Transformative Changes in World Energy Production and Trade

Transformative Changes in World Energy Production and Trade

Major changes in oil production have transformed the US from a major importer to a major producer and sometime exporter of oil. The market power of OPEC and its non-member collaborators has been weakened (Libya and Nigeria have been exempted from current quotas). In addition to new sources of oil production, we are now hearing […]

The Navigation Acts Are Still Alive: A Century of the Jones Act

The Navigation Acts Are Still Alive: A Century of the Jones Act

  photo: Alexandra Zakharova American colonists resented the British Navigation Acts. Colonists smuggled, protested, and eventually revolted against the restrictions on trade. John Hancock, the most prominent signer of the Declaration of Independence, became one of the richest men in the Colonies by smuggling (John Hancock-Heritage). However, in 2017 in the independent United States of America, […]

The Trump Trade Doctrine and Bilateral Trade Balances

The Trump Trade Doctrine and Bilateral Trade Balances

photo: Gage Skidmore Trump Trade Doctrine Donald Trump campaigned against bad trade deals, and he promised to negotiate “better deals”. The exact meaning of a better trade deal for America was revealed in a document, “Scoring the Trump Economic Plan”, written by advisors Peter Navarro and Wilbur Ross. Navarro will head the new White House National […]

Modigliani and Miller at the IMF

Modigliani and Miller at the IMF

In a paper on tax policy, leverage and macroeconomic stability published on 10 November, the IMF staff address the issue of excessive leverage or the so-called “debt bias” that poses risks for financial and macroeconomic stability. The “debt bias” has been largely created by more favorable tax treatment of debt relatively to equity. In most […]

Will Migration Across the Mediterranean Dominate Migration Across the Rio Grande?

Will Migration Across the Mediterranean Dominate Migration Across the Rio Grande?

The massive migration from Mexico to the United States that began in the 1980s and ended in 2007 was one of the largest in history (Hanson and McIntosh). Nine years after the mass migration, the issue remains politically sensitive, and Donald Trump’s advocacy of building a Wall along the southern border contributed to his winning […]

The Human Highway to Europe: Roadblocks and Detours

The Human Highway to Europe: Roadblocks and Detours

The European Union is facing the largest migration crisis since the aftermath of World War II. Wars in Syria and Iraq are the immediate sources of displaced people seeking peace and prosperity in Europe. The large volume of migrants in a short period exceeds the ability and willingness of Europeans to process and accept migrants. […]

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