The European Union throughout its history has experienced periods of Euro-optimism and periods of Euro-pessimism, with crises scattered in between. Jean Monnet, a pioneering advocate of European unity, wrote that “Europe will be forged in crises, and will be the sum of the solutions adopted for those crises.” But the recent period of Euro-pessimism has […]
The Mammoth in the Room: Factors Behind Income Inequality
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. […]
Shale Oil: The Change Factor Within the Oil Market
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 […]
China on Our Doorstep
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 […]
Latin America: No More Pennies From Heaven
The economies of Latin America (LatAm) have fallen on hard times. After almost a decade of positive growth, the favorable external conditions are disappearing and prospects for growth seem grim. The IMF projection for 2015 is just 0.9%, the lowest growth rate since 2002, with the exception of 2009, the year of the Great Recession. […]