Ep. 18: Daniel LaCalle, Author of Escape from the Central Bank Trap (Part Two)

Listen to Episode 18: Daniel LaCalle, Part 2

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Episode Description

In the second half of my conversation with Daniel LaCalle we discuss the European Union Crisis, flexicurity in Nordic countries, and what government’s involvement in the economy ought to be. Daniel tells us how the European Union’s burdensome regulations and taxes are preventing a full recovery from the financial crashes. We look at some of the policies that have worked outside of the European Union, that may lead to a better recovery. Finally, we end the conversation by reflecting on where our society is headed with government at the helm.

Brief Show Notes

The European Union Crisis

In an article on his blog, Daniel argues that the European Union is not as close to the end of crisis as they think. The EU has gotten out of the crisis much slower than the rest of the world because of bad policy. Their salaries are much lower and their unemployment much higher than other countries.

In the European Union, job creation is heavily taxed. Many of its countries tax employers up to 50% of each worker’s salary. This creates a massive barrier on job creation. Regulations in the EU are another significant burden to businesses. Daniel recommends reading Paying Taxes, a report by Pricewaterhouse Coopers, that details the amount of time businesses spend to comply with regulations.

Flexicurity in Nordic countries

Nordic countries utilize a welfare system that could help solve the problem of a burdensome welfare state. One example of such policies is the setting of a minimum wage. Rather than being set by law, the business community comes together to determine what the most beneficial minimum wage is.

“When you don’t have the minimum wage set by law, as the economy grows and becomes more productive, the average minimum wage actually becomes higher.” ~ Daniel LaCalle

Another example is how active workers are in the management of companies. They are encouraged to offer ideas and solutions to the management, which creates a very collaborative and flexible environment.

Government involvement in the economy and society

In the last half of the episode, Daniel and I talk about how government’s role in the economy has shifted over time. We discuss whether issues like healthcare and education are improved when government is involved.

Additionally, Daniel tells us about his upcoming book. It is about how we must have a open discussion about how to solve some of the most pressing issues in our society.

“In the United States many politicians are looking at Europe and saying, ‘I like that.’ And, sorry, I live here: this is not something you need to copy!” ~ Daniel LaCalle

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Previous Episodes

Ep. 17: Daniel LaCalle, Author of Escape from the Central Bank Trap (Part One)

Ep. 16: Countable CEO and Founder, Bart Myers

Ep. 15: The RAISE Act Part 1

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Bills Ep. 13: Arpit Chaturvedi, Editor-in-Chief of the Cornell Policy Review (Pt. 1)

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