Columns

Holding: EU may spoil FBI bid to hack Apple phones

16 January 2020

A deal allowing U.S. firms like Facebook to move data from Europe is already fragile. It might break if the iPhone maker bows to criticism from Donald Trump and others and unlocks a mass shooter’s devices. Law enforcement matters, but privacy shouldn’t be so easily breached.

Hadas: Ghosn caught in non-prisoner dilemma

15 January 2020

The self-liberated former Nissan boss dodged Japanese justice, but took his conscience with him to Lebanon. His decision to flee would be hard to justify without insistent claims of total innocence. Still, the moral and practical case for showing some contrition is strong.

Hadas: Fiscal deficits are A-OK after all

8 January 2020

It turns out economists can learn from experience. Decades of disinflation and years of extreme monetary policy have reversed the conventional wariness of government borrowing. The new pro-deficit thinking could moderate the next recession, but then rekindle unwanted inflation.

India Insight: Onion prices add to nation’s tears

23 December 2019

Amid violent protests over a citizenship law, Indians are also having to deal with poor harvests for this staple of the curry dish. It’s a glimpse into how changing climate patterns will exacerbate inefficiencies and create more of the volatility famous for toppling governments.

Hadas: Maybe Paul Volcker wasn’t all that great

17 December 2019

The U.S. central banker, who died on Dec. 8, supposedly broke the 1970s inflation with recession-inducing high interest rates. After 40 years of falling inflation worldwide, his contribution looks less certain. He also missed an early chance to criticise financial deregulation.

Chancellor: A 300-year bubble worth remembering

12 December 2019

Next year marks the tricentennial of England’s most notorious speculative mania. Even the great mathematician Sir Isaac Newton couldn’t resist The South Sea Company’s charms. Unicorn and cryptocurrency crazes suggest financial practices haven’t improved much over the centuries.

Hadas: Workers on boards make good capitalists

11 December 2019

A clever new study shows German companies whose employees sit on supervisory boards invest more than those without. Wages are higher and profitability is no lower. The model may be hard to replicate. Still, it’s a reminder that cooperation can outperform conflict.

Hadas: Autocrats learning “just-enough” economics

4 December 2019

Growth may be faster and fairer in democracies, but oppressive governments aren’t threatened. Globalisation and ever-cheaper technology have made it easier to scrape out enough gains to preserve their popularity. It takes Venezuelan-scale mismanagement to foment massive unrest.

Hadas: GDP is a measure ready for retirement

27 November 2019

The fuss over China’s revised growth statistics points to peak uselessness of the 85-year old Gross Domestic Product. Too many countries mess with a number which gives slow, blurry readings of the economic pulse, especially for megacities. The future is “now-casting”, and more.

Hadas: Hong Kong tips Beijing’s balance quandary

20 November 2019

The territory’s economy is already hurting as residents battle the forces of oppression. The damage could multiply, if Xi Jinping were to follow the kind of tough strategy he’s using in Xinjiang. It is the autocratic dilemma: discontent rises with the costs of squelching it.