China has become the largest economy on the planet and we’re witnessing a collective silent scream on behalf of the West in response to the loss of its worldwide dominion.
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. […]
One of the most remarkable economic events in the past two years occurred in the global crude oil market. The price per barrel dropped from $114 in June 2014 to $28 this past January. There are two main drivers for this dramatic fall in oil price: The technological innovation related to the extraction of shale […]
For the first time in recent history, the state of China’s economy is the object of examination, not only by “China experts” – provided such an animal exists – but by everybody interested in current economic conditions anywhere in the world. For the first time we are seeing that what happens to the Chinese economy […]
Ricardo Hausmann recently wrote a piece titled “Redistribution or inclusion?” for Project Syndicate. It provides a different view of the causes of inequality of income, looking particularly at developing countries. It points out that modern production requires many complementary inputs, many of which are present in advanced economies, but lacking in emerging economies. Some years ago a friend told […]