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Wages linked to performance lead to increased inequality

Wage inequality is on the rise, pushed by technological change, globalisation and trade, and institutional deregulation. It is a problem of fairness. But inequality itself also has negative effects on the economy as a whole. Increasingly, this inequality can be traced back to companies and pay setting. Companies increasingly differ in their productivity and revenue. […]

European fiscal rules: reform urgently needed

The EU’s fiscal rules are currently deactivated due to the Covid-19 crisis. However, returning to the pre-Corona rules would be counterproductive. The first priority of reform efforts should be to ensure that applying the rules will not deepen economic crises and hold back recovery. The second priority should be to allow for more public investment. […]

“Like a boss” – management by algorithm is taking over at the workplace

All managerial functions are now entrusted to algorithm-powered tools, raising large expectations and new risks. This trend is not confined to platform work. No economic sector is immune to the adoption of such systems. The EU institutions are engaged in a promising process that may lead to new regulatory solutions, but social dialogue and collective […]

Reforming the financial structure of ‘small-buffers’ capitalism

We live in an advanced form of what the US economist Hyman Minsky had termed ‘money manager capitalism’ 25 years ago. Today, the dominant role played by the captains of industry in the area of industrial capitalism falls to the money managers in charge of hedge funds and pension funds. By identifying this new incarnation […]

Using the history of technological revolutions to understand the present and shape the future

The beginning of the year 2021 feels like a crossroads. We have now been through three major crises in the last 20 years, each worse than the last: the dotcom bubble of 2000, the Great Recession of 2008, and the global recession triggered by the Covid pandemic, bringing what might be the biggest economic downturn […]

Progressive agents of change

In the last decades, demands for orientation and political leadership in increasingly complex societies have risen. And so have demands of citizens for more direct participation. The current pandemic has only exacerbated these possibly contradictory developments. Progressive political parties will have to carefully readjust between citizens’ demands for more participation and inclusion on the one […]

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