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The Macroeconomic Dashboard: From Financial to Corona Crisis


Worldwide, economies periodically face cyclical evolutions, economic crises, shocks generated by exogenous factors of the economic system, as is happening right now amid the health crisis caused by the COVID-19 pandemic. The common ground of these developments is the need for policies able to support the economy and to establish the necessary corrections, in accordance with

Between policies and crises: flow and reflow in monetary policy


It is more and more obvious that economic policies are not only anti-cyclical, as theory indicates us they should be. Very often, for various reasons, usually political ones, economic policies end up rather deepening the cyclical fluctuations of the economy instead of mitigating them. In this context, economic policy becomes strongly pro-cyclical, and this is valid both for monetary

Total Tax Simplification: The Abolition of Corporate Tax


Today’s fiscal world tends to institutionalise itself, informally, in a reality where many accountants ask the business owners: “Boss, this year what profit do you want us to have?”. This way, the capitalist principle of “profit maximisation” is translated through a permanent, vicious and costly tax ping-pong between businessmen and the state. And this is not because the

Euro is Dead, Long Live the Euro! On the Euro-economic Salvation of the EU


breaking-up-is-hard-to-do-but-investors-can-cushion-themselves-against-a-euro-collapse-285x280The crisis has revealed the vicious circle that the euro would have faced anyway, sometimes in the future. The reasons why some are condemning the euro are, in fact, the reasons why it should be saved. But saving the euro at all costs – “whatever it takes”, in the terms of Mario Draghi – would actually mean the failure of the common currency. If the euro won’t succeed in imposing the

“The Recent Economist”: Between Scientific Relativism and the Recourse to Ethics


In society’s evolution, ideas are the essential ferments of any change. There are no implacable laws of history and the future is not written in the stars or, to the “delight” of (macro) contemporary supporters of quantitative approaches, in the cyber-economic models that became the sterile fashion of economics journals – where exactly ‘economics’ is the endangered scientific

Cosmin Marinescu