Creating Balance E-KÖNYV

(E-könyv)

LÁSZLÓ GYÖRGY is the Minister of State
for Economic Strategy and Regulation at the
Ministry for Innovation and Technology in
Hungary. Previously, he was the Chief Economist
at Századvég Group and the director of PADMA
(Pallas Athene Domus Mentis Foundation), the
public endowment fund of the John von Neumann
University. György lectures on economic policy
and international relations theory at the John von
Neumann University and Eötvös Loránd University
(ELTE) to BA, MA and MBA students.
He earned an international Master’s degree at
Hochschule St. Gallen, Switzerland (2004) in
the framework of the Community of European
Management Schools program, and MBA (2008)
and PhD (2013) degrees at the Budapest University
of Technology and Economics.
In his book, he seeks real-life policy solutions to
the economic problems of globalization and the
challenges facing Hungarian economic policy. He
argues that the aim of economic policy is to create a
decent standard of living, and this requires balance.

"It’s creative, difficult, but beautiful.
What is it? The mission of economic
policy. Maneuvering between
constraints and opportunities,
the art of balancing.
DID YOU KNOW
… that China, the world’s fastest growing economy,
protects certain strategic industries with state
subsidies and export constraints (such as the ban
on the export of rare earth metals)? England, the
winner of the Industrial Revolution, did the same
five hundred years ago by banning wool exports.
… that state-of-the-art components (touchscreen,
battery, cellular networks, GPS, Siri), which
are key features of the smartphone, are all the
results of state-led investments in research and
development?
… that instead of preserving and strengthening
its national assets, Hungary sold its producing
companies to foreigners in the 1990’s, effectively
transforming the country into an assembly plant in
the international division of labor?
… that tax-evading corporations and private
individuals accumulated more money (between
$21 and $32 billion) in tax havens globally than the
leaders of the six most corrupt countries would be
able to embezzle in over 100 years?
… that in developed countries, labor receives 55%
of income produced instead of the former 65%,
while workers in the Visegrad countries are paid
only 45%?
… that there are explanations for these facts, and
Hungary does have a policy choice?
LÁSZLÓ GYÖRGY’s book not only poses
questions, but makes recommendations for policy;
however, the offered solution is never another
“structural reform”."