Paul J. J. Welfens Livres

Economic globalization is a complex phenomenon where the links between social security expenditures and globalization are not well understood so far. This study summarizes new key findings and highlights new theoretical insights in the field of social security systems, labor standards, taxation and economic globalization. Moreover, new thoughts on the links between social security systems and migration as well as between free trade areas and social market economy development are presented. The book analyzes the role of a changing age dependency using a Branson model and it derives implications for the stock market price index, the exchange rate and the interest rate. Economic globalization needs to be politically managed and through the Transatlantic Banking Crisis and the Euro Crisis the need to more carefully draw the rules of the game for financial globalization has been highlighted. Unstable financial markets have a large potential to undermine social market economies and socialsecurity systems. The rising income inequalities within countries raise more policy challenges for Europe than for the US.

The book explores the impact of economic globalization since the 1980s, highlighting the growing international interdependence and technology race. It contrasts the EU's rigid innovation policies, particularly in Germany, with the more adaptive US system that capitalizes on foreign direct investment. The author introduces new theoretical frameworks, including a "structural macro model" and a Schumpetrian model, to address these challenges. Additionally, it examines the complexities of international policy coordination amidst escalating global dynamics, warning of potential unsustainable economic globalization.

The book delves into the collapse of socialist economies in Eastern Europe and their shift towards market-oriented reforms, examining the root causes and challenges of this systemic transformation. It highlights the complexities of negative income and wealth effects, alongside distribution issues that hinder adjustment. Key themes include the significance of privatization and foreign investment for economic growth, as well as the politico-economic dynamics shaping new European developments and North-South relations, presenting tough choices for policymakers and business leaders.

The establishment of the European Central Bank (ECB) and the Euro in 1999 marked a significant shift in Europe's economic landscape, introducing a novel central banking institution unlike past monetary unions. Initially benefiting from low inflation and economic growth, the Euro faced a dramatic decline in value, losing 15% within 16 months. This volatility raised concerns about its competitiveness against major currencies like the US dollar and prompted discussions on theoretical frameworks, contrasting portfolio models with purchasing power parity.

The book delves into the rise of populism, offering insights that have challenged scholars and business leaders alike. It analyzes the reasons behind populism's prominence in contemporary discourse, providing a comprehensive understanding of its impact on society and media. Highly recommended for those seeking to grasp this significant political phenomenon.

Focusing on the reconstruction and stabilization of the Balkans, the book presents a "networked approach" to Western cooperation, emphasizing the interconnectedness of internal reforms and external support. Professor Welfens evaluates the effectiveness of the Stability Pact for Southeastern Europe, identifying both successes and challenges, including donor policy inconsistencies and structural disparities among Balkan nations. The research draws from a cross-disciplinary project at the American Institute for Contemporary German Studies, highlighting implications for transatlantic relations and future cooperation efforts.

Focusing on climate change through an economic and international policy lens, the book advocates for the implementation of emissions trading systems (ETS) in G20 countries, with a vision for their eventual integration into a global ETS. It highlights the urgency of addressing global warming amid shifting environmental policies in the US and the rise of movements like Fridays For Future, emphasizing the need for coordinated international action.

The book offers a thorough examination of the economic impacts and challenges stemming from Russia's invasion of Ukraine, emphasizing the effects of EU sanctions on Russian energy. It also explores Ukraine's political dynamics with the European Union within a broader global framework, providing insights into the interconnectedness of these geopolitical events and their implications for international relations and economic stability.

This work examines how the process of privatization is functioning under the systematic transformation of the former socialist CMEA countries. It compares the different strategies being adopted in different countries - for example, in Poland, the use of transformational shock therapy.

This book analyzes how the EU referendum in the United Kingdom came to pass and what the foreseeable consequences are for the UK, Europe, US and world economy.