Large oil field, steel production capacity, or number of tractors produced do not make the company rich. The company grows rich thanks to skilled people in the right place, their excellent skills and ability to adapt to change. As Julian Simon used to say, the ultimate source of wealth is man.
In non-emergency times, the role of economic freedom, defined as a lack of interference or coercion by others in an individual’s economic decisions, has been scientifically proven to yield economic growth and prosperity for the greatest number of people.
The Czech Chamber of Deputies’ decision to introduce a high quota for domestically produced food in large shops from 2022 also belongs in these ranks: especially in times of crisis like these, more self-sufficiency must be achieved in the long term.
European Commission published its Rule of Law Report, which reported on the state of justice, corruption, media and other democratic institutions in EU countries. Michal Šimečka of the Renew Europe group called the report important but not sufficient.
As life-expectancy has increased during the past decades, governments around the world are trying to figure out a sustainable retirement-income regime. These regimes vary significantly around the world.
The socially liberal camp around the world, including much of the European liberals, have been celebrating this turning of the tides, even though it comes at a cost of further polarisation of the society in the US and elsewhere.
The fifth annual survey of Ukrainian exporters and importers1 marks growing optimism among companies regarding the already achieved AA impact, while their future assessments are marred by uncertainty.
The next five years will be crucial. Public finances should come out of huge deficits, and the lesson from the previous crisis is clear. Tax increases will never be temporary. Pulling the tax brake can serve as an additional “austerity” argument in the discussion on lowering the deficit.
The general objective of the Directive is to ensure that all EU workers are protected by minimum wages, which is essential to guaranteeing adequate working and living conditions regardless of the place of work or residence.