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Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Project Syndicate’

Der 3. November 2020 – der Tag der Entscheidung für den Westen

Posted by hkarner - 28. Februar 2020

Joschka Fischer was German Foreign Minister and Vice Chancellor from 1998-2005, a term marked by Germany’s strong support for NATO’s intervention in Kosovo in 1999, followed by its opposition to the war in Iraq. Fischer entered electoral politics after participating in the anti-establishment protests of the 1960s and 1970s, and played a key role in founding Germany’s Green Party, which he led for almost two decades.

BERLIN – Das Jahr ist noch jung- und dennoch ist bereits heute seine Bedeutung abzusehen. Es wird ein Jahr der Weichenstellung, zumindest aus westlicher Sicht. Denn am 3. November 2020 findet die wichtigste Entscheidung des Jahres statt, die, soviel lässt sich bereits heute sagen, wahrhaft historische Bedeutung haben wird. An diesem ersten Dienstag im November wählen die USA ihren Präsidenten. 

Amerikanische Präsidentschaftswahlen waren und sind immer wichtig, weil dabei über die Führung der mächtigsten Nation für die Dauer von vier Jahren entschieden wird. Diesmal lautet aber die konkrete Frage, ob der amtierende Amtsinhaber, Donald Trump, wiedergewählt wird oder nicht, er also vier weitere Jahre erhalten wird, um die von Amerika seit den vierziger Jahren erfolgreich geschaffene liberale Weltordnung und deren Allianzen zugunsten eines engstirnigen Nationalismus weiter zu zerstören und am Ende gar die Demokratie und die Gewaltenteilung in den USA selbst zu gefährden. Ob er also das Mandat für vier weitere Jahre der Systemveränderung erhalten wird oder nicht. Den Rest des Beitrags lesen »

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Wall Street Can’t Burn Bernie

Posted by hkarner - 27. Februar 2020

Jeffrey D. Sachs, Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University, is Director of Columbia’s Center for Sustainable Development and the UN Sustainable Development Solutions Network. His books include The End of Poverty, Common Wealth, The Age of Sustainable Development, Building the New American Economy, and most recently, A New Foreign Policy: Beyond American Exceptionalism.

America’s plutocrats and their media allies are certain that US presidential candidate Bernie Sanders is unelectable, or that, if somehow elected, he would bring about the collapse of the republic. This disdain is both telling and absurd.

NEW YORK – The narcissism and Panglossian cluelessness of the Wall Street elite is a marvel to behold. Sitting on their perches of power, and enjoying tax breaks, easy money, and soaring stock markets, they are certain that all is best in this best of all possible worlds. Critics must be fools or devils.

When I have mentioned my support for US presidential candidate Bernie Sanders in their company, it has been to audible gasps, as if I had invoked Lucifer’s name. They are certain that Sanders is unelectable, or that, if somehow elected, he would bring about the collapse of the republic. To varying degrees, the same sentiments can be found even in “liberal” media outlets like The New York Times and The Washington Post.This disdain is both telling and absurd. In Europe, Sanders would be a mainstream social democrat. He wants to restore some basic decency to American life: universal publicly financed health care; above-poverty wages for full-time workers, along with basic benefits such as family leave for infants and paid leave for illness; college education that does not drive young adults into lifelong debt; elections that billionaires cannot buy; and public policy determined by public opinion, not corporate lobbying (which reached $3.47 billion in the United States in 2019). Den Rest des Beitrags lesen »

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The Monetarist Fantasy Is Over

Posted by hkarner - 19. Februar 2020

Robert Skidelsky, a member of the British House of Lords, is Professor Emeritus of Political Economy at Warwick University. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

UK Prime Minister Boris Johnson, determined to overcome Treasury resistance to his vast spending ambitions, has ousted Chancellor of the Exchequer Sajid Javid. But Johnson’s latest coup also is indicative of a global shift from monetary to fiscal policy.

LONDON – The forced resignation of the United Kingdom’s Chancellor of the Exchequer, Sajid Javid, is the latest sign that macroeconomic policy is being upended, and not only in the UK. In addition to completing the ritual burial of the austerity policies pursued by UK governments since 2010, Javid’s departure on February 13 has broader significance. 

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The White Swans of 2020

Posted by hkarner - 19. Februar 2020

NEW YORK – In my 2010 book, Crisis Economics, I defined financial crises not as the “black swan” events that Nassim Nicholas Taleb described in his eponymous bestseller, but as “white swans.” According to Taleb, black swans are events that emerge unpredictably, like a tornado, from a fat-tailed statistical distribution. But I argued that financial crises, at least, are more like hurricanes: they are the predictable result of built-up economic and financial vulnerabilities and policy mistakes. 

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China’s Digital Revolution in Bank Lending

Posted by hkarner - 14. Februar 2020

Huang Yiping

Huang Yiping, a former member of the Monetary Policy Committee of the People’s Bank of China, is Professor of Economics and Finance at the National School of Development and Director of the Institute of Digital Finance, Peking University, and a member of the International Monetary Fund’s External Advisory Group on Surveillance.

China has long recognized the importance of increasing small and medium-size enterprises‘ access to finance; now, online banks have found the solution the country needs. This could be a boon not only for growth and innovation, but also for broader financial inclusion – in China and beyond.

BEIJING – China’s economy is growing at is lowest rate in over 30 years, but if the country’s nearly 40 million small and medium-size enterprises (SMEs) could overcome a lack of access to funding, they could become a powerful engine of economic dynamism. Can digital innovators close the SME financing gap?

China’s government has certainly tried. Since 2005, policymakers have been working to expand access to financial services for SMEs, as well as for low-income households. Measures have included the establishment of more than 8,000 micro-credit companies, higher annual SME loan requirements for banks, and a mandatory reduction in the average interest rate on loans to SMEs, by one percentage point per year in 2018 and 2019. Den Rest des Beitrags lesen »

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New Firms for a New Era

Posted by hkarner - 14. Februar 2020

Date: 12‑02‑2020

Source: Project Syndicate by Dani Rodrik

Dani Rodrik, Professor of International Political Economy at Harvard University’s John F. Kennedy School of Government, is the author of Straight Talk on Trade: Ideas for a Sane World Economy. 

In recent years, large corporations have become increasingly aware that they must be sensitive not only to the financial bottom line, but also to the social and environmental effects of their activities. But societies should not allow firms‘ owners and their agents to drive the discussion about reforming corporate governance.

CAMBRIDGE – Firms are the cornerstone of the modern economy. The bulk of production, investment, innovation, and job creation takes place within them. Their decisions determine not only economic performance, but also the health and wellbeing of a society. But who should govern firms, and on whose behalf should those decisions be made?

The conventional theory under which our contemporary economies operate is that firms are governed by – or on behalf of – investors. This theory posits a clear separation between owners and employees – between capital and labor. Investors own the firm and they must make all the relevant decisions. Even where this is impractical, as in larger firms with multiple investors, the presumption is that managers are “agents” of the investors – and of investors alone. Den Rest des Beitrags lesen »

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Europe Must Recognize China for What It Is

Posted by hkarner - 13. Februar 2020

Date: 11‑02‑2020

Source: Project Syndicate by George Soros

George Soros is Chairman of Soros Fund Management and the Open Society Foundations. A pioneer of the hedge‑fund industry, he is the author of many books, including The Alchemy of Finance, The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What it Means, and The Tragedy of the European Union: Disintegration or Revival? His most recent book is In Defense of Open Society (Public Affairs, 2019). 

Chinese President Xi Jinping will meet the heads of state and government of the 27 EU member states at the EU‑China summit in Leipzig in September. Europeans need to understand that they will hand him a much‑needed political victory unless he is held accountable for his failure to uphold human rights, particularly in Tibet, Xinjiang, and Hong Kong.

MUNICH – Neither the European public nor European political and business leaders fully understand the threat presented by Xi Jinping’s China. Although Xi is a dictator who is using cutting‑edge technology in an effort to impose total control on Chinese society, Europeans regard China primarily as an important business partner. They fail to appreciate that since Xi became president and General Secretary of the Communist Party of China (CPC), he has established a regime whose guiding principles are diametrically opposed to the values on which the European Union was founded.

The rush to embrace Xi is greater in Britain, which is in the process of separating itself from the EU, than in the EU itself. Prime Minister Boris Johnson wants to distance the United Kingdom from the EU as much as possible and to build a free‑market economy that is unconstrained by EU regulations. He is unlikely to succeed, because the EU is prepared to take countermeasures against the type of deregulation that Johnson’s government seems to have in mind. But in the meantime, Britain is eyeing China as a potential partner, in the hope of reestablishing the partnership that former Chancellor of the Exchequer George Osborne was building between 2010 and 2016. Den Rest des Beitrags lesen »

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Die Macht Europas nutzen

Posted by hkarner - 10. Februar 2020

Josep Borrell

Josep Borrell is EU High Representative for Foreign Affairs and Security Policy and a vice president of the European Commission.

BRÜSSEL – Angesichts der geopolitischen Umwälzungen, die wir gegenwärtig erleben, ist es für die Europäische Union umso dringlicher, ihren Platz in einer Welt zu finden, die zunehmend von reiner Machtpolitik bestimmt ist. 

Dies ist eine Welt des geostrategischen Wettbewerbs, in der einige führende Politiker nicht davor zurückschrecken, Gewalt einzusetzen, und in der wirtschaftliche und andere Instrumente zu Waffen werden. Wir Europäer und Europäerinnen müssen unsere geistigen Landkarten anpassen, um mit der Welt so umzugehen, wie sie ist, und nicht so, wie wir sie uns erhofft hatten. Um zu vermeiden, dass wir zu den Verlierern des Wettbewerbs zwischen den USA und China werden, müssen wir die Sprache der Macht neu erlernen und uns selbst als geostrategischen Akteur der obersten Kategorie begreifen.Es mag zunächst schwierig erscheinen, sich dieser Herausforderung zu stellen. Die EU wurde schließlich gegründet, um die Machtpolitik abzuschaffen. Sie hat für Frieden und Rechtsstaatlichkeit gesorgt, indem sie die Hard Power von der Wirtschaft, der Regelsetzung und der Soft Power getrennt hat. Wir waren davon ausgegangen, dass Multilateralismus, Öffnung und Gegenseitigkeit nicht nur für unseren Kontinent, sondern auch für die Welt insgesamt das beste Modell sei. Den Rest des Beitrags lesen »

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Europe Lives On

Posted by hkarner - 9. Februar 2020

Date: 07‑02‑2020

Source: Project Syndicate by Bernard‑Henri Lévy

Bernard‑Henri Lévy is one of the founders of the “Nouveaux Philosophes” (New Philosophers) movement. His books include Left in Dark Times: A Stand Against the New Barbarism, American Vertigo: Traveling America in the Footsteps of Tocqueville, and most recently, The Empire and the Five Kings.

 There is no denying that the United Kingdom’s withdrawal from the European Union represents a loss for all involved, and strikes a blow against the very idea of Europe. But while Britain has left Europe, Europeans should not abandon the British legacy – particularly the deep, historical commitment to liberalism.

PARIS – Brexit is a disaster for the United Kingdom. Given the risk that it will now lose Scotland and Northern Ireland to secession, the country seems to have accepted the idea of Great Britain turning back into “Little England.” Britain is that rare lion that chooses to become as small as a mouse.

 To be sure, saving the English realm is all the Brexiteers ever cared about. But what sort of realm has a prime minister who lies to its queen, as Boris Johnson did when he suspended Parliament last year? Through it all, the Brexiteers have exalted the British Empire and Winston Churchill. Yet they have forgotten Karl Marx, an earlier wanderer of the London streets who warned that history eventually repeats itself as farce. With Johnson in power, the UK is governed by a pantomime Churchill. Rather than an exponent of courage, it has the Prince of Cynicism – a scruffy knock‑off who adapts his opinions to whatever is politically expedient. Den Rest des Beitrags lesen »

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Europe Needs a DARPA

Posted by hkarner - 7. Februar 2020

Date: 06‑02‑2020

Source: Project Syndicate by Dalia Marin

Dalia Marin is Chair of International Economics at the University of Munich and a research fellow at the Centre for Economic Policy Research. 

Germany needs an industrial revival of the sort it experienced in the late nineteenth century, but this will be possible only if the state offers technological backing to German companies. The US government’s successful Defense Advanced Research Projects Agency should serve as a model for Germany and Europe to follow.

MUNICH – The mood in Germany is bleak, and not just because of the country’s current economic slowdown. Long famed for its engineering know‑how and high‑quality industrial products, the German economy is now in danger of falling behind as software and data become increasingly crucial to future prosperity.

And the recent news that US technology company Apple is now worth more than the entire DAX index of 30 leading German companies has no doubt deepened the gloom among business leaders and policymakers. If German firms don’t adapt quickly, some may struggle to survive. Den Rest des Beitrags lesen »

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