Wirtschaftspolitisches Umdenken in der globalen Welt

»Economic Policy Rethinking in the Global World«

In three economic policiy areas a rethink is needed:

First, economic policy should define and aim a quantitative target for employment as well as the target of price stability. High unemployment in many countries is the cause of poverty, hunger and migration. People need to have opportunities in their own countries to shape their lives. The goals of full employment and price stability would have to be carried out by the central banks, as they are today in the USA.

Second, providing the global economy with foreign exchange should no longer be governed by a national currency, such as today’s US dollar, but by an international organization that supplies the global economy with an international currency.

Third, fluctuations in exchange rates should be limited. For this, major economies could keep their exchange rates on the path of purchasing power parities. The foreign exchange arbitrage would then, about the market, provide more stability of the exchange rates.