New economic policy: hope for justice and less fear!

New economic policy: hope for justice and less fear!

In their new book, Markus Marterbauer, the former chief economist of the Austrian Chamber of Labor, and Martin Schürz from the Austrian National Bank call for an economic policy that not only encourages a rethink in politics, but also offers hope for society. Marterbauer, who now works as finance minister in Vienna, deals with central issues affecting the socio-political landscape of Europe in the work entitled “Fear and Fearmongering”. The book was published by Paul Zsolnay Verlag and describes an alternative concept to current economic policy, which is often characterized by diffuse fears among the population. table.media

In the debates about the welfare state, Marterbauer and Schürz criticize the deliberate fomenting of fears, which unsettles many people and often has the opposite effect of solidarity. This wealth inequality, they warn, not only endangers social coexistence, but also calls into question the foundations of democracy. They advocate taking people's existential fears seriously and taking them into account in economic policy in order to achieve a fairer distribution of wealth. Deutschlandfunk

Economic policy demands

In their book, the authors outline a number of changes that they believe are necessary. These include:

• Bessere Pflege- und Gesundheitsversorgung
• Angemessene Mindestlöhne
• Bezahlbarer und gesicherter Wohnraum
• Einschränkung des Vermögens der Reichen durch Vermögensteuer und Erbschaftsteuer
• Ein Vorschlag für ein Maximalvermögen von einer Milliarde Euro

The authors estimate the costs for a zero poverty strategy at around two billion euros per year, plus an additional two billion euros for improving kindergartens and schools. These expenses would correspond to around one percent of annual economic output in Austria.

Marterbauer and Schürz criticize the current neoliberal economic policy, which uses fears as motivation and, for example, ensures that unemployment benefits are only paid for a limited period of time. This forces many people to take low-paying jobs instead of having a stable and secure perspective for their future.

A change of perspective

The two's demands are politically controversial, but offer a new perspective on the current economic challenges. Interestingly, in their book, Marterbauer and Schürz conducted interviews with external experts, including millionaire heiress Marlene Engelhorn, in order to integrate diverse perspectives on the distribution of wealth in Europe. However, one critical note remains: the voices of families in need are often not heard, which makes the discussion about poverty and its challenges seem abstract.

In summary, it can be said that Marterbauer and Schürz have created an important work with “Fear and Fearmongering” that calls for the fears of the socially disadvantaged to be placed at the center of economic policy. Their arguments not only call for a rethinking of existing structures, but also a return to values ​​such as social justice and human dignity.