Monetary policy

End-of-cycle anxiety

The current economic expansion in the US is only five months away from being the longest ever recorded. And with unemployment near historic lows, and consumer and business confidence showing great strength, it is difficult to foresee an imminent derailment of the US economy. However, human minds function largely on the basis of anticipation, and … Continued

Democracy and economic prosperity

Does the form of government condition economic performance? And if so, is democracy superior to an authoritarian rule? We tend to think like this because most developed economies are democratic, but you cannot tell whether they are rich because of, or in spite of, being democratic; or if economic success has helped these societies to … Continued