Knowledge is elitist. Education is snobby. Expertise is detached. The only way to be truly "democratic” is to crowd-source reality. That has been the political vibe of the last ten years, not just in Britain, and it is the road to ruin. The pandemic probably didn’t help.

The oldest trick in the climate delay playbook: 1. Rule out all other measures as unnecessary and counterproductive because we will introduce CO2 pricing 2. Then rule out CO2 pricing because it would make things unaffordable 3. Checkmate

Still the best explanation of Russian tactics and the difficulty of deterrence. From: Yes, Prime Minister.

Gerade geht es um Differenzierung in verfassungsrechtlichen Themen. Plumpst #Serrao von der NZZ bei #Lanz herein und offenbart seine gänzliche Ahnungslosigkeit von den verfassungsrechtlichen Voraussetzungen eines AfD-Verbotsverfahrens. Seine größte Sorge offensichtlich: nur nicht die AfD verbieten!

Very happy to see that the article @moritzecon.bsky.social and I have written on Germany's "fiscal ecosystem" has just been published online and in print in Surplus Magazine www.surplusmagazin.de/staat-schatt...

🚨 New open access article 🚨 Out now in Journal of Financial Regulation with Alex Goghie and Matteo Giordano 'Encumbered Security? Vertical and Horizontal Repos in the Euro Area and Their Inherent Ambiguity' academic.oup.com/jfr/advance-...

For anyone interested in central banking and constitutional law, Lev Menand explains the issue very well open.spotify.com/episode/7d04...

Thinking about these guys

Geld regiert die Koalitionsverhandlungen: Sondervermögen oder Schuldenbremse, jetzt oder später? Joel S. Bella hielt eine entsprechende Grundgesetzänderung durch den Alt-Bundestag für verfassunswidrig, GREGOR LAUDAGE erwidert: Der Bundestag bleibt kompetent. verfassungsblog.de/sondervermog...

1/What do the KTF, the autobahn and the chimney sweepers' pension fund have in common? They are all part of the wide landscape of off-balance-sheet fiscal agencies (OBFA) in Germany and therefore part of our new working paper with @agutersandu.bsky.social @steffenmurau.bsky.social and Armin Haas.