Essays & News

  In the past, globalization referred to an economic framework in which producers would make use of increasingly larger amounts of intermediate inputs – goods consumed in the production process – imported from all over the world. These new production models involved vast and widely distributed supply chains, transforming local and regional opportunities into worldwide […]

  Since his election last November, United States President Donald Trump has surprised the world with new ideas nearly every day. Last week, he delivered the biggest shock yet: He announced steep tariffs on imports into the U.S. “Is he insane? How dare he? We must resist! He is destroying the economy. A recession will follow! A […]

  The last few weeks have shown a classic of the Argentine economy: the need (or urgency) for an agreement with the IMF to avoid an exchange rate crisis and (in theory) eliminate exchange restrictions. There is talk of a $20 billion loan. Argentina continues to ask international markets for an expensive financial respirator. What […]

  This material was published as part of our “Publish with Us” series.  Abstract This article examines the economic costs of inflation from the perspective of the Austrian school of economics, emphasizing its redistributive effects, distortion of relative prices, and disruption of economic calculation. Inflation redistributes wealth, benefiting early recipients of new money while disadvantaging […]

  They charge us, we charge them, we charge them less. So how can anybody be upset? They will be, because we never charged anybody anything. But now we’re going to charge. Donald J. Trump   In a rather pompous fashion, with great fanfare and with his most loyal entourage attentively sitting in the audience, […]