The End of Fiscal Conservatism? The largest shift in economic policymaking in a generation

A politician seen not advocating for fiscal conservatism is to flirt dangerously close with the label of being fiscally irresponsible. For decades now, policymakers in the US kept a tight rein on public finances to ensure the public debt ratio stays low, while the central bank routinely seeks to contain economic booms and busts. Exercising fiscal discipline has always been synonymous with good governance, or so we thought.

Continue reading “The End of Fiscal Conservatism? The largest shift in economic policymaking in a generation”

The New European Tech Doctrine Part II: How Aggressive European Policy is reshaping the future of big-tech

In spite of criticism over excessive bureaucracy, the EU has undeniably taken the lead over the US in new regulation of big-tech; these ideas will significantly impact the future activities of Silicon Valley’s largest firms. Europe is an increasingly important source of technology revenue; Amazon, Apple, Facebook, and  Microsoft each reported a quarter of annual revenue from the continent in 2018. As the world’s largest single economic bloc, the standards of the EU are often copied as benchmarks for the developing world; hence European policy could have a knock-on effect on attitudes to big-tech globally.  European economic power is matched with tough restrictions on lobbying and unification of legal standards across multiple jurisdictions, helping the region take an objective and long-term perspective towards significant technology regulation. Continue reading “The New European Tech Doctrine Part II: How Aggressive European Policy is reshaping the future of big-tech”

The New European Tech Doctrine Part 1: Why Silicon Valley is starting to feel the burn from European regulators

On March 30th, the European Union’s Competition Chief Margrethe Vestager ordered the tech-conglomerate Google to pay a $1.7 billion fine for ‘abusing its position in online search advertising’. The European Commission reported that Google had aimed to shield itself from competitive pressure; the firm had imposed restrictive exclusivity clauses in AdSense contracts, blocking its rivals from placing ads on 3rd Party websites. The penalty was the third in a series of billion-dollar antitrust violations delivered by Europe to Google since 2018, and indicative of a wider-trend of European regulation against rapidly-growing technology companies such as Facebook, Google, Apple, and Amazon.

Continue reading “The New European Tech Doctrine Part 1: Why Silicon Valley is starting to feel the burn from European regulators”

WES Exclusive: Prof. Andrès Velasco on the South American Financial System, Venezuela’s economic crisis and more

With the spotlight constantly held on the biggest players in the American sphere it can be easy to overlook smaller South American nations with significant regional influence such as the state of Chile. This year the Warwick Economics Summit had the honour to welcome Professor Andrés Velasco, who has served as Finance Minister of Chile, and is today the Dean of LSE’s ‘School of Public Policy’. In his speech to our delegates, Prof. Velasco tackled complex issues like economic and political populism and identity politics in today’s world. I had the privilege to interview Professor Velasco and gain his insights on pressing issues, on behalf of the Summit.

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WES Exclusive: Prof. Obstfeld on US-China Relations, Greece’s Economy and more

Wise people tend to measure words and carefully address every aspect of the topic they are discussing, avoiding oversimplification and rushed conclusions. Having served as the Chief Economist at the IMF and Chief Macroeconomist in Obama’s Council of Economic Advisors, Professor Maurice Obstfeld makes no exception to this principle. Continue reading “WES Exclusive: Prof. Obstfeld on US-China Relations, Greece’s Economy and more”

Romania: Bringing Europe into the future or holding it back?

2019 marks a momentous year for Romania’s past, present and future. Three decades ago, the Berlin wall was torn down, opening the iron curtain and beginning the country’s rapid modernization process.  January 1st this year, Bucharest kicked off its 6-month presidency of the European Council, drawing the spotlight to the uncertain state of its domestic democracy and rule of law. And yet, as a leader in technology and cybersecurity, Romania could prove itself a crucial asset to NATO and the EU’s future as the upcoming European elections make the prospect of Russian cyber attacks ever more likely.

Continue reading “Romania: Bringing Europe into the future or holding it back?”

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