This contribution by the President of France is what Europe needs. Finally a leader who does not say that Europe is responsible for what goes wrong and that national politics can take credit for every success. On this basis we should now start a debate on the detailed proposals. The main danger will be to avoid the slippery slope from a 'Europe that protects' to a European protectionism. The European economy will be stronger if its subject to vigorous global competition, even if that competition might at times appear unfair to some.
Lost in the debate over whether today's ultra-loose fiscal and monetary policies will trigger painful inflation is the broader risk posed by potential negative supply shocks. From trade wars and de-globalization to aging populations and populist politics, there is no shortage of inflationary threats on the horizon.
joins the great inflation debate by highlighting the neglected threat of persistent negative supply shocks.
US President Joe Biden's plan to overhaul America's outdated and self-defeating corporate-tax structure is as bold as it is necessary. With provisions to level the playing field for workers and end the global race to the bottom, it could revolutionize taxation worldwide, while stemming the increase in US government debt.
praises the US administration's corporate tax plan, and explains why its key ingredients matter.