Knowledge base of the Mathias Corvinus Collegium
9/7/26, 6:00 AM
author: Soma Gallai

Polymarket: The Wisdom of the Crowd or a Market for Insiders?

Polymarket is reminiscent of a stock exchange, a betting market, and a collective forecasting system all at once. Prices can provide important signals, but windfall profits, price manipulation by “whales,” and allegations of insider trading cast doubt on the integrity of the market. Can a system be accurate even if it is unfair?
8/31/26, 6:00 AM

Investor Protection or Special Privileges? The Legitimacy Crisis of ISDS

The ISDS system, designed to protect foreign investors, has become one of the most controversial mechanisms in international economic law in recent years. High compensation awards, shortcomings in transparency, and the risk of scaling back regulations in the public-interest have contributed to a profound legitimacy crisis in investor-state arbitration, placing increasing pressure on the traditional ISDS model to undergo reform.
8/24/26, 10:21 AM
author: Soma Gallai

Oil Turns into Stock: How Do Sovereign Wealth Funds Work?

What happens to the money a country accumulates from oil, natural gas, or a sustained trade surplus? Governments do not necessarily spend all of these revenues; instead, they invest part of them in stocks, bonds, real estate, or companies. The purpose of sovereign wealth funds is to transform temporary revenues into national wealth that generates income over the long term – but achieving this requires transparent operations and sustainable public financial management.
8/18/26, 1:34 PM
author: Máté Gali

Celebrating Hungary's Greatest Statesman

On August 20, one of Hungary’s most important and oldest national holidays, we commemorate King Saint Stephen, the founder of the Hungarian state, and the country’s thousand-year-old Christian statehood.
8/10/26, 6:00 AM
author: Roland Tardi

How To Sell a Candidate? Branding and Mobilization on Social Media

Aura farming, reaction videos, memes, and carefully staged “spontaneous” moments – a digital barrage we all scroll through daily, thinking that these are just candid, unscripted glimpses into a politician’s life. In reality, we are the targets of a brutally precise product launch, tailored to the algorithm. After all, politicians today rarely campaign on policy platforms, instead, they market themselves as meticulously crafted brands. This is one consequence of the professionalization of politics. Successful mobilization today depends on producing platform-specific, emotionally charged content, manufacturing an illusion of authentic everyday life, and outsourcing negative campaigning to influencers. But how do these catchy marketing phrases translate into tangible, vote-winning strategies in practice?
8/3/26, 11:52 AM

Form Follows Content: What is Rarely Discussed in the Context of Restructuring Public Media in Hungary

We know remarkably little about what kinds of programs public media channels will broadcast in the future. For now, we are seeing mostly cancellations and temporary programming schedules. The restructuring—or, where applicable, the restoration—is a massive undertaking that raises numerous questions. Public and political attention is focused primarily on news and public affairs programs. Yet, there has been no discussion on one important area, despite the fact that broadcasting content related to national minorities is required by law.
7/29/26, 10:53 AM

How will Germany implement the EU Pact on Migration and Asylum?

Since the 2015 migration crisis, migration has remained one of the European Union's most politically sensitive policy areas. To address the challenges posed by migration, the EU Pact on Migration and Asylum entered into force on 12 June this year. The Pact aims to overhaul the bloc's asylum and border management framework. How does Germany, one of the countries most affected by migration, plan to implement the new Pact?
7/24/26, 11:35 AM

The First Draft Problem: Where AI Productivity Is Already Real

Most studies find only modest aggregate productivity gains from AI. One domain, however, stands out as an exception: writing-heavy, communication-intensive knowledge work. Here, the gains are substantial, reproducible, and mechanically explicable. European firms in finance, legal services, and public administration are well positioned to benefit from these improvements.
7/17/26, 1:24 PM
author: Roland Tardi

Why do politicians yell? The Psychology of Political Communication

Angry facial expressions, clenched fists, raised voices, and rhetoric filled with outrage have become a daily occurrence in contemporary politics. When a politician pounds the podium while launching a verbal attack on opponents, the question inevitably arises: Are our elected leaders genuinely this angry, or are we witnessing a carefully orchestrated performance? Research in political marketing and communication suggests that, in many cases, the latter is true. Aggressive political rhetoric is often not the product of spontaneous emotional reactions, but rather a deliberate communication strategy – a carefully calibrated marketing tool designed to influence voter behavior.
7/14/26, 2:32 PM
author: Bence Bauer

Hungary and Germany: Is the Divide Really as Deep as It Appears?

The differences between Hungarian and German conservative thinking are rooted in distinct historical experiences and political cultures. This is the central argument of Bence Bauer's latest analysis, which examines why perceptions of Hungary have become so polarized in German public discourse.