Financial markets are ignoring bearish developments in international trade, which coincide with the end of a long expansionary phase for credit. Both empirical evidence from the one occasion ... Read More
In 2018, the total value of the EU’s imported and exported goods transported by sea to non-EU countries was EUR 2 006 billion. Sea transport accounted for 47% of ... Read More
The supply disruptions in the oil market may not be over, despite volatility and prices easing in the days after the Abqaiq attack. The repairs at the Abqaiq processing ... Read More
Using nominal GDP, or GDP deflated by the CPI, as the principal guide to the state of the economy is a common mistake which will eventually prove very ... Read More
China has made some silly errors in its conflict with the US, reflecting the arrogance that often afflicts every state actor. But the appearance that China is being ... Read More
In 2017 the European Union (EU) relied on net imports for 87% of its oil consumption. This ratio, known as the oil import dependency rate, is unchanged from 2016 ... Read More
The reason for persistent strength in the price of gold can be found in the changing relationship between time preference for monetary gold, and a new round of ... Read More
In “The General Theory of Employment, Interest and Money”, Keynes virtually created macroeconomics. But Keynes was a mathematician, not an economist, and did not fully understand free markets, ... Read More
This article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP does not represent economic ... Read More
In this article, we look at the implications of the new Johnson government: its strategy, the likely outcome of EU negotiations, and the golden opportunities to reform trade, ... Read More
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