Dirk Ehnts — Forward, comrades, we need to go backward!

Meanwhile, the German president – who has no political power – asks why neoliberalism has such a bad reputation and recommends that we should embrace it. As if reality – real estate bubbles financed by mostly non-/under-regulated (shadow) banks in the US, Ireland and Spain – never happened. As if bankers were not bailed out while workers were. As if inequality has not been rising for the last thirty years. As if lower wages for workers are creating more jobs.

The magnitude of the intellectual failure of European so-called elites is breathtaking. Both on the left and the right. We are in 2014, with the sub-prime crisis dating from 2008, and still most of their minds have not moved an inch closer to reality. There are exceptions, and I will continue to try to mention the good politicians as much as I can.

econoblog 101
Forward, comrades, we need to go backward!
Dirk Ehnts | Berlin School for Economics and Law