The febrile behavior of financial markets ahead of the United Kingdom’s referendum on June 23 on whether to remain in the European Union shows that the outcome will influence economic and political conditions around the world far more profoundly than Britain’s roughly 2.4% share of global GDP might suggest. There are three reasons for this […]
Since last August, when it became clear that the lifting of sanctions on Iran would unleash a massive increase in global oil supplies, $50 has proved to be a ceiling for the trading range of a barrel. But now that this level has been exceeded, will it again become a floor? Read Here – Project […]
A logical implication of the externality argument is that trade agreements lead to freer trade. Some have equated this with the argument for free trade, but the arguments are quite distinct. The case for free trade rests on strong assumptions that may or may not be reasonable. Read Here – Harvard Business Review
A new report is warning that the world is ill-prepared for an increasing rise in disasters, spurred by climate change, rising populations and increasing vulnerability of people in large cities and unregulated housing. Read Here – The World Bank Group
Dumping U.S. bonds is not really an option for any country holding major positions. To the extent that the number of bonds the United States sells is a problem—and it is a problem—it is not because it gives others leverage over America. It is because it is reflective of decades of out-of-control spending, which must […]
The revelations about offshore accounts contained in the so-called Panama Papers are sensational, but they are unlikely to put an end to these tax havens favored by the world’s rich and powerful. Read Here – BloombergView
Apple and the FBI are also aware that their domestic fight may have serious international repercussions. The outcome of their dispute will create an important precedent for foreign law enforcement agencies that seek data from Apple and other technology firms such as Facebook and Google. Read Here – Foreign Affairs
The International Monetary Fund (IMF) deserves credit for effectively responding to the global and European financial crises. However, the institution will face different and potentially more difficult challenges in the next five years as it struggles to come to terms with a changing international power order and lending rules that are not well suited to […]
The blending of left- and right-wing programs is hardly novel. The Nazis proudly called themselves National Socialists. And Mussolini, who started out as a diehard socialist, didn’t give up his core belief in state control even after he found a more effective way of rousing disaffected Italian masses. From the late 19th century onwards, political movements […]
Clearly, economic inequality is a highly complex phenomenon, affected by a wide variety of factors – many of which we do not fully understand, much less control. Given this, we should be wary of the kinds of radical policies that some politicians are promoting today. Their impact is unpredictable, and that may end up doing […]
looking beyond borders 