economy

The conservative Law and Justice (PiS) government has conducted a calculated attack on the rule of law in Poland since it came into power in 2015, securing an overall majority in the Sejm, the lower house of the Parliament.

The COVID-19 pandemic is a serious challenge for societies around the world. In response to it not only individuals are changing their behavior, but also governments are taking various policy actions. In order to compare responses in different countries we have gathered information from a number of states.

Slovak large-scale employers want the highest possible wage compensation, looking up to the German or Austrian Kurzarbeit system, which covers up to 85% of wage costs. Journalists and some economists argue that we should borrow as much as we can.

To stop the coronavirus, most countries ceased almost all economic and social activities. As a first response to prevent an exponential growth of cases, this was probably justified. However, we will not be able to bear the costs of such a complete shutdown for a very long time.

The fight against speculation is a traditional topic for politicians, which became especially popular during the state of emergency declared on March 13, 2020. These are all topics that affect many spheres of our lives and where human action seeks a solution but politicians have put up unnecessary barriers.

Crises, particularly so severe as the one we are currently facing, have the inevitable habit of redefining the way our economic life works. The way people work, as well as the very labor market itself, will undergo significant changes.

If the ongoing lockdown – unprecedented on this scale in the modern history – is to continue for another three months or longer, we will bear witness to an economic and humanitarian catastrophe. What might follow is a massive and unpredictable social rebellion.

Do you know how to do it? You know, a corpulent guy, that politician or whomever, demonstrated it on TV. Just turn the tap on. No, don’t worry, they promised us they are reducing the water price. They even took over that company that billed us.

Oman started 2020 off on the right foot when it comes to economic freedom. A new Foreign Capital Investment Law (FCIL) came into force to visibly lower barriers to foreign investment in the Sultanate. The crucial change is that 100% foreign ownership is now possible in Oman.

Coronavirus has become water for the mill of all those who would like a strong central, authoritarian-like government. On the Polish radio, I have already heard the cries of admiration for the Chinese system, which apparently would be more effective than the European Union is.