Current inflation is partly the result of global processes: rising energy commodity prices and disruptions in supply chains. However, its scale in individual countries is the result of the policies of individual governments.
Governments have responded to the pandemic by printing money, thus disrupting the usual economic relationships. Financial capital, which was long been regarded as a most-demanded resource, has lost its position to raw materials which in turn have lost to labor force.
Lithuania ranks 6th in the 2021 International Tax Competitiveness Index presented by the US-based Tax Foundation. Estonia maintains the top ranking and the neighboring Latvia comes second, followed by New Zealand, Switzerland and Luxembourg.
The 20th century could be referred to as the century of inflation. Monstrous inflation took place in many countries, such as hyperinflation in Germany in the 1920s, in Hungary after World War II, or in Zimbabwe and Venezuela in the recent past.
The pandemic has brought the peacefully sleeping world back from its slumber, disrupting its long-term welfare plans and forcing it to look for answers to a multitude of uncomfortable questions. COVID-19 reminded our civilization of mortality of a man.
Unfortunately, we will not celebrate the fifth year of the Bureaucracy Index in the Czech Republic with a reduction in the administrative burden. The bureaucratic burden on small businesses increased by 49 hours year-on-year to 272 hours.
The global trade Britain mastered greatly influenced our world today. Just think of the literary heroes everyone grew up with as a child. Not because they were compulsory in school but because they are culturally ubiquitous.
Some ideas have a tendency to survive in the minds of people, no matter how many times they are proven wrong. The economic nationalism, under the name of self-sufficiency or autarky, has not been a new concept. The idea dates back at least to the era of Mercantilism of the French monarchy under Louis XIV.
The cost of the state’s family policy reached PLN 70 billion in 2020. By comparison, spending on countering the COVID-19 pandemic and mitigating the effects of the economic lockdown amounted to PLN 103 billion, and spending on defense amounted to PLN 42 billion.
The COVID-19 pandemic was accompanied by unprecedented state interventions – from restrictions on basic individual freedoms to significant increases in public spending, among others, to compensate companies for the effects of the shutdown.
