Hungarian Conservative

Although Sergio Massa, Argentina’s newly appointed economy minister, has made it clear that he is ‘no magician’, the public will have extraordinary expectations of him in the face of a major economic crisis.

The issue of fiscal sustainability will determine both the economic and geopolitical future of the Western civilization. The status quo of welfare states might be a huge impediment to that.

Through the adoption of the welfare state, or its more extreme form, the entitlement state, western economies took up huge financial liabilities which might hold serious questions for economic policy in the upcoming decades.

The moderation of Budapest’s role is largely due to the high share of infrastructure related public investments which developed Hungarian regions more than the capital.

In the wake of a global pandemic, Western democracies have become hugely indebted, weak, self-loathing riven by incessant migration and beset by an identity crisis. What went wrong?

Overall, the German automotive industry employs around 50, 000 people in the country and generates 2.5 per cent of the Hungarian GDP. The production value of the industry rose by 165 per cent between 2010-2019, so the influence and significance of the auto manufacturing industry is on the rise in Hungary.

Using immigration to address labour shortage is clearly not just an economic policy decision: changing the composition of a society is expected to have other far-reaching consequences, and not necessarily favourable ones.

Although it always comes as a shock for people from Central Eastern Europe who lived through state socialism, nowadays in the West there are increasingly more young people who identify as Marxists or even Communists.

Given the increasingly widespread appeal of Marxist beliefs in Western academia, it is important to remind ourselves of what really happened under Soviet-type planned economies.

While some disappointment with capitalism—just like with any system—is completely understandable, the virtues of capitalism must be acknowledged.

The surrendering individual rights was contingent on whether or not the legitimate political authority can effectively protect those from an aggressor — in our present-day case, the coronavirus. 

The achievements of the last 30 years must not be forgotten nor underestimated – Central Europe, and Hungary in it, have gone through spectacular development which can be observed across all measurements of economic growth.

This article aims to provide a brief overview of the most important milestones of the two countries’ economic cooperation. 

In memoriam of János Kornai’s life and work, his main ideas about the socialist economy, shortages and the budget constraint are discussed on the columns of the Hungarian Conservative. 

German-Hungarian economic relations developed dynamically during the ‘Merkel era’ despite the fact that on the political level, the relationship was not free from disputes. 

The first and also one of the most difficult tasks is to raise public support for climate issues in Hungary in such a way that instead of sink into “climate depression” motivates individuals and communities to take action.

The two countries ‘held hands at the right time’ to jointly try to exploit the opportunities of the changes and shifts in world politics and economy ahead – added the Hungarian PM.