Brexit’s Impact On The World Economy

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 […]

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The Moral Of The Greek Story

It’s easy to moralize Greece’s feckless borrowing, weak tax collection and long history of default, and hey, go ahead; I won’t stop you. But whatever the nation’s moral failures, what we’re witnessing now shows the dangers of trying to cure the problems of weak fiscal discipline with some sort of externally imposed currency regime. Read […]

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Can Scotland Go It Alone?

It’s not England from which many Scots wish to detach themselves. It’s London, the oversize hub controlling the revenue of an undersize empire. The Scots’ prickliness is understandable, and an untethered Scotland would satisfy the romantic yearnings of nationalism—Braveheart without the gore. Outright independence, however, would rupture valuable commercial ties for uncertain benefits. Read Here […]

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