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  • The Growing Mess Which Will Be Left Behind By The Abenomics Experiment

    According to wikipedia, “overdetermination is a phenomenon whereby a single observed effect is determined by multiple causes at once, any one of which alone might be enough to account for (“determine”) the effect.That is, there are more causes present than are necessary to generate the effect”.  In this strictly technical sense Japan’s deflation problem is [...]

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  • A Simple Chart Illustrating Why Japan Style Deflation Is Now More Or Less Inevitable In Spain

    Here’s one simple chart which illustrates why I think Japan style deflation is now more or less inevitable in Spain. Curiously it comes from the Ministry of Employment and illustrates the relation between the movement in average wages caused by actual movements in the real wage and those caused by what is known as the [...]

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  • Could Mario Draghi Implementing QE At The ECB Possibly Help Matteo Renzi Raise the Italian Deficit?

    What a convoluted title! Still, the lack of formal elegance might just be compensated for by its communicative efficacy. The aim of the above header is to link two names in people’s minds, both of them Italian: Mario Draghi and Matteo Renzi. Naturally the idea is not original, the FT’s Peter Spiegel  recently published an [...]

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  • Can demography explain Portugal’s growth slump before the crash?

      The above still comes from a recent Financial Times video entitled “Portugal’s Brain Drain”, which can be found here, and which I encourage everyone to watch. The issue being raised revolves around the current acceleration of emigration from countries on the EU periphery, largely towards the EU core. Typically the emigrants are young educated [...]

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  • As Good As It Gets In Latvia?

    For Maurice Pialat, champion of the marginal centre. “This raises a final question, which, while not central to the issues of this paper, is nevertheless intriguing: How can a country with a low minimum wage, weak unions, limited unemployment insurance and employment protection, have such a high natural rate [of unemployment]?” “To summarize, the actual [...]

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  • Is The Perfect Always And Everywhere The Enemy Of The Good?

    Against a backdrop which offers an eerie parallel with events which took place somewhat to the North more than 30 years ago, Catalonia is now threatening to separate from Spain. In so doing the region seems to be putting at risk both the future of the host country and beyond that the outlook for the [...]

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  • In Spain, Simply Doing Nothing Is Not An Option!

    The recent IMF proposals to help stimulate growth and job creation in Spain at least deserve serious consideration. In a blog post that sought to defend the recent IMF proposal to for a social compact involving a 10% reduction in Spanish wages and salaries, EU Economy and Finance Commissioner Olli Rehn cited a line from [...]

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  • Spain – The Recession May Be Ending But The Crisis Continues

    What follows is an interview I did over the summer with the Madrid based publication The Local. Let’s start with the basics: what are Spain’s current economic problems? Spain’s economic problems are a knock-on effect of the end of Spain’s property boom. The collapse of the property market led to a drop in incomes, depressed [...]

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  • The Czech Economy That Didn’t Bounce?

    The Czech republic has been making the news recently. On the one hand the country has been on the receiving end of massive, devastating floods, while on the other the country’s government was brought to the brink of collapse (and beyond)  by the resignation  of Prime Minister Petr Necas following the arrest of one of his most trusted aides on corruption charges. After the [...]

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  • The Second Battle Of Thermopylae

    According to legend and some historians, by making a stand in the Thermopylae pass 300 brave Spartans valiantly saved the day for the entire Greek army in the face of a Persian force of overwhelming strength and manpower. More than 2,000 years later some 11 million Greeks might be considered to have carried out a rather similar operation [...]

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Dan Steinbock

Dr Dan Steinbock is a recognized expert of the multipolar world. He focuses on international business, international relations, investment and risk among the major advanced economies (G7) and large emerging economies (BRICS and beyond). In addition to his advisory activities (, he is affiliated with major US universities as well as international think-tanks, such as India China and America Institute (USA), Shanghai Institutes for International Studies (China) and EU Center (Singapore).

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