Better Than the Alternatives

Compared with the previous peak of global capital, the amount of money flowing to poorer countries today is already small. Maurice Obstfeld and Alan Taylor, two economists, point out that less-developed countries’ share of total global debt is at an all-time low. In 1900, these countries accounted for 33% of the total; in the 1990s, the figure was down to 11%. In 1913, the countries … [ Read more ]

Think of a Number

Accountancy used to be boring. If only it still were.

Bubble Trouble – And What Policymakers Should Do About It

Article takes a look at “efficient markets” and “behavioural finance” theories and examines their relevance to financial market bubbles.

The Regulator Who Isn’t There

Does a global financial system need a global regulator?

Crisis? What Crisis?

The financial system has coped remarkably well with a horrendous couple of years.

Is Greed Good?

Only if it is properly governed. From “Capitalism and Its Troubles: A Survey of International Finance.”