COMMENTARY

Angry voters are easier to distract

TO DEFEAT populism requires coming to grips with a fundamental reality: bad economic policies no longer necessarily result in a government losing power. In fact, it is now entirely possible that irresponsible populists may actually strengthen their chances of being re-elected by making wilder...

COMMENTARY

Five lessons from the US government shutdown

TWO Fridays ago, a wave of relief spread across the United States. A completely pointless and highly damaging partial government shutdown was over. Unfortunately, what we learned from the episode was extremely worrying about both what is likely to come next and the country's longer-term...

THE BOTTOM LINE

Brexit does not matter outside UK

THE contours of the 19th and early 20th century were defined in part by a series of consequential British foreign policy and economic decisions.

The future of economic convergence

WHO can now sustain rapid economic growth? The answer to this question will determine not just the geography of prosperity in the coming decades, but also what the balance of global economic activity will look like in 2030 or 2050. Increasingly, it appears plausible that this balance will partly...

COMMENTARY

Serving up the First Bank of Starbucks with coffee

ON Aug 3, Starbucks made an announcement which, though little noticed at the time, amounts to a potentially massive shift in the organisation of finance. How did an international chain of coffee shops position itself to play a major role in upending not just how payments are made but also the...

COMMENTARY

Capitalism has to be saved from Economics 101

ALL across the United States, students are settling into college - and coming to grips with "Econ 101". This introductory course is typically taught with a broadly reassuring message: if markets are allowed to work, good outcomes - such as productivity growth, increasing wages and...

Trump's floundering handed Europe a trade victory in Washington

ON JULY 25, when US President Donald Trump appeared in front of the White House with Jean-Claude Juncker, the president of the European Commission, their joint statement and spoken remarks surprised many. The two sides agreed "to work together toward zero tariffs, zero non-tariff barriers...