The United Kingdom’s new Chancellor of the Exchequer Rishi Sunak has done what Prime Minister Boris Johnson wanted him to do following the forced resignation...
Liberal democracy faces a legitimacy crisis, or so we are repeatedly told. People distrust government by liberal elites, and increasingly believe that the...
While Brexit captures the headlines in the United Kingdom and elsewhere, the silent march of automation continues. Most economists view this trend favorably:...
Recently I watched “The Man Who Was Too Free,” a moving documentary about the Russian dissident politician Boris Nemtsov, who was gunned down in front of the...
Harvard University Professor Alberto Alesina has returned to the debate on budget deficits, austerity and growth. Back in 2010, Alesina told European finance...
The historian Norman Stone, who died in June, always insisted that history students learn foreign languages. Language gives access to a people’s culture, and...
This month marks the centenary of the Treaty of Versailles, one of the agreements that brought World War I to a close. In a sense, the tables have turned....
Almost all “robots are coming” stories follow a tried-and-true pattern. “Shop Direct puts 2,000 U.K. jobs at risk,” a typical headline screams. Then, quoting...
The United Kingdom’s protracted attempt to leave the European Union has upended the two illusions by which the world has lived since the end of the Cold War:...
Surveys from around the world show people want secure jobs. At the same time, they have always dreamed of a life free from toil. The “rise of the robots” has...
Almost all liberals support globalization and oppose economic nationalism. They ignore the mounting evidence that, in its current form, globalization is...
The United Kingdom’s “Remainers,” who still hope to reverse Britain’s decision to leave the European Union, have placarded British cities with a simple...
Bad economics breeds bad politics. The global financial crisis, and the botched recovery thereafter, put wind in the sails of political extremism. Between...
Liberal revulsion at U.S. President Donald Trump’s mendacious and uncouth politics has spilled over into a rigid defense of market-led globalization. To the...
Since June 23, 2016, when 52 percent of British voters backed exiting the European Union, the “Brexit” debate has been tearing British politics apart....
Slumps have always been boom times for monetary experiments, and the economic collapse of 2008-09 was no different. Underlying this recurrence is the...
Not so long ago, there were two competing explanations of unemployment. The first was the Keynesian theory of deficient demand, which holds that workers...
The poisoning of Russian double agent Sergei Skripal and his daughter Yulia at an Italian restaurant in Salisbury has driven an important story off the front...
Feb. 6, 2018, marked the centenary of the Representation of the People Act, which enfranchised (some) women in Britain for the first time – a reward for...
The tenth anniversary of the start of the Great Recession was the occasion for an elegant essay by the Nobel laureate economist Paul Krugman, who noted how...
Dispelling anxiety about robots has become a major preoccupation of business apologetics. The common sense – and far from foolish – view is that the more jobs...
With all the protectionist talk coming from U.S. President Donald Trump’s administration, it is surprising that no one has mentioned, much less sought to...
Who runs the European Union? On the eve of Germany’s general election, that is a very timely question.One standard reply is, “The EU’s member states” – all 28...
Russia’s Baikal-Amur Mainline railway “can be hardly named as a popular tourist attraction,” says one tourist website of the some 2,000-mile railway...