From the effects of populism throughout the New and Old World to Russia´s slow, but steady positive growth, the IMF’s economic predictions for 2017 have had to take into account the geopolitical volatility. Frankly, it is hard to know what we can expect with so many unexpected precedents. In Europe, all eyes will be on […]
The current crisis has taught us some valuable lessons. At its core, the crisis illustrates the need to disregard age-old principles. Unfortunately, creditors’ dogged adherence to some longstanding doctrines has led to misconceived policies, inflicting unnecessary pain on some without putting an end to the crisis. For some, the question of whether recovery will come soon enough is still up in the air.
Differentiating the deeper causes of income inequality from those that are more accidental is difficult. When we examine our own particular environments, it is natural that we should focus on our immediate surroundings: our colleagues, neighbors and fellow citizens. We don’t often think about how those on the other side of the world are faring. […]
Until last year, oil prices had ranged from $90 to $100 a barrel for about a decade, notwithstanding a drop during the 2008-2009 financial crisis. By December 2015, the price of Brent crude had dropped to $36 a barrel. As a result, countries heavily reliant on oil exports like Saudi Arabia, have been forced to […]
Brexit shows the primacy of politics and emotion over economic rational calculation. It is very difficult to understand the decision of British people otherwise. Britain, or what would be left of it after potential secession by Scotland and Northern Ireland, is likely to become a less open economy with a long-term decrease in productivity potentially. […]