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In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run. ↗
We, the Social Democrats, are convinced that capitalism needs to be tamed a second time. The first time we achieved that in Germany for many decades with the social market economy. That is no longer enough. Now we need to do it in Europe and even globally. ↗
But if, if you take a look at what would have happened, I mean, do we need to see soup lines down the street to figure out what would have happened? We avoided - and all economists will tell you that millions of jobs were saved because of the Recovery Act, and we avoided a second Great Depression. That, that is a reality. ↗