The traditional theory of economic policy of the Tinbergen-Theil-type has come under severe criticism: in the ontological setting of the New Classical Macroeconomics based on the Rational Expectations Hypothesis (REH), economic policy is ineffective or neutral with respect to real variables. In...

The July 2013 European Council recommendations to the euro area recognise a number of fiscal and macrostructural challenges, but do not fully exploit the options made possible by the European economic governance framework. There are particular problems with the Council's suggestions for the euro...

The European Union has set out a new strategy for growth and competitiveness. A successor to the Lisbon agenda, the 2020 strategy aims to usher Europe into an era of smart, sustainable and inclusive growth. It is of tremendous importance that Europe speeds up growth. Fiscal stabilization can...

The thesis of this paper is that economist's current policy narrative, which I call the state/market control policy narrative, is holding us back in our search for creative, imaginative, and workable policy solutions to our current problems. It is time to shift to a new complexity policy...