Russia’s cutoff of gas supplies to Ukraine Tuesday caused alarm in Western Europe, much of which is dependent on Russia for gas, but was quickly resolved. However a Russian state that controls important natural resources and that operates by nationalist whim rather than by market demands potentially imposes huge costs on Western economies. The “peace […]

The Bear’s Lair’s examination last week of Latin American economies, which concluded that excessive inequality has combined with democracy to leave them trapped in a morass of poor economic policy and minimal growth no doubt left domestically-oriented U.S. readers unmoved. They should start worrying – there’s considerable evidence the United States is heading in the […]