How to Save Our Economy (Wie wir unsere Wirtschaft retten)
The Way Out of the Coronavirus Crisis
COVID-19 has unleashed serious economic consequences: How can the welfare state combat new inequalities? What threat does the immense debt pose? Will the eurozone remain stable? What will happen to climate protection? And how do we use the opportunities that this crisis opens up? In his book, which for the first time systematically combines economic and health policy, ifo President Clemens Fuest outlines the way out of the crisis. The book is published by Aufbau Verlag.
“The coronavirus will eventually be overcome, but it will change many things. Additionally, it will leave behind a mountain of public and private debt and destroy a lot of assets.”
The pandemic is an economic shock, the extent of which dwarfs every crisis the world economy has experienced since the Second World War. There is a danger of a permanent reduction in prosperity in Germany, Europe, and beyond. But this does not have to happen. How protracted the economic recovery from the crisis will be and how successful it will be depends to a large extent on the decisions that economic and financial policymakers make over the next few months and years. This book aims to make the economic consequences of the pandemic understandable and to help develop a post-crisis economic policy agenda. The main features of this agenda are presented in ten theses in the book’s final chapter.
Pandemic Recession Overshadows the Global Financial Crisis
Digitalization Gets a Boost
The EU and the Euro: Tensions Rise
In response to the coronavirus pandemic, the European Union is opening the great redistribution pot. The European Commission’s proposals benefit those countries that were already having problems during the euro crisis. The decisive factor is how the money is used. It should help countries become independent of aid, but if it leads to a decline in their own efforts and self-financed investments, it could deepen economic divergences and tensions.
Published (in German only) on July 15, 2020 by Aufbau Verlag
ISBN 978-3-351-03866-3
