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Eurosclerosis
Eurosclerosis (German: ''Eurosklerose'') is a term coined by German economist Herbert Giersch in the 1970s, to describe a pattern of economic stagnation in Europe that may have resulted from government over-regulation and overly generous social benefits policies. The term alludes to the medical term sclerosis, and is a rhyme of the archaic term ''neurosclerosis''. The term was used to describe European countries of the 1970s and 1980s which had high unemployment and slow job creation in spite of overall economic growth, in contrast to what the United States experienced in the same period when economic expansion was accompanied by high job growth. In its political context, the term "eurosclerosis" was used to describe a period with a perceived stagnation of European integration. The slow pace of enlargement, a perceived lack of democracy and economic problems meant that negative and apathetic attitudes to the European Economic Community (EEC) were high. Wilfried Martens, Prime Min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Language
German ( ) is a West Germanic languages, West Germanic language mainly spoken in Central Europe. It is the most widely spoken and Official language, official or co-official language in Germany, Austria, Switzerland, Liechtenstein, and the Italy, Italian province of South Tyrol. It is also a co-official language of Luxembourg and German-speaking Community of Belgium, Belgium, as well as a national language in Namibia. Outside Germany, it is also spoken by German communities in France (Bas-Rhin), Czech Republic (North Bohemia), Poland (Upper Silesia), Slovakia (Bratislava Region), and Hungary (Sopron). German is most similar to other languages within the West Germanic language branch, including Afrikaans, Dutch language, Dutch, English language, English, the Frisian languages, Low German, Luxembourgish, Scots language, Scots, and Yiddish. It also contains close similarities in vocabulary to some languages in the North Germanic languages, North Germanic group, such as Danish lan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Belgium
german: Premierminister von Belgien , insignia = State Coat of Arms of Belgium.svg , insigniasize = 100px , insigniacaption = Coat of arms , insigniaalt = , flag = Government Ensign of Belgium.svg , flagsize = 125px , flagalt = , flagborder = yes , flagcaption = State Ensign , image = Informal meeting of ministers responsible for development (FAC). Arrivals Alexander De Croo (36766610160) (cropped2).jpg , imagesize = 200px , alt = , imagecaption = , incumbent = Alexander De Croo , acting = , incumbentsince = 1 October 2020 , department = Executive branch of the Belgian Federal Government , style = Mr Prime Minister His Excellency , type = , status = , abbreviation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The European Union
The European Union is a geo-political entity covering a large portion of the European continent. It is founded upon numerous treaties and has undergone expansions and secessions that have taken it from six member states to 27, a majority of the states in Europe. Since the beginning of the institutionalised modern European integration in 1948, the development of the European Union has been based on a supranational foundation that would "make war unthinkable and materially impossible" and reinforce democracy amongst its members as laid out by Robert Schuman and other leaders in the Schuman Declaration (1950) and the Europe Declaration (1951). This principle was at the heart of the European Coal and Steel Community (ECSC) (1951), the Treaty of Paris (1951), and later the Treaty of Rome (1958) which established the European Economic Community (EEC) and the European Atomic Energy Community (EAEC). The Maastricht Treaty (1992) created the European Union with its pillars system, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the stabili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Krugman
Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was the winner of the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services. Krugman was previously a professor of economics at MIT, and later at Princeton University. He retired from Princeton in June 2015, and holds the title of professor emeritus there. He also holds the title of Centennial Professor at the London School of Economics. Krugman was President of the Eastern Economic Association in 2010, and is among the most influential economi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Stagnation
Economic stagnation is a prolonged period of slow economic growth (traditionally measured in terms of the GDP growth), usually accompanied by high unemployment. Under some definitions, "slow" means significantly slower than potential growth as estimated by macroeconomists, even though the growth rate may be nominally higher than in other countries not experiencing economic stagnation. Secular stagnation theory The term "secular stagnation" was originally coined by Alvin Hansen in 1938 to "describe what he feared was the fate of the American economy following the Great Depression of the early 1930s: a check to economic progress as investment opportunities were stunted by the closing of the frontier and the collapse of immigration". Warnings similar to secular stagnation theory have been issued after all deep recessions, but they usually turned out to be wrong because they underestimated the potential of existing technologies.Pagano and Sbracia (2014"The secular stagnation hypo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single European Act
The Single European Act (SEA) was the first major revision of the 1957 Treaty of Rome. The Act set the European Community an objective of establishing a single market by 31 December 1992, and a forerunner of the European Union's Common Foreign and Security Policy (CFSP) it helped codify European Political Co-operation. The amending treaty was signed at Luxembourg City on 17 February 1986 and at The Hague on 28 February 1986. It came into effect on 1 July 1987, under the Delors Commission. A core element of the SEA was to create a single market within the European Community by 1992, when – it was hoped – the necessary legislative reforms would have been completed. The belief was that in removing non-tariff barriers to cross-border intra-Community trade and investment such measures would provide the twelve Member States a broad economic stimulus. To facilitate their removal, the SEA reformed the Community legislative process both by introducing the cooperation procedure and b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wilfried Martens
Wilfried Achiel Emma Martens (; 19 April 1936 – 9 October 2013) was a Belgian politician who served as prime minister of Belgium from 1979 to 1981 and from 1981 to 1992. A member of the Flemish Christian People's Party, during his premiership he oversaw the transformation of Belgium into a federal state. He was one of the founders of the European People's Party. Early life Martens was born on 19 April 1936 in the village of Sleidinge, East Flanders, the son of small farmers. He studied law at the Catholic University of Leuven, graduating in 1960. Martens became active in the Flemish Movement as a student. He began to draw public attention in 1957 when, as president of the Flemish Youth Committee, he organized a march to protest the lack of Flemish presence in the 1958 Brussels World's Fair, and was subsequently arrested while protesting the opening of the exposition. Political career In 1965, Martens joined the Christian People's Party (now the Christian Democratic and Fl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herbert Giersch
Herbert Giersch (11 May 1921 – 22 July 2010) was a German economist. He was one of the initial members of the German Council of Economic Experts in 1964, serving on the council until 1970, and also was president of the Kiel Institute for the World Economy 1969–1989. Giersch was considered the most influential German economist during the chancellorships of Willy Brandt, Helmut Schmidt, and Helmut Kohl. Born in Reichenbach, Silesia, Giersch attended the University of Breslau and the University of Kiel between 1939 and 1942, until he was drafted to serve in World War II. Returning from war captivity, he earned his Ph.D. in economics from the University of Münster in 1948. Giersch received a full professorship at the Saarland University in 1955. In 1969, he succeeded at the University of Kiel, and held that chair until 1989. Originally adherent to Keynesian economics in the 1950s and 1960s, he gradually became an advocate of supply-side economics in his later years. See also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
