Essays & News

  “This year’s laureates in the economic sciences, Robert E. Hall and Michael Woodford, have developed new macroeconomic models that have significantly improved our ability to implement effective stabilization policy. On the basis of these models, well-timed fiscal and monetary policy measures can reduce the economy’s peaks and troughs”. Announcement of Sveriges Riksbank Prize in […]

  In a recent address at the influential Valdai Discussion Club – a forum comparable to the Council on Foreign Relations in the United States – Russian President Vladimir Putin said Moscow could resort to nuclear weapons if NATO tried to cut off the Russian exclave of Kaliningrad. The Kaliningrad exclave sits on the Baltic […]

                                        For nearly four decades, the United States and Canada have steadily opened their economies to one another. The 1989 Canada–U.S. Free Trade Agreement, followed by NAFTA and later the United States–Mexico–Canada Agreement (USMCA), lowered barriers […]

  “I would like to set out in this book the reasons why the traditional state as a monopoly enterprise not only is an inefficient enterprise with a poor price-performance ratio, but even more importantly, becomes more of a danger for humanity the longer it lasts.” Hans-Adam II, Reigning Prince of Liechtenstein   First published […]

  The steam engine, followed by electricity, the combustion engine (leading to automobiles) and computers all brought tremendous improvements and productivity gains, leading to widespread prosperity in many countries. They also caused great anxieties and fear of unemployment. Yet, the increased prosperity created new demand, and the jobs lost, for instance in agriculture, were replaced […]