The weaponization of Economics

Part I of II, by Claudio Grass The field of economics has long and often very embarrassing history of absurd theories, blatantly wrong assumptions and hypotheses, spectacularly wrong predictions and entirely avoidable policymaking blunders; a few of them hilarious, most of them catastrophic, some of them literally murderous.  Overconfidence and a generous amount of hubris …

The far-reaching impact of the US election

The 2020 election was a roller coaster experience for both sides and for all International observers who understood its massive economic and geopolitical implications for the rest of the West. There was no shortage of drama, sensationalism, half-truths and full untruths at every stage of the process, from the Democratic primaries right to this day, …

US election: Red flags for investors

Part II of II Outlook and wider impact As showcased during the debates and in the entire campaign rhetoric, politicians in the US but also in Europe, are solely focused on promoting solutions that only serve to paper over the problems and address the symptoms of the disease. From “covid checks” to rent relief, and …

Modern Monetary Theory is an old Marxist Idea

There is nothing new under the sun Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the idea that governments can finance their expenditures themselves and therefore deficits don’t matter, actually …