In recent months, many countries have introduced enormous stimulus packages to help their economies overcome the devastation caused by the COVID-19 crisis. In Germany, the government made available emergency funds, created sector-specific relief programmes, and implemented demand stimulus measures such as a temporary reduction in the sales tax rate.
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 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 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.
Lithuania’s new coalition government comprised of the conservative Homeland Union-Christian Democrats, the Freedom Party, and the Lithuanian Liberal Movement has put this reform option back on Lithuania’s agenda.
Prior to the crisis triggered by the COVID-19 outbreak, the Lithuanian economy had been enjoying a rapid growth. Yet, while the number of available jobs had been increasing, the number of unemployed had remained steadily high.
In cooperation with the Academy of Liberalism, the Friedrich Naumann Foundation for Freedom has just released a podcast devoted to the topic of “Baltic Buuble: COVID-19″. The episode focuses on how much COVID-19 has influenced the economy of the Baltic countries and how dark or bright is the future?
Berlin’s recently introduced rent control policy is Germany’s single most stringent rent regulation tool. The law prohibits any rental increases for a period of five years. In the case of new rentals, the rent a landlord is allowed to charge is determined by fixed reference values based on the age and fittings of the unit in question.