Governments around the world reacted to the pandemic situation in similar fashion. Costly economic stimulus packages popped out, undermining the role of decentralized reaction from the bottom and strengthening state’s role in economy. European Union introduced the EUR 750 billion worth Next Generation EU package. Next Generation EU and its crucial part, Recovery and Resilience Facility, promise to bring an era of growth and stability to the European Union and its 27 member states. Can this promise be fulfilled, and if so, at what cost?

In 2016, Slovakia’s Institute of Economic and Social Studies (INESS) introduced the Bureaucracy Index, which draws attention to the amount of red tape a small entrepreneur has to navigate on a daily basis. The Index is based on a straightforward methodology, using the analysis of a model micro company and all of its bureaucratic obligations—such as taxes, worktime planning, health safety measures, and even waste management, among others—which are assigned a specific time cost.

When it comes to real life problems, adults usually start reminiscing about their school days with a bit of bitterness. Sometimes, they blame teachers that had failed at teaching, and on other occasions they blame themselves for not paying more attention. The skills that are missing the most often are usually those related to Economics and Financial literacy.

In the process of writing the pre-election commentary, I received the second of two crowdfunded polls concerning preferences of political parties. The outlook was not that similar to the actual result – there was one distinct exception. Nobody had anticipated that the coalition PS/Spolu would not make the cut by 926 votes.

With the parliamentary elections approaching, Slovakia is facing an unprecedented situation of uncertainty. The elections are held after four challenging years, marked by the murder of the journalist Ján Kuciak and his fiancée Martina Kušnírová, a number of subsequent anti-government protests, and months of revelations of corruption and malignant practices leading to some of the most senior public officials.

Prague, September 11, 2019

On September 10, 2019 ,the first international finale of the Economics Olympiad took place in the Czech national bank in Prague. Slovakia was excellently represented by five students from whom two reached the first two medal positions. High school students undoubtedly proved that despite reports of low financial literacy of Slovaks, there are many exceptionally talented young economists who will not get lost even in international comparison.

Long announced “retail chain tax” is taking its final shape in Slovakia. The law passed the first round of voting in the parliament and is awaiting the second voting in November. The government’s intention is to lower the market power of large international retail chains. Unfortunately, the alleged problems are mostly made-up. Instead, this tax may end up raising the food prices and wrecking havoc in Slovak retail.

Mankind has made unbelievable progress in the last one hundred years. From horse carriages to moon landings, from typhus epidemics to molecular genetics, from conservative patriarchate to gay marriages. One thing does not change though – the suspicion, or even hate towards merchants.

The Institute of Economic and Social Studies (INESS) first introduced its Bureaucracy Index in Slovakia in 2016 to draw the attention to the amount of red tape a small entrepreneur has to overcome on a daily basis just to do business.