zimfox on Nostr: It seems the new Draghi report on EU development suffers from three major delusions: ...
It seems the new Draghi report on EU development suffers from three major delusions:
https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en
1. That issuing debt to fund public spending is a path to wealth creation and equality. The Cantillon Effect on is already on steroids with high Gini (inequality) scores & uneven distribution of beneficiaries.
POLITICOEurope :press: (npub1esg…xhep) comments "But there seems to be increasing agreement on the need to reform the EU's €1.2 trillion budget, diverting funds away from Europe's poorer regions toward industrial, digitalization and innovation policies. This would align Draghi with the plans the Commission is already putting forward and is looked upon favorably in Berlin."
2. That pumping money into technology like AI rather than allowing free-market entrepreneurial allocation of capital will achieve anything other than securing further the destructions of SME's and rural communities. Mis-allocation by the state creates not only tax & debt burdens, it rewards those with access to governmnets to the detriment of others, and increases inflation
3. The idea that faster pharma approval processes can allow the EU to play catch up with the US is utterly farcical. Who wants to be subject to yet bigger pharma, who wants to accelerate introduction of experimental and unproven 'solutions' and do we not believe that improving dietary nourishment and reducing state sponsorship of sugar, tabacco and additives industries might actually do more good?
https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en
1. That issuing debt to fund public spending is a path to wealth creation and equality. The Cantillon Effect on is already on steroids with high Gini (inequality) scores & uneven distribution of beneficiaries.
POLITICOEurope :press: (npub1esg…xhep) comments "But there seems to be increasing agreement on the need to reform the EU's €1.2 trillion budget, diverting funds away from Europe's poorer regions toward industrial, digitalization and innovation policies. This would align Draghi with the plans the Commission is already putting forward and is looked upon favorably in Berlin."
2. That pumping money into technology like AI rather than allowing free-market entrepreneurial allocation of capital will achieve anything other than securing further the destructions of SME's and rural communities. Mis-allocation by the state creates not only tax & debt burdens, it rewards those with access to governmnets to the detriment of others, and increases inflation
3. The idea that faster pharma approval processes can allow the EU to play catch up with the US is utterly farcical. Who wants to be subject to yet bigger pharma, who wants to accelerate introduction of experimental and unproven 'solutions' and do we not believe that improving dietary nourishment and reducing state sponsorship of sugar, tabacco and additives industries might actually do more good?