Global Economy

Thinking through the economics of big cities sheds light on general principles of free markets.

Should the central bank try to simulate the banking system and stabilize money velocity?

We should hope that the medical art is not co-opted by governing elites (including those with an MD or MPH after their name) who believe that practicing medicine is as easy as checking off boxes and interpreting numbers on a computer screen. Such a simplistic view is undoubtedly a fatal conceit.

The political project of the euro is in deep trouble. Governments have pledged three-quarters of a trillion of our euros to put out the debt-crisis wildfire, yet interest rates on troubled sovereign debts are even higher than before the announcement of the bailout.

Somalia is experiencing progress according to several criteria, despite (or, some would say, because of) its lack of a strong central government. As a result, it is by far the fastest growing, fastest improving among all the less developed countries. This should be a model for the world. 

It's going to happen unless we get radical reform soon.

The money inevitably flows to the latest speculative fashion, whatever it happens to be.

Britain's government workers should man up and accept that the free ride is over.

The food-poisoning scare has ravaged Europe's agricultural sector, and losses have already spiraled into the billions.