Tag Archives: Keynesism
In economic policy, policymakers must learn from previous mistakes
It is important that policymakers are aware of previous mistakes and responsible when it comes to economic policy. In the economy, resources are limited, and that’s the reason why we can’t afford to have all at once. National fiscal policies, although they benefit from Parliament’s support, are sometimes against the rules of fiscal governance, which were also adopted by the
The Crisis and the State: from European Realities to Institutional Imperatives
Anchored, by definition, in the logic of budget balance, the Victorian fiscal morality became today, in contemporary democracy, worthy to be displayed in the museums of economic history. Nowadays, the Keynesian doctrine – in its original version or in its reloaded post-crisis version – established a true status quo of budgetary deficits and public debts. Overwhelmed by the
What We Did Not Understand from Recession: Time Matters!
During all these years (seems like forever), the recession was described as being a catastrophe, almost like the war. A scourge of the economy that becomes ruinous, especially for the contemporary civilization. However, to clarify this, the recession is not the cause, but only the effect. The recession does not reflect anything else but previous deviations of the economy from its
The Welfare State, i.e. the Redistribution That Creates Poverty
I have tried, in various studies and articles, to show why the choice of a particular taxation system is not and cannot be a scientific one, but a political issue, in essence. Further on, we also need to understand another essential idea, namely that the flat tax system is not, by definition, the foundation of a liberal fiscal policy. In fact, “the revolution” of the flat tax that occurred in
