When work is not enough

Global public debt is at an all-time high. How can we keep it under control? Public debt around the world has reached unprecedented levels. Managing it requires the skill of a tightrope walker. Excessive debt can become explosive, pushing a country to the brink of collapse, as history has shown us. On the other hand, rigidly adhering to balanced budgets, as Germany did for too long, or abruptly increasing taxes and cutting expenditures to reduce debt can drive a country into recession. A better approach is to aim for a gradual reduction of debt while considering that in the coming years, more resources will need to be allocated to environmental protection and healthcare, and many countries will increase defense spending. What we absolutely must avoid is borrowing blindly, without a clear plan for spending the funds, as happened with the National Recovery and Resilience Plan (Pnrr).

Why electricity costs so much in Italy and what we can do to keep the lights on while waiting for large-scale energy storage Yes, just like children, we should be a little afraid of the dark. Blackouts, whether brief or prolonged, local or widespread, are becoming more and more common across Europe, disrupting a society that has never been so dependent on electricity. To lower this risk, we need a more diverse energy mix — one that can balance shortfalls in one source by increasing another. Just as crucial is strengthening the interconnection between Europe’s power grids. Turning away from Europe’s decarbonization goals, following the lead of the United States, would be a serious mistake.