fool’s errand we’re on in Afghanistan and how much we need to totally revamp our whole foreign aid strategy. But most intriguing are the warning flares the authors put up about both America and China.

Co-authored by the M.I.T. economist Daron Acemoglu and the Harvard political scientist James A. Robinson, “Why Nations Fail” argues that the key differentiator between countries is “institutions.” Nations thrive when they develop “inclusive” political and economic institutions, and they fail when those institutions become “extractive” and concentrate power and opportunity in the hands of only a few. Den Rest des Beitrags lesen »

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