Vor Einführung eines flächendeckenden Mindestlohns in Deutschland im Jahr 2015 war sich die Arbeitsmarktökonomik weitgehend darin einig, dass dieses 'soziale Experiment' mit erheblichen Arbeitsplatzverlusten bezahlt werden müsste. Die Begleitforschung zur Mindestlohneinführung konnte dann...

During the neoliberal era, fiscal policy was side-lined: from a political economy perspective, it was seen as biased toward deficit and debt accumulation, while from a macroeconomic perspective, its potential role as a business cycle stabiliser was shifted to monetary policy, in line with the...

This research examines impacts of austerity on the political instability in the European Union, defined as elevated levels of electoral volatility and ideological polarization. By analyzing macroeconomic theories that elucidate the effects of austerity on citizens' wealth and the national...

Keynes's Principle of Effective Demand is widely recognized not only as a major theoretical innovation but also as one of the core concepts uniting various post-Keynesian strands. However, Keynes's own treatment of the Principle of Effective Demand - known as the Z/D model and identified by...

This comment critically examines the recent claim by Alcobia and Barradas that the European Union follows a wage-led growth regime, warranting pro-labour policy intervention. While their findings support a clear policy stance, closer inspection reveals significant methodological and empirical...

Introduction: Global military expenditure increased to about $2.4 trillion in 2023, basically driven by the Russia-Ukraine war and other geopolitical tensions (SIPRI 2024). According to SIPRI, the 6.8% rise in total military spending was the largest since 2009. As a result, the global military...

The article discusses the ongoing debate about a potential paradigm shift in eco-nomics. Institutions like the Institute for New Economic Thinking, the New Economics Foundation, and the Forum New Economy have been established to foster new approaches to understanding and transforming economies....