“Voting for the C.D.U. Sunday meant putting a stop to Schr?der’s reform agenda…..But in the future, if the C.D.U. has power, there is no stopping the reforms.” says Morgan Stanley’s Elga Barsch (remember her?). This argument draws attention to an important enigma which must be puzzling a lot of people. As the New York Times [...]

Michael Mandel had an interesting take on the US trade deficit in Business Week earlier this month (btw: he also has a weblog).
His opinion is that the US trade deficit isn’t as big a deal as people often think. One of the reasons: that the ongoing import of human capital into the US (which of [...]

The euro reached its lowest level against the dollar in seven months last week dropping from a valueof $1.311 a month ago to $1.255 on Friday. This was the lowest level since last October. Undoubtedly there are a confluence of factors at work here: yesterday’s French growth numbers, longer term stagnant growth [...]

A self-proclaimed lifelong conservative and executive in the US financial industry doesn’t like what he sees around him in corporate behavior much more than Franz M?nterfering does:

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Delving into [...]

Tony Blair inched home to a historic Labour third term in the UK last week. But looking at the changing tempo of the British economy over the last couple of months, you could be tempted to ask: was this a case of ‘just in time’ electioneering?
At the present time there seems to be a general [...]

Views of immigration are changing. Back in the mists of time, when I first came to the conclusion that ongoing demographic changes were going to be important, the voices in favour of a reconsideration of immigration policy were few and far between. Perhaps the first and most notable of these voices was the UN population [...]

Currency traders around the globe lazily staring into their screens must have found themselves transfixed last Friday when the flatline indicating the value of the Chinese yuan (or renminbi if you prefer) suddenly jumped to life. And so it was that during a brief 20 minute interval the yuan surged to a level of 8.270 [...]

Like most numbers of the Spectator, the festive, XL-sized holiday edition is marred by the presence of Mark Steyn. But don’t let that put you off, there’s some good stuff there as well. And one of the better bits is an essay by Prof. Norman Stone on Turkey (Potential EU Accession of) (reg. req.).
For the [...]

Digital distribution changing industries? So very 1999.
Think again.

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The world of physical sales is a world of scarcity. Limited shelf space, limited distribution channels, limited display area; limits wherever [...]

That the US jobs report last Friday showed continuing weakness in the labour market is certainly by now far from breaking news. I wouldn’t however want to let it pass by without comment. I think it is now abundantly clear that there is a pattern in all this somewhere (what that pattern is precisely, and [...]