Return to the market economy (FAZ)

The Corona crisis was an accelerator of the demand for a "strong state" - also in Germany. But appearances are deceptive: the state alone did not lead us through this pandemic, say Prof. Gabriel Felbermeyer, Prof. Lars P. Feld, Prof. Clemens Fuest, Prof. Veronika Grimm, Prof. Christoph Schmidt and Prof. Volker Wieland. In a joint guest article in the F.A.Z., they explain why it is not a "strong state" but only market-based mechanisms that can help us master the challenges of the future, such as demographic change, geopolitical changes, digitization and the energy transition.

At least as important as loans and government transfers in the Corona crisis was the high adaptability of companies and their employees, as the economists point out. State actors had sometimes struggled to adapt to changed circumstances. In their article, the economists therefore call for "a return to a market-based normality after the crisis has subsided and for the market economy to be quickly and consistently geared to future challenges, especially climate protection."

FAZ: "Wirtschaftspolitik nach Corona - Rückkehr zur Marktwirtschaft" (€)