Features

Review: The struggle of Russia’s crony capitalists

12 July 2019

Anders Aslund’s new book explains how President Vladimir Putin’s old friends and colleagues grabbed control of Russia’s economic system. He’s hazier on what might happen next. The economy looks stable but who owns what may change. Oligarchs cannot afford to rest on their laurels.

Review: The conundrum of no good jobs

5 July 2019

Low unemployment in the U.S. and UK hides a grimmer reality, economist David Blanchflower argues in his new book. Weak wage growth and widespread despair have prompted people to turn to populist leaders. He makes a compelling case for why policymakers can still rev up growth.

Africa growth outlook puts democrats on back foot

3 July 2019

Ballooning populations mean per capita wealth is falling in key democracies Nigeria and South Africa. That’s a recipe for trouble. Alongside a stronger performance by autocratic Egypt, it also makes worrying reading for those who believe a democratic Africa is a more stable one.

Review: An economist learns the value of the local

28 June 2019

States and markets are major economic actors. Yet they are insufficient for understanding or fixing the world’s problems, Raghuram Rajan says in “The Third Pillar”. Communities play an underappreciated role. While fuzzy at times, it’s a refreshing way to look at familiar issues.

Pride brings out best in self-serving companies

25 June 2019

Big brands are flaunting their support for the LGBT community, including some who once did the opposite. It’s easy to be cynical, but if only short-term profit mattered, such gestures wouldn’t happen. With so much still to do, the support matters more than the motivation.

Tech’s finance push is disrupting regulators too

25 June 2019

Innovations like Facebook’s proposed digital currency challenge established banking rules. New arrivals are hard to pin down, weaken existing players, and invert the risks and rewards of competition. A joined-up global response is necessary - but will be hard to agree.

Guest view: Time for Trump to give Seoul its due

25 June 2019

Struggling South Korea has been importing more U.S. goods while Lotte Chemical invests in Louisiana. In return, the White House should exempt the country from threatened auto tariffs and take it off a currency manipulators watchlist, says Korea Society President Thomas Byrne.

Review: Counting the poor can miss the point

21 June 2019

A posthumous book by poverty expert Anthony Atkinson recounts the many complications of measuring deprivation. The efforts have been valiant and valuable. Still, numerous assumptions and estimates often hide the scandal of hardship, and the gains in the fight for human dignity.

Vision Fund may be Hotel California for investors

19 June 2019

SoftBank’s $100 bln vehicle is almost spent, and CEO Masayoshi Son’s Gulf sponsors are mulling whether to back a sequel. High returns help; toppy valuations don’t. The problem is that tightening Saudi and Emirati purse strings may dent confidence in current cash-burning startups.

Mario Draghi will leave one big task undone

19 June 2019

The ECB’s annual Portugal shindig is this year as much a celebration of its outgoing boss as a deep dive into the euro’s first 20 years. The Italian bequeaths his as-yet-unnamed successor the unfinished job of boosting low inflation. That will be hard unless fiscal policy helps.