Inequality from the Perspectives of Public and Private Sector Innovations

Kovács, O. (2014): Inequality from the Perspectives of Public and Private Sector Innovations. ICEG European Center, News of the Month No. 67, May 2014 In this contribution we argue that, in the long run, social inequality is likely to increase over time if public and private sector innovations are not in conjunction with each other. We intend to challenge the old wisdom of economic literature that federal state can a
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Austerity vs. Stimulus – The Debate Continues

In one of his last columns, Lord Skidelsky argued that fiscal stimulus is in order given the current status of affairs of the global economy, especially the United States (Skidelsky, 2013). Why Lord Skidelsky does recommend stepping aside our threats from deficits and accumulating public debt and trying to re-invigorate the states development function through fiscal stimulus? At first blush, the question of “why” has
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History Repeats Itself: First as Tragedy, Second as Farce?

195 years ago, Karl Heinrich Marx was born on this day. Among other things, Marx stated two things: (i) history repeats itself; and (ii) rich is just getting richer, while the poor become even poorer over time. Concerning the first tenet, recent financial turmoil which has been transmogrified into an once-in-a-lifetime economic crisis also reflects the view of Olivier Blanchard, who emphasised that after the devastat
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