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In which case the need to support industrial activity in a trade deficit region should decline as it achieves a trade balance and thus, rightly, the supports should decline.

For the EU to develop susch a policy, three heresies have to be embraced:

  1. All trade imbalances within the Eurozone are a bad thing and should be discouraged by differential taxation and reduced through differentiation expenditure.

  2. The EU should actively promote economic equality in all regions within the Eurozone

  3. Optimised capacity utilisation = full employment should be a primary goal of economic policy and not some kind of residual remainder effect or collateral damage of "correct policies".


Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu Jun 2nd, 2011 at 03:53:12 PM EST
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