The impact of Artificial Intelligence on the distribution of income, wealth and power will very likely reinforce the tendency toward increasing inequality that has characterised our societies in recent decades. Several proposals have emerged to address this issue, from Bernie Sanders’ one-time 50% tax on the stock of the biggest […]
The shrinking space of forgiveness: NAWRU endogeneity and the EU fiscal framework
The European Union’s fiscal policy framework imposes constraints on individual countries’ fiscal policies to ensure long-term financial sustainability. However, it is also designed to provide flexibility through the operation of “off-budget” automatic stabilisers. In practice, these rules have led to pro-cyclical measures in EU peripheral countries due to the way […]