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Heiner Flassbeck

Heiner Flassbeck was chief macroeconomist at the German Institute for Economic Research in Berlin from 1988 to 1998 and state secretary (vice minister) at Germany’s Federal Ministry of Finance in 1998–99. From 2003 to 2012, he was Director of the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development. He is the coeditor of Makroskop.
Articles by Heiner Flassbeck

Commodity Financialization (and Why It Matters)

In December 2018, a leading European bank sent its customers investing tips for the next year. To navigate “an increasingly challenging investment environment,” the bank advised, “The latter stages of the economic cycle have historically been one of the better times to invest in commodities. Overall demand tends to stay high while inventories run low.” Until recently, commodities interested mostly those who produced, traded, or consumed them…

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Corporate Power and the Self-Destruction of Neoliberalism

Since the mid-1970s, the majority of economic power in the Western world has fallen into the hands of business and finance. At that time—facing the enormous challenges of oil price explosions, inflation, and unemployment—the governments of most countries virtually surrendered, and left it to global corporations to search for solutions. Margret Thatcher, Ronald Reagan, and…

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Germany’s Trade Surplus: Causes and Effects

On January 25, 2015, in a free election, the Greek people exercised their right to decide the destiny of their country. A majority of the Greeks voted against austerity. SYRIZA, an outspoken left-wing party, came to power. Since that day, many European governments, led by Germany, have stubbornly refused to allow the Greek government to…

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