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Pragmatic analysis says maybe we should, but we should also consider nationalisation. We should certainly consider better regulation.
An earlier column argued that we should make the government’s net worth – t...
The pressure to globalise is consolidating towards a global world in which the US is a marginal player.
There is a trope (or should I say ‘wishful hope’) by some that globalisation is coming to an end. While it may no longer moving towards a comprehensive integration, there are sites where it continues to expand. (There may be one major retrea...
We should follow the Golden Rule of Fiscal Management and not borrow for consumption in the medium run.
Asymmetry is a crucial, but often ignored, feature of credit transactions. You would normally be surprised if a shopkeeper said they would sell you 1kg of apples but not 2kg, even if you offered to pay a higher price. Yet such a response is ...
Queen Elizabeth II famously asked about the 2008 Global Financial Crisis, ‘Why did no one see it coming?’
In fact, many economists (including yours truly) had pointed out that the financial system probably would crash. But we failed to predict what would precipitate the collapse, how severe it would be and when it would happen.
class=""...What do the 2025 Nobel awards in economics say to us?
One of the economic puzzles of human existence is that for most of it, going back to its beginnings, the material standard of living did not change much. Then, about 200 years ago, it began increasing; in some places more than others but material living standards in even the poorest regions...
