European divergences
September 11, 2024Germans work one-third less than in 1970 Prosperity in Switzerland is based on hard work. 2112 hours a year and 20 days of vacation a year. Poland is nothing short of economic wonder. Standard of living in Poland overtaking Spain & Italy within just one generation is simply amazing. One of…
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)…
Robert Mundell, father of Europe?
April 14, 2021Well before the creation of the euro, the Canadian Robert Mundell who died a few days ago, laid out the conditions for success of a monetary union. His works won him the Nobel Prize for economics in 1999, the year that the euro launched. According to Mundell, a currency shared by a geographical region…