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  This article addresses America’s current financial and economic situation. What it is not, is a treatise on tariffs or US politics – those two topics have been very thoroughly covered by a plethora of commentators. Rather, our focus herein is to examine America’s situ by employing the Austrian business cycle’s theoretical framework to better […]

  In Berlin, the Social Democratic Party, which took a drubbing in recent elections, dominates the governing program of the coming four years. Policies that were rejected by the majority of voters will continue with some lukewarm adjustments. Likewise, in Paris, President Emmanuel Macron, having lost center and left voters in the last French national […]

  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 […]