Slowbalization: the steam has gone out of globalisation

When america took a protectionist turn two years ago, it provoked dark warnings about the miseries of the 1930s. Today those ominous predictions look misplaced. Yes, China is slowing. And, yes, Western firms exposed to China, such as Apple, ...

Political thought: The threat from the illiberal left

Something has gone very wrong with Western liberalism. At its heart classical liberalism believes human progress is brought about by debate and reform. The best way to navigate disruptive change in a divided world is through a universal ...

Temporary income hypothesis: Does perishable e-money represent the future of fiscal stimulus?

“If you want to see how the free market really works this is the place to come,” said Milton Friedman in “Free to Choose”, his 1980s tv series. He was sitting on a cross-harbour ferry in Hong Kong. The city, he said, was an “almost ...