Economics

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Philip Pilkington

[long_description] The natural interest rate was the most important variable of monetary economics in the twentieth century. It has lingered in the background of economic policymaking, dictating the terms of debate for economic policy in general, and central bank policy in particular. The central banks pledge that if economists have enough faith in this unseen entity, we all will be the recipients of economic grace.

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Self-Made

Jean-Paul Fitoussi

[short_description] Richard Robb defines a category of actions that “are neither rational nor irrational, but rather one-time acts of will that no one, not even the individual who undertakes them, can predict.”

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An End to Globalization

Michael O’Sullivan

[short_description] The coronavirus crisis marks a transition to a new order in politics, economics, finance, and geopolitics. A contested century is in prospect, driven by a battle of emerging philosophies.

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Enter the Coronavirus

Henri Lepage

[short_description] The world is experiencing a telescoping of two events: a pandemic and a recession. The latter is generated at the level of the global wholesale money market by a growing scarcity of collateral assets.

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COVID-19 and the Global Economy

John Feffer

[short_description] COVID-19 is exposing the global economy’s fragility. Fundamental changes are afoot. The global economy post-COVID-19 will necessarily need to look different, says John Feffer.

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Good Eats

Vaclav Smil

[short_description] Affluent countries currently produce far more food than they need, or could ever hope to consume. Vaclav Smil examines the enormity of this waste and its effects on health.

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The Miracle of General Equilibrium

Philip Pilkington

[short_description] If general equilibrium theory does not accurately explain what happens in the real world, then what does? Philip Pilkington casts a critical eye over the foundations of mainstream economics.

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A Lingering Crisis

Henri Lepage

[short_description] Global economic recovery since the 2008 financial crisis has been weak. Henri Lepage reviews the work of economists at the Bank for International Settlements in Basel, who think they know why.

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One Euro, One Europe

Gilles Dryancour

[short_description] Sixty-seven monetary unions were formed between 1918 and 2012. They all failed. Will the European monetary union meet a similar fate? Gilles Dryancour assesses the Euro’s prospects for survival.

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Lo and Behold

Charles Goodhart

[short_description] Is macro-economics in need of a blood transfusion from evolutionary theories in biology? Charles Goodhart reviews Andrew Lo’s Adaptive Markets: Financial Evolution at the Speed of Thought.

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State of the Union

Michael Fumento

[short_description] Is fusion really the energy of the future? Michael Fumento explores its current prospects, including inertial and magnetic confinement, inertial electrostatic confinement, and compact reactors.

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Equal by Catastrophe

Victor Davis Hanson

[short_description] Is economic equality all it’s cracked up to be? Victor Davis Hanson reviews Walter Scheidel’s The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century.

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