When he was going to East-Berlin, a few months after the fall of the Wall, the attention of the visitor was attracted on the large city squares by the queues around trucks which have been transformed in travel agencies. Berliners would, at last, can see again their closed relatives or discover neighboring countries. But it was not all. Women were also pressing themselves around street desks set to buy tights. Their sale had been forbidden by the regime because this consumption habit was imported from capitalist countries. So their political leaders didn’t deprive themselves to intervene on the most ...

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The governments action against the economic consequences of the pandemic is testifying of a deep disruption in the principles which have been, for near half a century, the foundations of economic policy. They have put at the disposal of enterprises and employees the financing allowing them, for the time being, to cope with the activity fall and the employment cuts resulting from it. The State-guaranteed loans allowed banks to support their clients without taking themselves risk. Its taking of part-time unemployment benefits financing had the same purpose: they offered to enterprises the possibility to keep their employees without affecting the ...

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The progressive elimination of the borders for capital flows, since the end of the Eighties, had given to the central banks a major role in the elaboration and the implementation of the economic policies. At the origin, they were in charge of the supply of payments tools and of coming to help the States when these ones were going through a crisis or to finance a war effort.  The economists under Milton Friedman and the Chicago school aegis gave then to them a determining mission in the achievement of the major equilibriums. Through the management of the money supply, they ...

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