Oxford University Press's
Academic Insights for the Thinking World

  • Author: Piet Keizer

The euro zone leadership suffers from cognitive closure

The euro zone has still not recovered from the global depression 2009. A major cause is the idea that every member should solve its own problems by lowering prices on all markets, and by reducing the influence of the government. Lower prices stimulate the exports to other countries, which would result in the beginning of a genuine recovery. Because the interrelationships between the various member-economies are quite strong, and the influence of the big euro zone on the global economy is significant, this policy advice has failed so far.

Read More