Following Their Leaders: Anchor and Derivative Preferences

In my previous post in this series, I described how Randall Holcombe separates our instrumental preferences (the outcomes we prefer) from our expressive preferences (what we prefer to express). But there is another, more important preference classification he outlines. Holcombe suggests a major factor in how our preferences are formed is through the interaction of […]

An Approach to Teaching Rawls And Income Inequality

The “Great Enrichment” is suffering from success. A significant problem for poor people in developed nations is obesity. And the problems of extreme poverty have largely been banished in every nation that connects with the worldwide market for trade. The result is that the main talking point for leftist politicians is an outrage called inequality, […]

Are America’s regional banks over the worst of it?

More people are paying attention to America’s regional banks than ever before. But it is difficult to work out the state of their balance-sheets. Recent data from the Federal Financial Institutions Examination Council, a regulator, offer a glimpse. Our analysis suggests several regional banks are struggling with flighty deposits, interest-rate mismatches and pricey borrowing. Even […]

India’s once-troubled banks are generating huge profits

People looking for tips on how to run a bank do not often head to Mumbai, and for good reason. On May 2nd India’s Supreme Court ruled that the fraud-investigation office could prosecute auditors for their role in the collapse in 2018 of an infrastructure-finance firm backed by state banks. Last year four bosses at […]

The meaty mystery at the heart of China’s economic growth

Over the past few decades, the small, industrial city of Zibo has been best-known for its petrochemical output. In recent months, however, it has become the centre of a national barbecue craze and social-media phenomenon unlike anything China has seen before. Tourists have flooded the city in the central province of Shandong in the hope […]

A new world order seeks to prioritise security and climate change

After the cold war, America and Europe established an economic order based upon open markets, global trade and limited state meddling in the economy. Climate change was a distant threat. Allowing countries like China or Russia into the global economy was widely seen to be beneficial for both them and their Western trading partners. As […]

US needs to be ‘mature’ over debt ceiling negotiations, Germany’s Lindner says at G-7

Christian Lindner, German finance minister, told CNBC he hopes the U.S. will avoid adding further problems to the global economy. Johannes Simon | Getty Images News | Getty Images German Finance Minister Christian Lindner hopes American lawmakers will be “mature” over the debt ceiling negotiations to avoid further headwinds for the global economy. U.S. Congress […]

Yellen says the U.S. defaulting should be unthinkable

Janet Yellen, US Treasury secretary, during a news conference at the Group of Seven (G-7) finance ministers and central bank governors meeting in Niigata, Japan, on Thursday, May 11, 2023. Bloomberg | Bloomberg | Getty Images Treasury Secretary Janet Yellen said the idea of U.S. lawmakers letting the nation default on its debt should be […]

Covid caused huge shortages in the jobs market. It may be easing

Now Hiring signs are displayed in front of restaurants in Rehoboth Beach, Delaware, on March 19, 2022. Stefani Reynolds | Afp | Getty Images Since the onset of Covid-19, labor shortages have plagued major economies and intensified inflationary pressures, but economists expect this trend to finally abate this year. Central banks around the world have […]