Why Would Anyone Want to Make the US More Like Europe?

Why Would Anyone Want to Make the US More Like Europe?

photo: Moyan Brenn The idea that Democrats want to make America more like Europe is a favorite Republican attack line. Writing in The New York Times, David Brooks expresses amazement that so many millennials are supporting Bernie Sanders, an open admirer of the European model. Why would anyone in their right mind favor “sluggish” Europe over “vibrant” […]

New Perspectives on Trade from the Commonwealth

New Perspectives on Trade from the Commonwealth

The recent release of the inaugural Commonwealth Trade Review brings a fresh perspective to debates on global trade issues at a time in which much attention has been focused on negotiating regional and inter- or mega-regional trade agreements.   The Commonwealth Secretariat’s new report effectively frames the particular rôle that the Commonwealth has to play in […]

QE in the Eurozone Has Failed

QE in the Eurozone Has Failed

photo: Chris Goldberg Eight months have passed since the ECB started its own quantitative easing (QE) program, and almost everyone in Europe seems to agree with Mario Draghi that ‘QE has been a success’. But is such enthusiasm warranted? Let’s take a look at the data. The obvious starting place is the inflation rate. As is […]

A More Ambitious Agenda Needed to Combat Greek Debt

A More Ambitious Agenda Needed to Combat Greek Debt

photo: Karl-Ludwig Poggemann The July 12th euro area summit ended with a last minute agreement that avoided an imminent ‘Grexit’. Even before negotiating the third bailout program, the Greek government accepted several conditions imposed by its European partners. Among these, the most debated is the creation of a fund to monetize €50bn of public assets through […]

Bailouts Lead to Weaker Economies

Bailouts Lead to Weaker Economies

photo: Bridget Coila Government bailouts of banks may have made Europe’s fragile economic stability worse rather than better, according to new large-scale research. In addition, a widespread expectation of government support makes banks more vulnerable to collapse. The research, led by Dr Renatas Kizys, an economist at the University of Portsmouth, is the first to suggest […]

Will the Renminbi Take Over the US Dollar?

photo: 401(K) 2012 Every year I choose a book that deals with an important aspect of globalization, and award it the Globalization Book of the Year, also known as the “Globie.” Unfortunately, there is no cash prize to go along with it, so recognition is the sole award. Previous winners can be found here and here. The winner […]

Germany is not Volkswagen, but the wake up call should not be ignored

Dalia Marin recently published a Project Syndicate column titled “Germany is not Volkswagen”, which basically tries to portray the fraud by Volkswagen that was recently uncovered by the US authorities as an isolated case and stress the strength of the German manufacturing culture. Germany is not Volkswagen, indeed. BMW, for example, passed the very same […]

Greece’s Never Ending Troubles

The final outcome of the Greek debt crisis has been obvious from the beginning. The Hellenic nation will need to restructure its debt, writing off a substantial portion of what it owes. It may need to leave the Euro, allowing the country to devalue to regain competitiveness relative to its peers like Turkey. Spreadsheet Referendum […]

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