A new movement called degrowth is being mentioned more and more often in the media around the world. The aim of this movement is to address current environmental challenges by abandoning the ‘economic growth paradigm.’ However, life and humanity as we know it today exist only because of economic growth. We would not be dealing with the environment today without years, decades, and centuries of economic growth.
The European Central Bank (ECB) has increased its base interest rates ten times before announcing a pause. During the October meeting, the Governing Council of this financial institution, which met in Athens, decided to halt the record-fast cycle of interest rate hikes. For many borrowers, the most pressing question is, “When will the reduction begin?” However, it is also worth considering the question of quantitative tightening.
Polystyrene, wood, reinforcement steel, and other materials have not only become expensive, but their lack in warehouses indicates that the increase of prices will continue. It is similar with notebooks, bicycles, or maize.
The main mechanism that relates human freedom to economic growth is channeled through institutional and economic factors, such as government effectiveness, investments, and trade. Therefore, institutions are an important determinant of economic prosperity in countries worldwide.
We should open our minds to the notion of individual responsibility and entrepreneurship. We have to take responsibility and the costs of our mistakes. The recipe for growth is no technocratic engineering. Growth goes through entrepreneurship, mistakes, reactions to mistakes and risk-taking. These elements are critical.
Thus, energy security recipe is a fairly simple one: more energy for a lower price.
As The Lithuania Tribune writes (quoting SEB’s Eastern Economic Outlook published in March 2012) Estonia’s growth fill fall to 1.5% in 2012 and increase again in 2013 reaching 2.5%. As a result of smaller demand in Sweden and Finland Estonian expansion is limited while high inflation continues. In 2011 Estonian GDP growth reached the level of 7.6% although a slowdon in the last quarter of the year was observed. Budget deficit is expected to reach…
