Mauricio Macri’s surprise victory in Argentina last week has brought wild optimism to the Argentine markets, with the Merval index of Argentine stocks up 55% since late September. Yet Argentina’s sorry track record since 1943 and Macri’s lack of a Congressional majority suggest his chances of a long-term turnaround in Argentine economic fortunes are somewhere […]

The Cato Institute Annual Monetary Conference last week clarified my thought processes, and has solidified my conviction that the 21st Century economic malaise that has affected the United States and most rich countries has two causes: monetary policy and regulation. Questions that have puzzled me, notably why we have no inflation, have found potential answers, […]

Justin Trudeau’s election victory in Canada on October 19, after a campaign in which all three major Canadian parties had led briefly in the polls, was not unexpected. However it leads to a future very much resembling the past, in which government and debt grow inexorably, while the economy, ties with Britain and Canadian relative […]

The victory of Poland’s Law and Justice Party (PiS) in this week’s election has been decried by the international media as a renaissance of nationalist reaction over the enlightened liberalism of the previous Civic Platform government. In reality the enlightened liberals were liberal mostly in the American sense and altogether too subservient to the bureaucracy […]