The NASDAQ Composite Stock Index this week broke out to 14-year highs, reaching levels not seen since March 2000, within 10% of its all-time closing peak of 5,048.62 on March 10 of that year (by the end of that month it was already below current levels.) At that time I thought, along with many commentators, […]

Ever since the fall of Communism and the rise of the Internet, future growth has appeared to lie in emerging markets. Modern communications have made it much easier for multinationals to run international supply chains that take advantage of their abundant resources and cheap labor, while emerging markets people have become far more connected to […]

Fifteen years ago, it appeared that globalization was the most important trend of our time, and was irreversible. Since then the Doha round of trade talks has been stalled for years and even the modest progress trumpeted last December has been blocked by India, home of a new government supposedly dedicated to the free market. […]

As an instinctive opponent of Scottish independence but supporter of Britain leaving the EU I have to face an epistemological reality: the two positions are at first sight inconsistent with each other. As a rational man, I find that disquieting, so I thought I’d look at the economic effects of both moves and determine whether, […]