Submission statement: A dialogue between two Nobel Laureates for economics on why Europe’s economy has been stagnant, despite having a considerable scientific output. Main problem seems to be excessive bureaucracy and an aversion for any form of risk.
WAGRAMWAGRAM on
You all should watch Phillipe Aghion’s conferences, he explains very well that catch up growth needs a different set of institutions than frontier growth (big conglomerates vs start-ups) and different rules of investments (banks vs venture capital) etc….And that the EU’s economic institutions aren’t made for frontier growth, privileging existing companies and employment over growth on the left and a kind of aversion to spending and 80s FMI style small business love on the Right.
2 Comments
Submission statement: A dialogue between two Nobel Laureates for economics on why Europe’s economy has been stagnant, despite having a considerable scientific output. Main problem seems to be excessive bureaucracy and an aversion for any form of risk.
You all should watch Phillipe Aghion’s conferences, he explains very well that catch up growth needs a different set of institutions than frontier growth (big conglomerates vs start-ups) and different rules of investments (banks vs venture capital) etc….And that the EU’s economic institutions aren’t made for frontier growth, privileging existing companies and employment over growth on the left and a kind of aversion to spending and 80s FMI style small business love on the Right.