INSTITUTE OF ECONOMIC AND SOCIAL STUDIES

The European Commission is preparing a new regulation of internet companies called the Digital Markets Act (DMA). It is supposed to require or prohibit a number of activities from platforms, all under the slogan: "more fair, competitive and innovative business on the internet". However, good intentions are not enough. Creating good regulation is usually a superhuman feat for politicians. Creating good regulation in the dynamic and innovative environment of the internet, where often politicians and officials do not understand the business models of platforms at all, is even multiply more difficult. And that is why it has so far almost always ended in fiasco. All indications are that it will be no different for DMA regulation. 

Autumn has arrived and rising hospital admission numbers has arrived with it. Looking around, I get the feeling that the pandemic issue has been reduced to just the issue of hospitals. The vaccinated are already ignoring the pandemic on a personal level – and the unvaccinated are too. (Un)vaccination has become a hard political stance and nothing can be done about it.

The media have experienced a recurring tide of reports about the four-day working week. The topic plays on the right strings – most people are employees and work five days a week. Then, when they hear that we could cut it by one day, it sounds like heavenly music to their ears on Friday morning.

The famous Art Nouveau hotel Rónai, later Royal, later Slovan, is now a preserved ruin in the center of Slovak Piešťany. During socialism it was completely “washed out”, like many other buildings that were either nationalized by socialism or built by socialism itself.

Press Release, Bratislava, 8 December 2021. The Minister of Finance has submitted a proposal for amendments to simplify the payment of levies and taxes on labor income. However, two more steps are needed before we can say after the reform that the system is simple and that employees understand the taxes and levies they pay: the abolition of the semi gross wage and the misleading title of ‘employer’s levy’.

Rising consumer prices have become an important issue both in the world and in Slovakia. Although with the current single-digit growth, consumers of the 1970s would have laughed us out, it is good that we are talking about this topic out loud. Perhaps it will help us avoid much bigger problems.

The European Parliament is preparing a vote on new regulations for digital services. Restricting online targeted advertising is also part of this megalomaniac regulatory package. This is an ad that is shown to specific people based on what websites they visit and their demographic characteristics. Well, some MEPs don't like this type of ad and they want to restrict, regulate or even ban it. All in the name of fighting for the right to privacy. Where is the problem?

In 2020, IAB Europe conducted a survey asking Europeans what version of the Internet they would prefer: with no targeted ads but with mostly paid content, or today's model with mostly free content but with targeted ads. The vast majority of 75% refused to pay for online content. However, the version with paid content would become reality if targeted advertising, which “finances” the internet "for free", got restricted or banned. This may happen as a result of the work of some Members of the European Parliament. 

Despite the unfavourable situation caused by the COVID-19 pandemic and pandemic restrictions in 2020-2021, we were able to hold the fourth edition of the Economics Olympiad, the first comprehensive nationwide competition in economics and finance for high school students in Slovakia. What is more, we were happy to welcome a record number of high school students from all over the country to take part in the competition this year.