Unleashing the Potential for EU Soft Power

Contemporary discussions on the Eastern Neighbourhood and the future of the Union following Brexit would do well to consider the role of soft power, …

A year of interest rate increases

It has been a year since the first-in-a-decade increase of the European Central Bank’s (ECB) key interest rates.
Throughout the history of the Eurozone, …

Why Singapore’s Healthcare System is Unique

Singapore’s healthcare system is the most efficient in the world, according to the latest Bloomberg health systems ranking; further, according to the Economist Intelligence …

Europe Is Missing 10,400 Billion Euros in Market Capitalisation

The need for sovereignty – digital, technological, medical, energy, or food – has become a priority, at least in the discourse. It is evident …

25 years on: “Globalisation” revisited

When I visited my parents earlier this month, I stumbled across a book which I remember using as a reference for a final-year school …

Profit-driven sustainability: The market forces behind ESG compliance

Politicians often forget that it is profit that drives firms in a society built upon the tangible benefits of capitalism, and that it is …

Implementing tax competition in Spain

The elimination of the wealth tax by the Regional Government of Andalusia to attract high-income taxpayers triggered different reactions. Some autonomous communities (ACs) decided …

Nuclear power is not the enemy

Concerns over the damage caused by climate change have prompted a global push for increased investments in renewable energy. This has led to a …

We should encourage international competition – including from China

For a quarter of a millennium, economists have been trying to dispel the myth that exports are fruitful for a country while imports are …

Migration: Mandatory solidarity or flexible subsidiarity?

Heading into the European elections next year, voters will most likely view migration as one of their top priorities. It is one of the …

The European Green Deal Is Not About the Environment

The Italian minister of economic affairs, Giancarlo Giorgetti, has warned that radicalisation of environmental policies could result in a political “crisis of rejection” of …

Space for Private Supplementary Health Insurance in Slovakia

Private supplementary health insurance is considered positively by a majority of Slovak politicians and the public. Yet, in the almost two decades after the …

Creating an EU ethics culture

Transparency and accountability are vital pillars of democratic governance. However, the series of scandals that rocked the European Union over the last few years …

Greedflation?

The last three years have brought many old ghosts to Europe. The COVID-19 pandemic was the biggest health crisis since the Spanish flu, wars …

Trapped by Taxation: How Inheritance Tax Impedes Economic Mobility

Equality of opportunity is a key foundational principle of liberalism. The most widely accepted definition of equality of opportunity among liberals is the absence …

Ticking Time Bomb: The Impending Collapse of the Pension System

Charles Ponzi became famous in the 1920s for running a $20 million fraud, whereby clients would be promised succulent profit margins from a risk-free …

Overlooked benefits of the current EU institutional set-up

In my opinion, we often overlook the benefits of the current EU. It is based on constitutional frameworks that, to a very large extent, …

How to solve a problem like inflation

After three decades of relative price stability, inflation has returned with a vengeance to the world’s advanced economies. The trend began in early 2021, …

Chat GPT vs Italy

The rest of the world is keen to adopt technological innovations, but Italy seems to be stuck in the past.
Italy’s productivity growth has …

The dangers posed by trade-off deniers

Harry Lime, the villain of the classic movie The Third Man, is an early example of the kind of smart movie villain who is not …

The EU’s Debt Dilemma

The EU is in an existential debt crisis. This crisis is often overlooked, and if it is not brought under control, it may lead …

Poland needs to tap into its wind power potential

Poland’s geographic potential for wind energy development is similar to that of industry leaders; yet, the interference of the Polish government continues to block …

Inflation Reduction Act: How protectionism affects US–EU relations

The Inflation Reduction Act signed by the Biden administration in the autumn of 2022 could be one of the most expensive climate legislation in …

Should British free-marketeers deprioritise tax cuts?

What does it mean to be a liberal?
The basic programme of liberalism has been remarkably consistent over the centuries, but the emphasis has …

Consolidated tape: A radical change to European stock exchanges

European stock exchanges are keenly waiting on the details about the implementation of a consolidated ticker tape. A stock exchange’s ticker tape reports the …

The EU’s Hydrogen Ambitions: A New Gold Fever

As European economies aim to lessen their dependence on Russia, while also keeping with plans to reach carbon emission neutrality by 2050, EU member …

The EU gas buyers’ cartel: a reality check

Since its geopolitical turn, the European Commission has time and again reiterated the need for member states to level up the EU’s autonomous security …

The failure of windfall taxes

The energy sector is in dire need of investments. However, the new government-imposed taxes in Slovakia are instead adding to the financial burden already …

Let the price mechanism do the work!

The French government has introduced a policy that makes it mandatory for parking lots with over 80 parking slots to have a roof with …

Lessons from the FTX Debacle

Once again, Bitcoin and other cryptocurrencies are being claimed dead. For many observers, the bankruptcy of the Bahamas-based trading platform FTX signals the token …

Zero-emission cars by 2035? Zero sense planning!

The EU has legislated a zero-emissions sales mandate for new cars and vans from 2035, the first of an array of green laws the …

Poland goes nuclear

European countries aim to lessen their dependence on Russia after its invasion of Ukraine while pursuing their goal of realising carbon emissions neutrality in …

EU minimum wage – Harming workers & the union’s subsidiarity

On 4 October 2022, the European Council adopted a directive to push EU member states to streamline the rules by which they set the …

Should profits on electricity and gas be taxed?

At first glance, the EU Commission’s suggestion that above-normal returns in the energy sector be taxed may seem like a reasonable and timely initiative. …

Let’s brain-drain Russia

September has not been a good month for Vladimir Putin. It opened with a Ukrainian offensive which broke Russian defences near the eastern city …

Denmark can’t solve its cost-of-living crisis with free cheques

In all likelihood, the Danes will have a general election within a month. Campaigning among the Danish politicians has been ongoing for months, although …

Meddling with the price mechanism will become a costly lesson

Inflation is soaring and the Danes are currently seeing their economic prospects being eroded by events beyond their control. The enthusiastic money-printing at the …

Why demand-side support trumps energy price caps

Imagine you buy 10 cans of beer every week, at a price of €2.50 each.
Due to a shortage of hops, the price of …

EU Gas Security: A supply-side solution

In early September, Gazprom announced an indefinite shutdown of the key Nord Stream 1 pipeline, which normally accounts for one-third of Russian gas imports …

Austerity & Tax Reform in Greece

In response to the debt crisis, the Greek government implemented excessively high tax rates in an attempt to save the country from financial collapse. …

Lack of Employability Skills; It Is Time to Wake Up!

Across European countries, this period marks the end of another academic year for many graduating students. It serves as a reminder that there is …

Reform, Deregulation, and Investment: How to Combat Romania’s Housing Crisis

Due to the severe housing crisis in Romania, the government should be putting efforts toward simplifying the property development process rather than maintaining the …

Reducing Red Tape for Polish Businesses

The standard of living crisis has been exacerbated by rising inflation and regulatory costs that have increased prices for the average consumer. As of …

Nuclear Energy Is Not a Systemic Risk

President Macron announced in February 2022 that he wanted to ‘restart the construction of nuclear reactors’ with six new reactors after the definitive closure …

The known unkowns of tax and regulatory policy

“We can see that it works” is oftentimes the argument adopted by politicians and NGOs to justify why Danes’ choices must be governed through …

Nuclear energy, not an alternative, but a necessity

Humans are currently faced with an energy transition in response to a challenge of unprecedented magnitude. In order to combat global warming, nations have …

Is a common EU energy policy feasible?

After the Russian invasion of Ukraine began on 24 February 2022, questions about energy independence in the EU and the various ways this could …

Classical liberalism vs liberal internationalism

In his speech to the World Economic Forum (WEF) in Davos last month, NATO Secretary General Jens Stoltenberg said that ‘protection of our values …

Fracking: it’s now or never

In many states across Europe, fracking is banned due to nimbyism (reluctance to be the site of fracking themselves) and pressure from green groups, …

What is the trajectory of global inflation?

Over the previous year we have heard constant talk of the transitory nature of inflation and the reasons why it will be transitory. In …

The Day of Respect for the Taxpayer

On May 11, Lithuania celebrates The Day of Respect for the Taxpayers. On this occasion, the Lithuanian Free Market Institute (LFMI) stresses that a …

The flight of big businesses weakens Putin

When big companies like Ikea and Apple leave Russia, it puts pressure on the Putin regime. Critics of globalisation are forced to realise that …

It is not NATO that is destabilising Europe

In August 1993, Russian President Boris Yeltsin travelled to Poland for an unplanned visit. The staff of the Polish Ministry of Foreign Affairs was …

Supporting Ukraine

Since the war in Ukraine intensified, a strong network of civil society united to help as much on the ground as possible.
Besides donations …

The battle for free societies

Many classical liberals dedicate their professional lives to making their societies freer, fairer, and more prosperous. We are battling bad ideas that would impoverish …

When market failure attracts rent-seekers

Market failures are not simply outcomes you do not like. They are institutional inefficiencies such as externalities (where a proportion of the cost or …

Oxfam’s bad ideas entrench poverty, disease and destitution

Oxfam is back to their old tricks, making pseudoscientific claims about inequality. It is once again hating on the rich while backing policies that will …

Will the 2020s be a good decade for classical liberals?

YES – says Alexander Hammond
It is unlikely that most people will be rampant classical liberals by 2030. Still, for the remainder of …

Energy price hikes: less moralising, more economics

The energy-price crisis is an economic problem.
It is not a moral problem. It is a matter of bringing supply and demand for various …

The Reform of Fiscal Discipline Rules should not be rushed

Fiscal Rules of the European Union
Olaf Scholz, the new German Chancellor, visited French President Emmanuel Macron on 14 December to discuss questions regarding …

Classical liberalism and the geopolitical stand-off with Russia

Generations of students of international relations (IR) at British universities have learned that liberals detest war and actively seek possibilities to eradicate conflict out …

The cracks in China’s economy

The Chinese real estate giant Evergrande has been a popular topic of conversation in recent weeks. It is not only the company’s liabilities of …

The decline in poverty and the increase in the number of billionaires go hand in hand

The Index of Economic Freedom, which is compiled every year by the Heritage Foundation, shows that the most capitalist countries have an average per capita …

How Spain hurts its youth

Agenda setting is both important and difficult. Politics tends to veer towards topical issues which are not always the most relevant. Moreover, parties tend …

Market mechanisms are the silver lining of COP26

While COP26 seems to have had lukewarm effects on the global approach towards more sustainable policies, a key takeaway is the promotion of market …

Can the CBAM ensure a cost-efficient energy transition?

The Carbon Borders Adjustment Mechanism (CBAM) is one of the key regulations to compliment the EU’s existing ETS scheme in tackling carbon leakages. As …

Can Lukashenko use migration to pit EU states against each other?

EU states neighbouring Belarus have been encountering the largest migrant flows through a newly discovered Eastern …

Can Adoption of the Danish ‘Flexicurity’ Model Reduce EU Youth Unemployment?

The pandemic has not only had a disproportionate effect on youth employment as young people were more than twice as likely to lose their …

Keynesian economics and the Italian Recovery Plan

The Italian government has recently presented the RRP (Recovery and Resilience Plan) to Parliament. On 30 April, it was sent to Brussels for initial …

Diaspora Mainstreaming in EU Development Cooperation with Africa

Diaspora communities hold incalculable potential to support their home countries and have long been acknowledged as actors for development thanks to their unique transnational …

Global inequality at lowest level for 140 years

The world has become a much better place in recent decades when it comes to poverty and prosperity: extreme poverty has been significantly reduced …

Deepening the EU-Japan EPA

The EU and Japan are like-minded: both support a rules-based, open global trade system and share similar values on democracy, freedom of expression and …

GAFAM tax: the hidden truth

The GAFAM, an acronym for US tech giants Google, Apple, Facebook, Amazon and Microsoft, are constantly – and wrongly – accused of not paying …

Prospects of a free trade deal with India

During the summer the EU Council published “A Globally Connected Europe”, in which it outlined its geopolitical strategy towards Asia, intending to deepen its …

Will centralisation resolve the EU’s asylum woes?

In June, the European Parliament and Council of the EU reached a provisional agreement to transform the European Asylum Support Office (EASO) into a …

Afghanistan is exposing the weaknesses of the EU’s security policy

The military withdrawal from Afghanistan has enabled the Taliban to gain full control of the country, which severely threatens civil rights. The rights of …

MiCA regulation: costs and missed opportunities

Since the 2018 Bitcoin crash and more recently since Facebook’s announcement of a global ‘stablecoin’ Diem, the EU has taken a greater interest in …

A Global Minimum Corporate Tax Won’t Come Without a Cost

What was once a pipedream in academic circles, a global minimum corporate tax might soon be a reality that could change the way the …

Nord Stream 2: further weakening EU strategy on Russia

The recent outrage sparked by the German-Franco proposal of an EU-Russia summit for Poland and the Baltic States shows how deeply the EU is …

A “right to disconnect” will undermine flexibility

It can be a pain when your boss rings you when you are having a TV dinner, or an important email pings on your …

Time to finish fishing subsidies

Historically the EU has subsidised certain industries, especially those in the agricultural sector. EU fisheries are no exception, with the European Maritime and Fisheries …

G7 deal on multinational tax fails to live up to the hype

The G7 agreement on new principles for taxing multinationals is not the ‘breakthrough’ that many are claiming. It probably will not make a lot …

The Future of European Democracy

The Conference on the Future of the Europe seeks to tackle the long-criticised ‘democratic deficit’ of the European Union with its emphasis on citizen …

Decarbonisation through technological freedom

Most countries are not on track to meet their promises made under the Paris Agreement, as impactful climate action is often hindered by the …

Human rights violations and the future of the EU-Turkey relationship

Recent events in Turkey have created extreme tensions between Turkey and the EU. There have been serious violations in the justice system, social life, …

The empirical evidence is clear: anti-vaping policies are pro-tobacco policies

A study published in JAMA Pediatrics this week looked a ban on e-cigarette flavours implemented in San Francisco on 1 January 2019. The ban was supposed …

Europe’s e-health status: balancing innovation and data protection

The Covid-19 pandemic accelerated the rate of digitisation in European healthcare systems. Europe’s ageing population projections estimate that by 2070 people aged 65 or …

The shadow value of personal data

Last month, civil society and regulators celebrated World Consumer Rights Day, an occasion to mark the rights of consumers. This year, the date took …

Is the ‘Zoomshock’ here to stay?

Working at home is something many of us have got used to – maybe too used to – over the last year. In a …

Rent Control: another such victory, and we are done

Last month, the Berlin Rent Control Act was found to violate the German constitution. This was the right call, but the Federal Constitutional Court …

Who ends up paying taxes?

Tax shifts are widespread – often at the expense of the consumer – but governments do not always seem to be aware of the …

Towards a new fiscal policy

In February, the Bank of Spain published its statistics on the Spanish public debt, indicating that state liabilities reached 117.08% of GDP at the …

AI Creations: Legally Protected?

Imagine you just purchased a painting from Sotheby’s called Portrait of Edmond Belamy (“Portrait”) for $432,500. Portrait was AI-generated. Your neighbour Jim takes a …

From FTAs to MRAs: The Potential Pathway forward for the EU and US

The United States lacks a comprehensive free trade agreement (FTA) with the EU, and the failed Transatlantic Trade and Investment Partnership (TTIP) negotiations during …

The case for a liberal precautionary principle

The EU’s travails over vaccine supply have revitalised calls in some free-market circles for the scrapping of the precautionary principle (PP).  This is the …

COVID vs the environment: the Kuznets Curve in action?

The COVID-19 pandemic and the accompanying lockdowns reduced global CO2 emissions by 7 percent last year. Some environmentalists, such as the University College London …

Market Monetarism in the EU: The Case for Nominal GDP Targeting

Monetary policy could become a problem for the Eurozone as we recover from the pandemic. Given the huge increases in the volatility of money, …

Vaccine Passports are the way to go for the EU

Vaccine passports are all the rage right now in the EU. One of the largest consequences of the pandemic has been significant restrictions to …

The EU’s unwarranted attack on big tech

Amidst a global populist attack on “Big Tech”, the European Union has not just failed to resist, but has embraced unwarranted attacks on some …

Lessons from vaccination strategies: the EU needs a dose of pragmatism

While the EU has been criticised for its lack of preparation, guidance, and strong unified response amidst the SARS-CoV-2 pandemic, the arrival of vaccines …

The EU-China Comprehensive Agreement on Investment is oversold

After almost seven years of discussions and negotiations, it was announced on December 30, 2020, that the EU and China concluded in principle the …

Is the EU-China Comprehensive Agreement on Investment a diplomatic loss for the EU?

In December 2020, negotiations were concluded for the highly anticipated EU-China Comprehensive Agreement on Investment (CAI). Economically, the objectives and achievements of the CAI …

Should classical liberals encourage secession?

Europe is a continent of small and medium-sized nations, and many citizens in these nations wish to form even smaller ones. Should free-market liberals …

Enough of the “coronfirmation bias”

Last spring, my colleague Chris Snowdon compiled an amusing Twitter thread highlighting examples of commentators and activists who were using the pandemic as a new excuse …

Spain’s Minimum Vital Income – a deceiving UBI

The COVID-19 crisis has not only led to a health disaster, but has also profoundly affected our economies and lifestyles. The European economy has …

Biden and the future of the transatlantic relationship

Under the Trump Administration, the world watched America retreat from globalism, international cooperation, and a committed partnership with Europe. The Trump presidency fostered American …

WHO is your nanny?

Some countries allow you to buy a beer at any time day or night. Others have total prohibition. The enormous differences in the way …

A step in the wrong direction

In September the European Parliament’s Committee on Civil Liberties, Justice and Home Affairs held a debate on the New Pact on Asylum and Migration. …

The Trade-Off between Data Privacy and Terrorism Prosecution

In light of the recent terrorist attacks in mainland Europe, the Council of the European Union has released a draft resolution to reconsider encryption …

Minimum Wage Wars in Europe

At the end of October, the European Commission proposed a Directive to introduce adequate minimum wages across the EU. Although the end objective is …

The best choice for the US economy

The American presidential election was really about choosing the lesser of two evils. The combination of Biden as president and a Republican majority in …

Resetting transatlantic climate cooperation

Everybody seems to agree that climate and energy policy is an area – possibly the area – where the difference between US President Donald …

Economic Openness and National Security Can Go Hand in Hand

The Trump administration has engaged in an all-out war against Chinese technology and its exports to the US, with the President recently signing off …

Is GAIA-X doomed to fail?

As we are nearing the end of the German presidency of the Council of the EU, it is time to assess the term’s projects …

Free Trade is a Human Right

As Joe Biden becomes the 46th President of the United States, international trade will be the center of attention again. Joe Biden is not …

Getting quickly out of crises – what do we know?

Coronavirus has resulted in a major economic crisis, and caused immense damage to both the economy and people’s lives. This damage is both a …

Crypto-Assets in European Markets – A Strategy for the Future

The European Commission recently published a Digital Finance Strategy which includes concrete propositions for the regulation of crypto-assets. This is the first time a …

Towards a more autonomous EU

The European Council President Charles Michel envisions a more “autonomous” (i.e. economically self-sufficient) EU. However, this pursuit of economic independence, under the guise of …

Lessons from Estonia

Like other issues, taxes are one of those policy areas where the differences between EU member states are greater than the commonalities. The International …

Reforming tax policy in Europe after Covid

The post-COVID world poses significant challenges for taxation policy. Our recent panel discussion with FNF was based on the recent publication of the …

Decentralise financing to improve the rule of law

The new Commission report on the rule of law in the EU has found that ‘there are serious challenges, cases where the resilience of …

Finding the right balance: EU-China relations after Covid-19

The virtual meeting between top-level EU and Chinese officials on 14 September appears to be an ironic metaphor of the increasing distance in the …

Global supply chains in a post-COVID world

COVID-19 has caused huge disruptions to global trade and supply chains, both directly and indirectly (as a result of policy responses: lockdowns, social distancing …

Rejecting Mercosur would be a lose-lose

Nearly a month ago, “Fridays for Future” speaker Luisa Neubauer met with German Chancellor Angela Merkel. According to Neubauer, Merkel assured her that she …

Trade wars & digital taxation

A digital services taxation framework within the EU has been discussed widely over the course of the last two years, with the State of …

Institutional proximity and economic freedom

The European Union has long positioned itself in a unique role in the international policy sphere. The concept of the EU as a ‘normative …

Netherland’s crackdown on e-cigarettes

The Netherlands is on the brink of introducing plain packaging for e-cigarettes. The only other country to have gone down that path is Israel. Not many …

Is populism endangering economic freedom?

Nationalism and populism have permeated the sphere of global politics in the 21st century, and the EU is no exception. This particular change in …

Labour Regulation in Europe during Covid-19

The regulation of labour and employment lies at the heart of any debate on economic freedom. State intervention into the labour market, and especially …

A German Climate Presidency

On the 1st of July, Germany took over the rotating presidency of the Council of the EU. This presidency came at an important time …

Rent controls: the revenge of Econ 101

One of the frustrating things about being an economist is that people listen to you when they shouldn’t, and refuse to listen to you …

Maximum taxation, minimal benefits for France

For the fifth consecutive year, France has been the champion of taxation, with the average French citizen paying more than half of their income …

Health or the economy? A dangerous dichotomy

During the first of two briefings on Covid-19 in his state, New York governor Andrew Cuomo stated: “If it is public health or the …

The rise of power politics

 

The Covid-19 pandemic has not only led to a health and economic crisis across Europe, but also a political one. Political leaders …

Food Security in the wake of Covid-19

Global food supply chains have been disrupted by restrictions on movement, and rising food protectionism has threatened access to food and its affordability. Emerging …

Polish Minority Rights and the EU

Polish president, Andrzej Duda, and his close political ally, the Law and Justice Party, PiS, have not been shy of controversies during this last …

An Open Letter on the EU Budget

The negotiations on the European Union’s multi-annual financial perspective for 2021-2027 are underway. The European Commission’s recently updated budget proposal with suggested measures regarding …

Presidential elections in Poland – concentrated or separated power?

Incumbent President Andrzej Duda or Mayor of Warsaw Rafal Trzaskowski? That is the choice facing Polish voters on 12 June, in the second round …

How will Covid-19 affect global trade?

In April, the World Trade Organisation (WTO) published its latest trade forecast predicting global trade in goods would fall by between 13% and 32% in 2020 …

Post-coronavirus, how should the West approach China?

Covid–19 has done more than cause a medical and economic crisis. It is provoking a major reorientation of the foreign policy of both the United …

“Next Generation EU” spending plan: Towards strengthening or weakening the EU in the long run?

While the media, right and left-wing parties and the average newspaper reader celebrate in anticipation of “helicopter money” from Brussels, or otherwise the so-called …

The end of the liberal international order

If there seems to be any consensus among academics it is that the dominant Western liberal international order is coming to an end. With …

Do low emissions zones really work?

At the moment, the general sense of alarm caused by the supposed consequences of climate change is something that is shared by all Western …

The issue at stake was not to choose between lives and the economy

We often hear that managing a crisis like coronavirus depends on societal choices. The choice would be to save lives or economies. Health and …

The fake American stimulation: an economic analysis of Coronavirus Aid, Relief, and Economic Security (CARES) Act

We almost pity American federal and state elected officials for having to deal with the situation caused by COVID-19. Overnight, social media users have …

Vaccine: we must change our absurd rules instead of castigating Sanofi

Excessively high taxes on production, exceedingly slow authorizations for market launch, and an overbearing bureaucracy. France is ensuring that innovation, especially regarding pharmaceuticals, happens …

Can ‘profiteering’ ever be justified?

Given that even ‘profit’ now seems to be dirty word, it is no surprise that being accused of ‘profiteering’ during a crisis is about …

Now is not the time to go soft on globalisation (part 2)

…continued from Part 1.
No discussion of globalisation would be complete without considering some of the myths that have over the recent years come to …

No relocation without tax and regulatory relief

French inadequacies in the face of the COVID-19 crisis are giving rise to a fully fledged attack on globalisation. We are observing an increase …

Now is not the time to go soft on globalisation

The progress that free trade and globalisation have achieved are coming under severe threat from the Covid-19 pandemic. There are siren …

Coronabonds are not necessary

To overcome the Covid-19 crisis, the European Central Bank is considering pooling debt issuances among the countries of the Eurozone in what has recently …

How fragile systems worsened the impact of COVID-19

There are features of our way of life and some of our economic systems that make outbreaks like Covid-19 more likely. The pandemic we …

The problems of financing through European mechanisms

There has been a great deal of debate recently – not just in the media, but also in academia and among economic analysts – …

COVID-19: WHO to blame?

 
Much of the WHO rhetoric on COVID-19 has treated the pandemic as an unavoidable, natural disaster devoid of blame – this is …

Carbon tax – an idea whose time has come

I was sitting in a hot tub in Leningrad in the summer of 1990 when I realised the Soviet Union would fall.
There were …

The Oil Price War

In tandem with the stock market crash, following persisting negative news regarding the coronavirus, oil prices have drastically dropped. The current demand for oil …

Coronabonds offer the wrong path

The German newspaper ‘Süddeutsche Zeitung’ published an open letter by well-known artists about an initiative to issue Coronabonds in order to share the burden …

Could ‘Lombardy Bonds’ be the answer to the Eurozone debt puzzle?

At the last Eurogroup meeting, Eurozone finance ministers agreed to set up a ‘Recovery Fund’ to help trigger an economic rebound once the lockdowns …

Why do Germany and the Netherlands oppose coronabonds?

In recent weeks, the global impact of the coronavirus has brought a huge number of new questions to the fore. For the time being …

Arguing against price controls in the face of COVID-19

Periods of economic crisis are a breeding ground for all sorts of populist ideas, often ideas that had been discarded in the past due …

Spanish lessons from the pandemic

Although the COVID-19 pandemic is by no means over, in Spain we can already start to learn some lessons that will ensure the same …

What the EU can learn from Swiss and Scandinavian carbon tax policies

The EU has established a plan to cut greenhouse gas emissions through a €1tn European Green Deal. It aims to make the entire bloc …

Coronavirus is not the end of globalisation

The outbreak of the new coronavirus COVID-19 has been described as a threat to globalisation. But spreading risk across the world is essential in …

Coronomics: the case against “Corona Keynesianism”

Even if not a technical recession (two quarters of negative growth), a severe coronavirus-induced downturn looks certain across major economies.
Markets signal it. Top economists …

Is the European Commission to blame for the absence of European champions?

Following the veto of the Alstom-Siemens merger, the European Commission has been criticised for preventing the creation of “European champions” of comparable size to …

Giving the EU-GCC Trade Relations a Chance

Oman started 2020 off on the right foot when it comes to economic freedom. Only a few days before Sultan Qaboos passed away on …

The pursuit of a more popular EU may be a risky and hazardous business

Britain has left the EU. Politicians in Brussels and Member States are seeking a mission for The Union that has broad public appeal in …

The Education Voucher, a proposal For Excellence

The idea behind education vouchers has a solid academic and research backing. This arguably began in the 1950s with Nobel Laureate Milton Friedman proposing …

France’s quest for European tech leadership

Despite being a fierce supporter of pro-Europeanism and market liberalisation in the past, Emmanuel Macron’s plans for European-wide protectionism has been relatively unsuccessful. Early …

Stop trying to make trade agreements “woke”

Trade has lifted billions of people out of poverty by fostering international cooperation, expanding consumer choice, and above all, by integrating developing economies into …

5G and Huawei’s impact on trade tensions

With increased security risks concerning Huawei’s ties with the Chinese state and the firm’s planned rollout of 5G across Europe, the European Commission appears …

The harmful effects of negative interest rates

Over the past month, six eurozone banks have dropped below the European Central Bank’s (ECB) capital requirements. As a result, they have been told …

Foreign Policy: Should the EU have one?

To start off the year, President Donald Trump approved a co-ordinated drone strike which resulted in the death of Iranian general, Qassem Soleimani. As …

A new chapter between the EU and Vietnam

In 2019, the European Commission agreed a landmark Free Trade Agreement (FTA) with Vietnam, which was ratified by the European Parliament earlier this week. …

What policy questions will be created by driverless cars?

The 2020s will see the introduction of one of the most profoundly transformative technologies for decades: the driverless car. In the world we have …

Decentralisation of the Climate Crisis: Introducing Green Visas

Neoliberals often criticise governments for overly centralising the decision making process . They argue that this makes it difficult for individual actors to intervene, …

Worst practices in reducing CO2

The Slovak government has been providing subsidies for electric cars. However, if it had bought emission permits instead and thrown them on the fire, …

Climate Crises: The myth of eco refugees

On 2nd December 2019, delegations from the United Nations convened in Madrid for COP25, the 25th annual Climate Change Conference. They gathered to discuss …

If we want to be green, trains should be taxed and not subsidised

The argument made by many such as George Monbiot that the protection of the environment requires the destruction of capitalism has no credibility given …

A new pro-science citizens’ initiative deserves support

A new student organized EU Citizens’ Initiative demands a streamlined process of authorising scientific innovations in the field of agriculture. They deserve to be …

Employment Flexibility: Policymakers Reluctant to Respond to Market Needs

The Lithuanian Free Market Institute and its partner organisations have published the third annual Employment Flexibility Index which ranks 41 EU and OECD countries …

The 20 biggest tech advances of the past 20 years

The 2010s are over. As we embark on the 2020s, now is the perfect time to reflect on the immense technological advancements that humanity …

Evaluating the Africa-EU Partnership

European companies, especially in the construction sector, have long complained that Chinese official credit lines make them less competitive by comparison in African countries. …

An Analysis of the Spitzenkandidaten Process – Part 2

Classic political theories suggest that a democratic government should have both “input” and “output” legitimacy. A political institution relies public opinion and policy preference, …

An Analysis of the Spitzenkandidaten Process – Part 1

The European Commission is meant to be the non-partisan, executive branch of the EU that consists of experts rather than politicians. However, the appointment …

Horizon 2020: A Game Changer for European 5G?

Facing the competition from North America and Asia, the European Union has proposed the launch of an ambitious €100 billion budget plan for funding …

Norwegian sugar tax sends sweet-lovers over border to Sweden

It seems unfair to call it a sweet shop. In the shopping centre north of Charlottenberg in south-western Sweden, barely four miles from Norway …

Agricultural innovation over intervention

There is reason to believe that population growth, natural resource scarcity and climate change will challenge agriculture to deliver food security in the coming …

How current funding mechanisms allow for the misuse of EU cohesion funds

The EU’s Cohesion Policy comprises almost a third of the current seven-year budget. However, there is controversy as to whether cohesion projects have been …

Competing interests: lessons from the international tax competitiveness index

According to the 2019 International Tax Competitiveness Index (ITCI) rankings, Estonia holds the most-competitive position for the sixth year in a row, while France …

A “Grave Historic Mistake” to reject EU membership for the Balkans?

Albania and North Macedonia have been left disappointed after French President Emmanuel Macron blocked membership talks for the two Balkan States. However, all hope …

Exporting Development Blueprints

The European Union’s budget for foreign aid for the 2014-2020 period is of €82 billion on. As part of a new humanitarian aid package, …

Predatory Pricing or Predatory Laws?

The European Commission has fined in July telecommunications multinational Qualcomm with €242 million as it condemns them for selling chipsets “below cost” and therefore …

The Thunberg phenomenon, Extinction Rebellion, and the denial of trade-offs

When it comes to environmental problems in general and global warming in particular, I empathise with those who take the issue seriously. I like …

The Problem with European Champions

Free market liberals will have shuddered at the news that European Commission officials have drawn up far-reaching plans for a new €100 billion fund …

Give Libra a Chance

In July 2019, G7 finance ministers and central bank governors met for a two-day conference in Chantilly, in Paris’ north. Under consideration was Libra, …

Flightless Birds

The Dutch government has recently drafted a bill in order to “charge consumers and businesses for environmentally polluting behaviors”– seeking to implement a €7 …

The Spanish nanny state takes a step back

As stated in the latest edition of EPICENTER’s Nanny State Index, Spain is one of the freer countries in the EU, coming 6th out …

EU’s zero-sum carbon game

More than three years since the signing of the Paris Climate Agreement, most of the EU member states are on board for the newly …

A new beginning – Greece after the elections

Unemployment peaked at 27.5%, more than 400,000 people emigrated in a single year, and the debt to GDP ratio reached 180%. The 2008 financial …

A Marshall Plan for the Media?

Media pluralism in Europe is under threat. Far from exhibiting a rich diversity of opinions, content, ownership and structures, Europe’s media sector faces considerable …

Connected Cars and the EU

A motorist in the average European state spends 29 hours a year stuck in traffic. This is a waste, costing drivers in the EU …

The fiscal union: a necessary step for the EMU

The 2008 crisis exposed the grave flaws of the EU’s Economic and Monetary Union (EMU). Most economists were not able to predict such economic …

Two cheers for the EU-Mercosur Agreement

There has been a great deal of cheering over the recent free trade agreement between the EU and Mercosur (the South American trade bloc …

Corrupting CAP

A tale of corruption, political scandals, and even murder: the EU’s Common Agricultural Policy (CAP) has turned agriculture in Europe into an environmentally unsustainable, …

Trade and the populist upheaval

In the recent European elections, authoritarian populist parties, gained a great number of seats (almost 24% of the total) in the European Parliament (EP). …

178: The Day of Spanish Tax Freedom

178. That is the number of days a Spanish worker has to wait until they actually begin to make any money for themselves. This …

Free trade? Merco-sure!

For almost 20 years, EU negotiations with Mercosur, the South American trade bloc, have been a great challenge. Mercosur’s economic and political issues, French …

The Cost of Independence: Is it worth the risk?

For the past 3 years, Spain’s international media coverage has mainly centered around its most controversial dispute: Catalonian secession. National media has covered the …

Reshaping Eurasian relations

The European Commission has recently begun the process of rekindling the EU’s relationship with Central Asia, located at the crossroads between the Middle East, …

Corporate Takeovers and National Champions

In April, the UK’s Competition and Markets Authority (CMA) blocked the proposed £7Bn merger of supermarket chains ASDA and Sainsbury’s. This decision came shortly …

Cherry picked winners: Why the concept of national champions is flawed

There is a current trend for corporate protectionism growing in the heart of the EU. Both the French and the German government as well …

Governments and employees are the top beneficiaries of large companies in France

For as long as capitalism has existed, debate has flourished between those who challenged its rise and those who sought to alter its direction …

Qualified Majority Voting: Promoting debate or risking division?

Ahead of the European elections, the European Commission has taken the opportunity to open a debate around EU decision-making. Its specific proposals include a …

The unintended effects of the EU’s crackdown on ‘disinformation’

It was hard not to raise a wry smile at the story of how the European Commission’s own Code of Practice on Disinformation threatened to undermine …

Opening up the Atlantic

This week, the European Council approved mandates for the European Commission to open negotiations with the United States on two trade agreements.  First, an …

The mobility package: rushed regulation

The intentions of the EU Mobility Package might be correct; to improve the conditions for long-haul truckers in the EU. As a cross-border industry, …

Copyright Directive: The Regulation That Will Change The Internet

Yesterday, the European Parliament voted in favour of the Directive on Copyright in the Digital Single Market, in one of the final stages before it becomes …

A European sugar tax: paternalistic, counterproductive, and regressive

A consumer organisation called foodwatch recently demanded that the Romanian Presidency of the Council of the EU put an end to its partnership …

Will 5G come to the EU?

It has been almost two years since GDPR entered into force. Data monitoring has become a regulatory headache for several industries and could soon …

The future of EU and Africa relations

Increasing globalisation has had many effects on international trade, and Africa is no exception. In Sub-Saharan Africa in particular, economic growth increased to 3.1% …

A threat to freedom: the EU and online terrorist content

In the field of digital rights and civil liberties, all anyone’s talking about is the Digital Copyright Directive and saving memes. However, there may …

Macron’s malaise

Macron is right: Brussels cannot continue with business as usual after the European Parliament elections. In his recent open letter to the citizens of Europe, …

Populists versus speed-bumps

In 2017 the Cambridge Dictionary proclaimed “populism” the word of the year. This phrase is defined in many ways and arouses great emotions. One …

Governmental non-government organisations in the EU

In an IEA report published in 2013, I showed that large sums of taxpayers’ money are given to political pressure groups by the European …

On regulation and centralisation, the UK’s record is no better than the EU’s

Those who voted for Brexit in the 2016 referendum on Britain’s membership of the EU rightly complained about the centralised political structures in Brussels. …

Blue card lottery

Ahead of the European elections, migration remains one of the main challenges facing the EU. Populist and Eurosceptic movements have sought political capital from …

Rice regulations: Protectionism In Disguise

In January the European Union announced a ‘significant’ increase of customs duties on Indica rice produced in Cambodia and Myanmar and exported to the …

The future of Europe is Dutch

Web of Gazprom: Will Europe escape?

Disputes between Russian Gas powerhouse Gazprom and Ukraine’s national gas company Naftogaz have sparked a firestorm of political and economic debate. The “biggest commercial …

Liberal White Smoke in Spain

The National Convention of the People’s Party (PP) which took place earlier this month may well become a turning point in the economic landscape. …

The EP “Platform-to-business relations” amendments will not make digital markets fairer

On the 26th April 2018, the European Commission adopted a proposal for regulating the relationships between online platforms and their business consumers. The initiative …

Violations of the rule of law principles in Poland despite recent amendments

On 21 November, public opinion in Poland and the EU was surprised by the ruling Law and Justice’s (PiS) proposal “backtracking on controversial reforms …

The antidote to political polarisation is less politics

A lot has been written about how social media (or digital media more generally), by creating online echo chambers and filter bubbles, increases political …

Who are the ‘Gilets Jaunes’ protestors?

The French ‘Gilets Jaunes’ started their protests a month ago and since then the global media landscape has interpreted their actions and demands in …

Either goods will cross borders, or armies will

The practice of economic sanctions is not new. 2,400 years ago, Athens declared a trade embargo on the neighbouring city state of Megara, strangling …

EU Right to Pursue Liberalization of Aviation Markets

External aviation policy in Europe was preceded by bilateral agreements between countries. At this time, aviation markets were divided up by country and dominated …

CAP Subsidies Harm the Environment

Environmental degradation is a regular by-product of agricultural practices. Greenhouse gases, mass irrigation, water quality issues, and disrupted ecosystems are all examples of side …

In Lithuania one in two would consider shadow activity in financial hardship

The shadow economy in Lithuania remains pervasive despite economic growth, and as many as one in two people would consider informal consumption and undeclared …

CAP Subsidies Impinge on Australasian Free Trade

In a world of increasing economic protectionism, the EU claims to remain committed to free and fair international trade. Yet, the Common Agricultural Policy …

Drug decriminalization: The Iberian Peninsula

Given its prominent geographical location, the Iberian Peninsula has been, for decades, one of the biggest hubs in the world for cartels smuggling cocaine …

Banning single-use plastics is a typical example of good intentions triumphing over sound judgement

The author is the former European Commissioner for Internal Market and Services.
With the Commission and Parliament both starting their last legislative year, one …

The populist hurricane

Over the last two years, the forces of populism have swept through Europe like a hurricane, wreaking havoc on the post-WW2 consensus, and ideals of international co-operation. …

In praise of the EU migration and employment “customs union”

In many ways the EU acts like a customs union when it comes to migration that leads to employment. It is very easy to …

Ageing Europe

Even though the ageing of the European population is not a new phenomenon, its potential effect on European Welfare systems is often under-estimated. According …

Why large corporations are not as greedy as they appear to be

For too long, studies have underestimated the positive externalities of large companies by solely focusing on factors such as corporate earnings. It is about …

New Copyright Directive – new restrictions to online business?

In the second voting on the subject, the European Parliament approved the Directive on copyright in the digital single market.  438 MEPs voted in …

Some very Italian midsummer night’s questions on CETA

With the Italian Parliament still deep into its summer break, several important political and economic questions are gripping the minds of many voters. Leaving …

An election without winners: Swedish politics faces an uncertain future

When Jimmie Åkesson, leader of the nationalist Sweden Democrats, entered the stage at the party’s summer festival in early August he exuded confidence: “Now …

The Turkish Lira Crisis: Why it threatens the EU and how it can be averted

In the last decade, Turkey’s economy has been experiencing high growth rates, partially due to a highly expansive monetary policy. However, in the process, …

The Price Women Pay

Political classes on both sides of the Channel were waiting patiently for the end of the EU Parliament’s recess, and for Brexit negotiations to …

Flawed EU regulations on e-cigarettes have set the market back

I ordered 200 millilitres of e-cigarette fluid from my online retailer this week. Not a large quantity – it is barely a third of …

Spanish flu: Pedro Sanchez’s malignant economic policy threatens Spain’s recovery

Having recovered from the recession that was brought about by the financial crisis, Spain’s economy is improving, but vulnerable. With the advent of Pedro …

The trouble with the EU’s digital tax

It’s time to establish a modern, fair and efficient taxation standard for the digital economy – or at least, that’s how the EU have …

State-Enforced Universal Chargers

Picture yourself at a friend’s house. Your Samsung phone buzzes, alerting you to low battery, but you’ve left your charger at home. You ask …

Should we sanction sanctions?

In recent years, Russia has been a prime target of economic sanctions – a longtime tactic in relations between Russia and the West. In …

The French Tax Burden: Is it all worth it?

French workers shoulder a far greater tax burden than the rest of their European neighbours. While the rest of the continent celebrated their Tax …

Deal or No Deal: Mexico’s Future in Trade

In a landslide victory 1 July, Mexico voted in its first third-party president. According to exit poll data, Andrés Manuel López Obrador gained more …

Is the EU-Japan EPA an inspiration for an EU-UK deal?

On Tuesday of last week, the European Union and Japan signed an Economic Partnership Agreement (EPA). Following over four years of negotiation, the EPA …

Spain’s economic revival

Is Spain due to become a more influential power within the European Union? The country is expected to become a net contributor to the …

Lithuania reforms its tax and pension system

In late June, the Lithuanian Parliament adopted a law that consolidated the employer and employee base for social security contributions and significantly cut the …

The Potential for the Italian Cannabis Market

Prior to the criminalisation of cannabis, the crop represented a significant facet of the Italian economy. In fact, in the 1940s, Italy was said …

Vestager vs Google

The European Commission decision in the Google Android case illustrates the difference in approach to antitrust issues between the US and EU.  It also …

Greek think tank KEFiM joins EPICENTER

EPICENTER is proud to announce that KEFiM, one of the fastest growing and most respected liberal, free market think tanks of Europe joined our network today. …

Flexicurity in the XXI. century

 
As the world is undergoing a third industrial revolution with the field of computer science rapidly expanding, one aspect of the labour …

The post-Soviet transition to a not so free market economy

 
Lithuania has implemented a far-reaching economic reform program aimed at facilitating the shift from a centrally-planned economy to a free market one. …

EU Measure Doesn’t Capture Poverty

The EU member states have agreed that 20 million people should be lifted out of poverty by 2020. However, the measure that the European …

Brexit offers opportunities but no guarantees in determining how free market the UK will be

The potential that Brexit provides the UK to expand its traditional free market principles cannot be understated; unilateral free trade for example could …

New Zealand is a testament to the benefits of market liberalisation – and a warning of the subsequent back peddling that can arise

Jamie Whyte at the First Economic Freedom Summit, addressing liberalising reforms in New Zealand
The transformation of New Zealand’s economic policy from 1972 …

What have the Swiss ever done for us?

This article was first published under the title “Danke, Schweiz” in the Basler Zeitung, a Swiss daily newspaper. Translation by the author.
Classical liberal …

Lithuania Commemorates the First Respect for Taxpayers Day

Today, on May 11th, Lithuania commemorates the first Respect for Taxpayers Day. On this occasion, the Lithuanian Free Market Institute (LFMI) has launched The Charter …

Doing more with less: The future of the Common Agricultural Policy post-2020

On May 2 the European Commission released a Communication that outlined the Union’s overall budgetary plan for the 2021 – 2027 Multiannual Financial Framework …

What we get wrong about technology

Fans of Blade Runner – and I am one of them – have to admit that the film has a few moments that, to modern eyes, …

A UK-EU financial deal is approaching

One year after the triggering of Article 50 an acceptable deal on financial services between the UK and the EU now looks likely. In …

How high a price will the global economy pay for Trump’s tariffs?

In a last-minute move, President Trump granted several key allies exemptions from the steel and aluminium tariffs that came into effect recently. Apart from …

The Case for Vocational Training – A German Perspective

American economist Bryan Caplan recently published “The Case Against Education” in which he explains how the United States needs to reform its current education …

Sugar taxes have never worked anywhere

‘You can’t just point at things and tax them,’ said the singer Myleene Klass to Ed Miliband in a TV debate about the ‘mansion …

A Universal Basic Income (UBI): a price worth paying to cut regulations?

Suppose the government redistributed to every adult Briton a basic, unconditional income of £10,000 from tax revenues. Would aggregate employment levels a) rise, b) …

Ill-thought legislation in Poland are more important than the cabinet reshuffle

The list of bad changes is long: lowering the retirement age, increased politicisation of the economy, a ban on Sunday trading, a ban on …

Higher Education and the importance of apprenticeships: United Kingdom & Germany

In 2017, youth unemployment (young people between 15-24, without work or enrolled in education) in the EU as a whole was on average of …

Credit and debit card charges banned – its effect on small businesses

New legislation introduced in January bans firms from charging fees for credit or debit card payments. The legislation aims to protect consumers who have …

Every promise is debt

Every euro of new debt today is a euro that is going to be paid by Italians through higher taxation, tomorrow. Until 4 March …

How to reform a broken taxi market?

High prices, long waiting times, dirty money and drivers at risk of being subjected to violence. These are some of the problems that have …

Poland on Orbán’s Lap

It is Hungarian Prime Minister Viktor Orbán who is to defend the Law and Justice (PiS) government against the consequences of violations of the …

The Human Freedom Index across Europe: Personal and Economic Freedom

How free do you think your country is? Would you believe that Estonia ranks better than the United States? Seven European countries made the …

Which is a better bet: Bitcoin or the dollar?

Keeping your funds in cash is generally viewed as much safer than holding them in stocks. This is because, on any given day, the …

Brexit as it might have been

I recently had the opportunity to take a look into a parallel universe, because [insert clever-sounding, scientifically pseudo-literate explanation here]. It was identical to …

Statutory regulation vs private regulation

The EU’s second Markets in Financial Instruments Directive (MiFID II) came into force earlier this month. According to the European Securities and Markets Authority …

No, scrapping net neutrality laws won’t kill the internet

The decision by the US Federal Communication Commission (FCC) to remove so-called “net neutrality” laws in January produced a flurry of outrage.
The American …

Black Friday for freedom and rule of law in Poland

On 24 November in many places around the world shops and their customers celebrated “Black Friday”, with promotional sales and special offers. This tradition, …

Glyphosate: the case for constructive realism

For a number of years now, the use of the glyphosate molecule as a herbicide has been controversial to the point that the member …

What finance can teach us about Catalan independence

The turmoil in Catalonia appears finally to be subsiding thanks to the central government’s intervention this weekend to restore constitutional order. The decision to …

Economic Freedom Against Poverty and Authoritarianism

Throughout history, people have lived in extreme poverty. However, it is since the industrial revolution and flowering of the Enlightenment ideas – liberal in …

A Joint Open Letter on the Posting of Workers

Posting of workers plays an essential role in the Internal Market and the cross-border provision of services. Simply put, posting of workers allows a …

Growing Strength of Populists

For the second time, the Swedish think tank Timbro has presented its “Authoritarian Populism Index”. The index “aims to shed light on whether populism …

A Joint Open Letter on the Future of EU Finance

The EU budget has been a result of political negotiations and trade-offs between Member States rather than a well-grounded financing of mutually agreed pan-European …

Europe’s non-performing loans: an Italian Problem

Within the European Union, the problem of non-performing loans (NPLs) is predominantly an Italian issue. Whilst Italian authorities have successfully passed a few different …

Danish and Polish free market think tanks join EPICENTER

EPICENTER is proud to announce that two well respected organisations, FOR from Poland and CEPOS from Denmark, will join our network of leading European …

The wrong assumptions behind a European web tax

In a recent joint letter to the Commission, Germany, France, Italy and Spain’s finance ministers announced plans to tax tech multinationals, such as Amazon …

Macron’s plan to make France less European – and more prosperous

The tables have turned. It used to be that Britain provided the blueprint for radical market-based reform, whilst France was Europe’s tax and regulatory …

The EU should avoid a tit-for-tat trade strategy with China

On 13 September, the European Commission’s President, Jean-Claude Juncker, is set to deliver his 2017 State of the Union speech. Whilst Mr Juncker wants …

£50bn is too steep for a Brexit divorce bill

The Sunday Times has claimed that the Prime Minister is ready to approve a financial settlement of ‘up to £50bn’ when the UK leaves …

Swedish Employment Subsidies and their effects on the Displacement of Jobs

Since the refugee crisis of 2015, the Swedish government has made strong efforts to implement a particularly ineffective policy. Through so-called “public relief jobs”, …

The Air Berlin-Lufthansa deal breaches EU competition laws and hurts Germans consumers

On 15 August, Air Berlin was forced to file for bankruptcy after the withdrawal of funding from Abu-Dhabi based Etihad Airways, which holds 29 …

A Response to EU Public Consultation on the Most Effective Methods in Formal and Informal Teaching and Learning

The European Commission sought public opinion on the importance of equipping young people with shared values and on how education and non-formal learning can …

Who’s afraid of free trade?

Two reports published in the last few days have advocated the benefits of free trade. You might have expected them to be well received …

Who's afraid of free trade?

Two reports published in the last few days have advocated the benefits of free trade. You might have expected them to be well received …

The EU Capital Markets Union: will progress finally accelerate?

The Capital Markets Union (CMU) was launched in 2014 by the European Commission to lower barriers to cross-border investment in the EU and to …

The European battle for London’s euro clearing market

London’s overwhelming dominance over the euro clearing market yields significant importance towards the UK’s economic performance and standing. The lucrative business is a major …

Sweden and its inconsistent alcohol laws

On 29 June, EPICENTER’s Swedish partner, Timbro, published a report examining alcohol laws in Sweden. Within the Swedish political arena, alcohol consumption has always …

Macron’s protectionist ideas will ultimately harm the whole EU

The election of Macron is starting to cause problems to Europe and – in particular – to Italy. Until a few days ago, the …

The big European Deposit Insurance Scheme dilemma

The European sovereign debt crisis that followed the 2008 financial crisis has pushed Europe to radically reform its financial rules. While some far-reaching reforms …

Cyber Security: What’s next?

In a world where the rapid development of information and communication technologies (ICTs) permeates every aspect of our daily life, the threat of cyber-attacks …

The mirage of a ‘clean Brexit’

When I went to a gym for the first time, in 1998 or so, membership options were very straightforward: you were either a member, …

A Helvetic Idea of Freedom

«Instead of conceding itself to a large sovereign decision-maker, Switzerland has preferred to remain a free international negotiator» argues Dr Carlo Lottieri, Director at …

Relocation or consolidation? Banks in Europe after Brexit

The fear that the UK-based financial industry will not be able to fully conduct all its current post-Brexit pan-European operations has prompted several London-based …

Businesses and Data Protection: are European firms ready?

The French Council of State recently asked the European Court of Justice to settle a case determining whether search engines such as Google and …

Financial regulation has gone too far and European banks are at risk

Since the last financial crisis, the EU has gradually increased its financial regulation. This has now gone too far and it contributes to the …

Germany’s battle against fake news

The German elections are just around the corner and a new anti-fake news bill, Netwerkdurchsetzungsgesetz (NetzDG), was passed by the Bundestag on 30 June …

Another summer of chaos in the Mediterranean Sea

On 26 June, we published a blog post examining the previous efforts made by the European Union in order to manage the current migration …

Moscovici’s CCCTB proposal proves unworkable both in theory and in practice

The European Commission seems unable to decide the primary function of the CCCTB; is it mainly an anti-tax-avoidance scheme or is it an exercise …

Uber: a tech pioneer or an old taxi company?

On 4 July, European Court of Justice’s Advocate General Szpunar released an opinion stating that UberPop should be considered illegal, adding to the string …

Position on EU Initiative on Restrictions on Payments in Cash

The European Commission has launched a legislative initiative on cash payment restrictions aimed at exploring the rationale for the introduction of upper limits on …

Nord Stream 2 – What’s the fuss all about?

Nord Stream 2, the project set to double gas pipeline capacity between Russia and Germany via the Baltic Sea by 2019, has recently divided …

CCCTB round 2: an exercise in unification or polarisation?

Originally suggested and then subsequently shelved in 2011, the Common Consolidated Corporate Tax Base is a policy designed to create a unified set of …

Could unilateral rights for UK nationals be the right approach for the European Union?

Since the Brexit referendum in June 2016, the debates regarding citizens’ rights have been ubiquitous. The 3Million Movement has until now strongly emphasised the …

Aviation: a Brexit no deal is (a lot) worse than a bad deal

Theresa May’s famous catchphrase ‘No deal is better than a bad deal’ does not apply to aviation where a no deal scenario following Brexit …

Are EU citizens ready for the forthcoming digital revolution?

Whether for personal or professional usage, the European Digital Single Market will revolutionise the economy of the European Union, but only if its citizens …

The EU must legislate for the future, not regulate the past: The Google fine

After a 7 year investigation, the European Commission’s Margrethe Vestager announced on 27th June a €2.4 billion fine against search engine giant Google. Google …

Managing Migration – has the European Union succeeded so far?

In 2015, Europeans were horrified by the chaos that unfolded in the Mediterranean Sea and shocked by how unprepared their national governments were to …

An ambitious EU industrial policy will not revive the European industry

The contribution of industry to the EU’s economy has been on a decline for more than 20 years. In 1991, manufacturing was responsible for …

Early Elections in Italy? An Issue of democracy, corruption, and banks

With the potential for an early election by the end of the year, Italy must face the realities of its democratic system: cronyism and …

Emmanuel Macron has won. Will he be able to deliver?

On 7 may 2017, the French elected as their new President a 39-year-old former banker, someone neither left nor right, unknown to them until …

The economic case for a more liberal immigration policy

In his now-classic work The myth of the rational voter, Bryan Caplan identifies four systematic biases about economics held by the average citizen: make-work bias …

Beware the siren voices calling for the ‘Norway option’

The Tories’ poor showing in the general election has revitalised those who favour some form of ‘soft Brexit’. In particular, there is growing support …

The EU new Consensus on Development: technocratic solutions are set to fail

The 2005 European Consensus on Development is a policy statement that commits the EU to eradicating global poverty, tackling inequalities, and building a fairer …

Book review: ‘The euro: how a common currency threatens the future of Europe’ by Joseph E. Stiglitz

Since the onset of the euro zone crisis, two schools of thought have emerged, offering different diagnoses of the single-currency area’s woes. The first …

Estonia’s eGovernance: a lesson on efficiency for the EU

In April of last year, the European Commission released the European eGovernment Action Plan 2016-2020 which lines up the goals for the EU’s progress …

The future of EU Cohesion Policy – boosting innovation instead of handouts

During the latest plenary session of the European Committee of the Regions, ECR President Markku Markkula painted a strikingly positive picture of the EU …

The Threat of Authoritarianism in the EU

Three of the EU’s most salient values are freedom, democracy, and the rule of law. However, the recent increase in support of authoritarian officials …

What would count as a ‘successful’ Brexit?

The ambiguity of the Commission’s “Harnessing Globalisation” paper

On May 10, 2017, the European Commission published its reflection paper on Harnessing Globalisation. It is the second paper in a series initiated by …

The Robot Tax: a levy on innovation, growth and job opportunities

During his recent electoral campaign, the defeated socialist French presidential candidate, Benoît Hamon, repeatedly hinted at a potentially radical proposal: To impose a tax …

Global Value Chains and EU trade policy

Earlier this year, the EU’s Trade Commissioner Cecilia Malmström spoke in Brussels about the various challenges facing EU trade policy in 2017. Talking Trump, …

Is the EU growing or getting fat?

By maintaining the imbalances of the decade of excess we are missing the opportunity to prepare for the future. The economic sentiment index in the Eurozone …

The Nanny State crusade marches on

Today sees the publication of the 2017 edition of the Nanny State Index, a league table of the best and worst places in the …

How has Erdogan’s referendum affected Turkey’s prospects for accession?

“We don’t care about the opinions of any Hans, George or Helga…” Erdogan proclaimed to the crowds at his presidential palace in Ankara, “…all …

EU-Australia Free Trade Deal

Earlier this month, a phone-call between EU Trade Commissioner, Cecilia Malström, and the Australian Trade Minister, Steven Ciobo, concluded a year-long scoping exercise on …

Let’s make EU agriculture great again: lessons from New Zealand

As the debate on the modernisation and simplification of the EU’s Common Agricultural Policy (CAP) gathers pace, European policymakers are called – once again …

Why economic forecasts get the impact of Brexit wrong

The economics profession has not exactly covered itself in glory in recent years. Few people forecasted the crash. Forecasts of economic recovery after the …

Le Pen’s plan for France’s euro exit

“As Victor Hugo once proclaimed, we have not yet done with being French”, declared Marine le Pen, launching her presidential campaign in Lyon on …

Britain should prepare for the possibility of a messy Brexit

The starting gun has been fired and the two year Article 50 process for exiting the European Union has begun.
 
Last week, both …

Information-sharing and the ‘Spirit of Schengen’

Last week, the European Parliament voted to extend the Schengen Information System (SIS II) to Croatia. This followed a two-stage assessment of the country’s …

The 2017 Spanish General State Budget

Last week, EPICENTER’s Spanish partner, CIVISMO, published a report about the Spanish General State Budget.
 
The 2017 General State Budget, presented on April …

Sea Change: How Markets and Property Rights Can Advance the Common Fisheries Policy

As the United Kingdom withdraws from the European Union, the UK Government is expected to lay claim to a 200-nautical-mile fishing border off its …

The EU should support tech giants, not attack them

The position of the European Union (Brussels) and some economic commentators on technology multinationals should not surprise us. However, it is totally wrong. It …

The Istituto Bruno Leoni Index of Globalisation: a summary

On 28 March, EPICENTER’s Italian partner, the Istituto Bruno Leoni (IBL), published its Index of Globalisation. The index covers 39 countries, including members of …

Brexit: Why time won’t tell

My track record on Brexit-related predictions has so far been abysmal. I got it wrong at every turn.
 
For a start, I was …

Money market funds in the EU – a misguided and contradictory regulation

After more than three years of discussion and contention, the European Parliament and Council agreed on a new set of regulations regarding Money Market …

Stakeholder capitalism and the free-rider problem

Professional trend-watcher David Mattin argues that so-called ‘ethical business’ is the new big thing. He raises Uber’s recent regulatory and PR woes – the …

Challenges for a Global Britain outside the European Union – Migration, Trade and Finance

Today, March 29th 2017, Prime Minister Theresa May officially triggered Article 50 of the Lisbon Treaty, thereby beginning the formal process of withdrawing the …

Swiss model for the future of Europe?

What would F.A. Hayek make of the current state of the EU? The renowned economist had a specific vision in mind: The model he …

Against Anti-Dumping Duties: Don’t Fear Cheap Chinese Steel

Following the European Commission’s steel price investigations, the European Union has adopted new anti–dumping (AD) duties on Chinese steel products in January 2017. With …

Marginal tax rates of high income earners — Interview with Jacob Lundberg

Being a commonly significant factor in workers’ decisions on hours and promotions, a country’s marginal tax rate indicates more than the mere proportion of …

Greece needs institutional reform, starting with the public sector

The challenge for Greece is how to reduce taxes without lowering government revenue in a stagnant economy that is under tight fiscal monitoring by …

The Dutch Elections mark the starting shot for a new European Union

 
The European Union can breathe a sigh of relief. Geert Wilders, a right-wing populist who wants to take the Netherlands out of the …

EU Migration policies: doing less more efficiently

On Tuesday 14th March, the European Parliament committees on Foreign Affairs and Development debated the report on the role of EU external action addressing …

What lessons can we learn from the Dutch Election?

Waves of populism have swept the globe, and the Dutch parliamentary election, to be held on 15 March, has received a lot of attention, …

Eurexit – is leaving the Eurozone an option?

The upcoming months will be decisive for the future of the Euro. The French election, to be held on April 23rd (first round, followed …

Why the EU’s public image problem cannot cloud the discussions on our future

Attempting to start a debate ahead of the EU’s summit commemorating the 60th anniversary of the Treaty of Rome, the European Commission published a …

The gender pay gap is not a problem. It is the result of free choices

Justine Greening, the women and equalities minister, is being criticised because she has rejected most of the 17 recommendations of the Women and Equalities …

Intelligent choices in the present economy: embracing robotization and Artificial Intelligence

A European Parliament resolution calling for EU-wide ethical and safety standards for robotics and Artificial Intelligence (AI), passed on 16 February, is evidence that …

A few points on Europe’s desperate need for a capital markets Union

Since the European Commission’s Action Plan on Building a Capital Markets Union in 2015, strengthening and integrating capital markets across the Union has been …

How Economically Free are the EU Member States?

The Heritage Foundation recently posted its Index of Economic Freedom for 2017, the 23rd annual index of its kind. The Member States of the …

Which of Orban’s policies in Hungary are inspiring Kaczynski in Poland?

In 2016 Hungarian prime minister Viktor Orbán received the “Man of the Year” award at the Polish Economic Forum in Krynica. It may seem …

Mercantilist arguments in the Union

Over the last few years, prominent economists, think tanks and business newspapers have come to the consensus that Germany’s trade surplus is a problem …

CETA’s long journey. Any end in sight?

The Comprehensive Economic and Trade Agreement (CETA) has had a long journey to today’s vote of consent in the European Parliament. Most of the …

ARTIFICIAL INTELLIGENCE, AUTOMATION AND THE LABOUR MARKET

Part 2, for see part 1 here.
 
The great 20th century economist Joseph Schumpeter noted that it is not our technological capabilities that …

Artificial Intelligence, automation and the labour market

Artificial Intelligence (AI), the pipe dream of cognitive scientists and engineers in the 1950s, has until recently been the domain of science fiction, though …

Inflation and the ECB: a political problem

Mario Draghi´s latest comments expressing his support for continuing the European Central Bank´s Quantitative Easing drew much controversy from northern Eurozone countries, especially Germany, …

Posted Workers Directive and Proposed Revisions

The European Union has ensured free movement between Member States for posted workers with the 1996 Posting of Workers Directive; that is, it has …

Would a Return to a National Currency without Institutions Work?

Part 3 of our Greek economy series. For Part 1 and Part 2 as well.
 
Some economists like Stiglitz claim that Greece should give …

Future EU Financing: Energy policy in the Monti Report

Last month, a group of European politicians, headed by Mario Monti released a report titled “The Future Financing of the EU”. The report, which …

Greece – the conundrum of currency and institutions

Part 2 of our Greek economy series. For Part 1, please click here.
 
The Institutional Problem Revealed through Global Indices
 
One could arguably …

Greece – the conundrum of currency and institutions

(Part 1)
 
It appears to many that Greece is a lost cause and a country that can maybe only survive outside the euro. …

The Istituto Bruno Leoni 2016 Index of Liberalisations: a summary

Last month, EPICENTER’s Italian partner, the Istituto Bruno Leoni (IBL), published the 10th edition of its ‘Index of Liberalisations’ report.
 
The study, led …

Davos 2017: The forum’s turn to the disenfranchised

The rise of protectionism and populism around the globe shaped this year’s conversations at the World Economic Forum. Overlapping with Donald Trump’s inauguration, the …

Homer Economicus: The Simpsons and Economics

“Homer Economicus. The Simpsons and Economics” is a book edited by Joshua Hall, currently Associate Professor of Economics at West Virginia University, and published …

How immigration makes us richer

Over the last few years, European politics has been profoundly shaken by the emergence of nationalist and populist parties. The rise of anti-immigration rhetoric, …

Labor Flexibility Beats Unemployment: A Closer Look at the Labor Market in Denmark

Despite Bernie Sanders’ efforts to identify Denmark with some sort of democratic socialist utopia where a highly-interventionist government regulates all the nooks and crannies …

Rethinking financial regulation

Since Donald Trump’s election, US bank stocks have risen around 24 percent. Moreover, UK bank stocks have reached 6-month highs in January, albeit tempered …

EU energy policy: let’s stop walking backwards

In order to harmonise and liberalise the EU’s internal energy market, three consecutive legislative packages of measures were adopted between 1996 and 2009, addressing …

The Fourth Industrial Revolution and its Impact on Labour

In 1821, at the height of the First Industrial Revolution, David Ricardo, one of the most influential classical economists of the late 1700s and …

Behavioural economics – a critique of its policy conclusions

Behavioural economics is not a challenge to neo-classical ways of thinking. It sits firmly within the neo-classical framework. It simply gives us a new …

There’s one international system that President Trump should withdraw from

Following Donald Trump’s victory in the US presidential election, the European press has been presenting him as an isolationist. Under President Trump, they claim, …

The economics of Christmas: the true value of Christmas presents

As the festive season approaches, it’s time for economists’ annual disquisition on the efficiency of gift-giving. This tradition was inaugurated, more than twenty years …

What’s next for Europe’s mobile network?

On December 12th, Member States’ Representatives voted to formally adopt the latest European Commission proposal to end roaming charges in the EU by June …

The failure of Magnette’s “Namur Declaration”

On December 5th, Paul Magnette, the current Minister-President of the French-speaking region of Wallonia, Belgium, unveiled his so-called “Namur Declaration”, a 3-page-long statement whose …

European Superindex

It has been one year and a half since Professor Nicola Rossi and I started the Superindex at Istituto Bruno Leoni.
 
The Superindex …

Google’s ‘monopoly’. It’s the market, baby!

The long-standing saga of the European Union’s battle against Google recently saw the addition of a new chapter. A few days ago an open …

The spectre of another lost decade

On Sunday night, following a shock negative result in a referendum on the constitutional reform he had championed, Matteo Renzi, Italy’s Prime Minister, announced …

The CAP and the struggle for development policy coherence

Since the 1992 MacSharry reform, the Common Agricultural Policy (CAP) has undergone substantial changes. However, despite a noticeable move towards less market- and trade- …

Bruno Leoni Annual Gala Dinner

Istituto Bruno Leoni celebrated its annual gala dinner earlier this November. These are challenging times for free-market ideas. However, taking a long-term view, the …

Give the people what they want

In a previous post, entitled “The changing narrative of the Euro crisis”, Diego Zuluaga argued that, while Eurozone reform was justified, European policymakers “should …

How could the world’s biggest exporter oppose freer trade?

On September 17th, more than 100,000 people took to the streets of several German cities to protest against both the Transatlantic Trade and Investment …

Initiatives Against Posted Workers – Protectionism in Disguise

Posting of workers plays an essential role in the internal market of the European Union. Drawing on the fundamental values of the free movement …

The precautionary principle and the GMO paradox

 
Since the adoption of the 1990 Directive 90/220/EEC the EU has “de facto” imposed a moratorium on cultivating GM crops.
As the European …

The Common Agricultural Policy: a drag on productivity?

Since the 1992 “MacSharry” Reform, which – among other things – scaled down price support to farmers and replaced it with direct payments, the …

Tariffs & domestic consumers

Repeat after me: tariffs primarily hurt domestic consumers – not foreign exporters
 
Tariffs primarily hurt the consumers of the country imposing them on …

The Common Consolidated Corporate Tax Base relaunched

 
The European Commission has rebooted its proposal for a Common Consolidated Corporate Tax Base. The CCCTB aims to tax multinationals operating in more …