{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,15]],"date-time":"2026-06-15T21:58:03Z","timestamp":1781560683727,"version":"3.54.5"},"reference-count":9,"publisher":"Walter de Gruyter GmbH","issue":"2","license":[{"start":{"date-parts":[[2022,11,29]],"date-time":"2022-11-29T00:00:00Z","timestamp":1669680000000},"content-version":"unspecified","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2023,2,2]]},"abstract":"<jats:title>Abstract<\/jats:title>\n                  <jats:p>The EU Taxonomy stands in sharp contrast to the principles of a market economy. It requires regulatory knowledge that cannot be expected to exist and hampers rather than stimulates entrepreneurial initiatives for coping with socially relevant scarcities. For all objectives addressed with his approach, more efficient policy instruments exist that play with and not against market forces. Apart from allocative inefficiencies, the Taxonomy-approach opens the door for all kinds of particularistic maneuvers and hidden political agendas. The Taxonomy absorbs high-skilled labor that is in high demand elsewhere in the economy and creates a massive extra bureaucratic burden without any expectable benefit for the total economy. Given the fundamental flaws in the overall concept, policy makers should stop it rather sooner than later.<\/jats:p>","DOI":"10.1515\/ev-2022-0028","type":"journal-article","created":{"date-parts":[[2022,11,28]],"date-time":"2022-11-28T11:32:29Z","timestamp":1669635149000},"page":"243-249","source":"Crossref","is-referenced-by-count":16,"title":["EU Taxonomy: Mission Impossible"],"prefix":"10.1515","volume":"19","author":[{"given":"Stefan","family":"Kooths","sequence":"first","affiliation":[{"name":"Kiel Institute for the World Economy , Kiel , Germany"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"374","published-online":{"date-parts":[[2022,11,29]]},"reference":[{"key":"2025120313442656529_j_ev-2022-0028_ref_001","unstructured":"EU Commission. 2021a. What is the EU Taxonomy and How Will it Work in Practice? FAQ. Also available at https:\/\/ec.europa.eu\/info\/sites\/default\/files\/business_economy_euro\/banking_and_finance\/documents\/sustainable-finance-taxonomy-faq_en.pdf."},{"key":"2025120313442656529_j_ev-2022-0028_ref_002","unstructured":"EU Commission. 2021b. Commission Delegated Regulation (EU) 2021\/2139, 4 June 2021, Supplementing Regulation (EU) 2020\/852 of the European Parliament and of the Council by Establishing the Technical Screening Criteria for Determining the Conditions under Which an Economic Activity Qualifies as Contributing Substantially to Climate Change Mitigation or Climate Change Adaptation and for Determining whether that Economic Activity Causes No Significant Harm to Any of the Other Environmental Objectives. Also available at https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:32021R2139&from=EN."},{"key":"2025120313442656529_j_ev-2022-0028_ref_003","unstructured":"EU Technical Expert Group on Sustainable Finance. 2020. Taxonomy Report-Technical Annex. Brussels: EU Technical Expert Group on Sustainable Finance."},{"key":"2025120313442656529_j_ev-2022-0028_ref_004","unstructured":"Friedman, M. 1962. Capitalism and Freedom. Chicago: University of Chicago Press."},{"key":"2025120313442656529_j_ev-2022-0028_ref_005","unstructured":"Hayek, F. A. V. 1945. \u201cThe Use of Knowledge in Society.\u201d The American Economic Review 35: 519\u201330."},{"key":"2025120313442656529_j_ev-2022-0028_ref_006","unstructured":"Hayek, F. A. V. 1974. The Pretense of Knowledge. Lecture to the Memory of Alfred Nobel. Also available at https:\/\/www.nobelprize.org\/prizes\/economic-sciences\/1974\/hayek\/lecture\/."},{"key":"2025120313442656529_j_ev-2022-0028_ref_007","unstructured":"Kirzner, I. M. 1973. Competition and Entrepreneurship. Chicago: University of Chicago Press."},{"key":"2025120313442656529_j_ev-2022-0028_ref_008","unstructured":"Smith, H. J. 2003. \u201cThe Shareholders vs. Stakeholders Debate.\u201d MIT Sloan Management Review 44: 85\u201390."},{"key":"2025120313442656529_j_ev-2022-0028_ref_009","doi-asserted-by":"crossref","unstructured":"Tullock, G. 2005. The Rent-Seeking Society. Selected Works of Gordon Tullock, Vol.\u00a05. Indianapolis: Liberty Fund.","DOI":"10.4337\/9781845424688.00012"}],"container-title":["The Economists\u2019 Voice"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.degruyterbrill.com\/document\/doi\/10.1515\/ev-2022-0028\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.degruyterbrill.com\/document\/doi\/10.1515\/ev-2022-0028\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,12,3]],"date-time":"2025-12-03T13:44:40Z","timestamp":1764769480000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.degruyterbrill.com\/document\/doi\/10.1515\/ev-2022-0028\/html"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2022,11,29]]},"references-count":9,"journal-issue":{"issue":"2","published-online":{"date-parts":[[2022,11,29]]},"published-print":{"date-parts":[[2023,2,2]]}},"alternative-id":["10.1515\/ev-2022-0028"],"URL":"https:\/\/doi.org\/10.1515\/ev-2022-0028","relation":{},"ISSN":["1553-3832"],"issn-type":[{"value":"1553-3832","type":"electronic"}],"subject":[],"published":{"date-parts":[[2022,11,29]]}}}