All Quiet on the Eastern Front…
September 2, 2024Germany’s right-wing party AfD is much stronger in East Germany than in West Germany. The AfD’s vote share in the East is one third of all voters. The shock therapy implemented by previous governments does not seem to have worked… A little reminder : https://michelsanti.fr/en/germany/german-prosperity-a-nightmare-for-40-of-its-citizens
The Moral Duty of France
July 2, 2024Keynesianism is considered an intellectual blight, its followers viewed as members of a sect seeking the confiscation of property by a necessarily sprawling State. This is a regrettable stance because there was a time when society accepted state intervention to regulate the fundamentals—and often the excesses—of economic actors. Do we prefer to sacrifice our…
The Year 0 of Germany
March 20, 2024This is striking! The energy crisis of 2022 has been the worst economic crisis in Germany since WWII when looking at the decline of real wages. The increase in the price level is very likely permanent – those with savings have unexpectedly lost some of their purchasing power. The real estate owners (upper middle class)…
These Germans insulting Keynes and the citizens of Europe
June 8, 2021On June 2nd Wolfgang Schäuble, President of the German Bundestag and former Minister of Finance of the country decided to pen a piece for the Financial Times where he invokes multiple times the spirit of the great Keynes, quoting him on no less than six occasions!
Germany’s grave historical manipulations
April 8, 2021Proof that the economy is also – and maybe first and foremost – political, German economists are now trying to rewrite history. There are some big names attempting to fiddle with the historical facts, adjusting them to fit their theories, or rather their fears. These ordoliberals, bordering on the fanatical, are warning against hyperinflation…
2020: end of the “modern” world
November 3, 2020The collapse of the Weimar Republic was a turning point in European, even world, history. It must serve as a lesson, even almost a century on. We should indeed not forget that Chancellor Brüning – with the Great Depression in full swing – reduced public spending by more than 15 GDP percentage points, lowered…