Sanctions have enormous consequences. Especially when imposed by a country with the economic influence of the United States, sanctions induce clear shockwaves in both the economy and political culture of the targeted state, and in the everyday lives of citizens. But do economic sanctions induce...

Over the past four decades, the accumulation of policy legacies and public debt has led to a decline in fiscal flexibility in Germany and the United States. By applying an index of fiscal democracy to Germany, the paper illustrates the associated shrinkage of democratic control over budget...

The progress of markets erodes traditional relations of social solidarity that are essential for the stability and performance of societies. As markets advance, pressures build on the state to replace informal social obligations with formal ones. Regulation may fail, however, which tends to give...