With the federal government's new debt offensive, Germany is at a turning point in its fiscal policy. In a short space of time, the federal government has taken out loans on a historic scale - with far-reaching consequences for the state, the economy and society.
Lars P. Feld, one of Germany's most renowned economists and a long-standing economic policy advisor, explains why expansionary debt policy appears so attractive, what risks it entails and what tax and budgetary policy alternatives exist. He places the developments in historical perspective, highlights the structural causes of the current situation and outlines ways in which Germany can regain more stability in terms of fiscal policy.
Lars P. Feld, Prof. Dr. Dr. h.c., born 1966, has been Professor of Economics, in particular Economic Policy and Regulatory Economics at the University of Freiburg and Director of the Walter Eucken Institute since 2010. He is also a member of the Scientific Advisory Council to the German Federal Ministry of Finance, a member of the Minimum Wage Commission, spokesperson for the Kronberg Circle and a full member of the German Academy of Sciences Leopoldina (National Academy of Sciences). From 2011 to 2021, he was a member and, in the final year, Chairman of the German Council of Economic Experts and represented it on the Independent Advisory Council of the Stability Council from 2013 to 2021. Since February 2022, he has been Personal Representative of the Federal Minister of Finance for Macroeconomic Development.
Kai A. Konrad, Prof. Dr. Dr. h.c., is Director at the Max Planck Institute for Tax Law and Public Finance in Munich. He heads the "Public Finance" department. His scientific focus is on basic economic and financial research into the origins, functioning and financing of states and other private and public communities.
An evening in cooperation with Verlag Herder
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