Man who had exchanged his $1,000 of savings for gold in 1970, while the gold window was still ajar, would have received just over 26.6 ounces of the precious metal. At the time of writing, with gold t...
Los regímenes constitucionales basados en el imperio de la ley son a su vez más susceptibles de experimentar revoluciones financieras que alienten tanto la inversión extranjera como la formación inter...
Los inversores prefieren colocar su dinero en países donde los derechos de la propiedad privada estén protegidos de manera eficaz, aunque esto debería ser considerado como un requisito mínimo. En
It’s not owning property that gives you security; it just gives your creditors security. Real security comes from having a steady income,
It was said to be ‘hardly in the power of liquor to affect Dr Webster’s understanding or his limbs’. Yet no one was more sober when it came to calculations of life expectancy.
It is not ‘Eurocentrism’ or (anti-)‘Orientalism’ to say that the rise of Western civilization is the single most important historical phenomenon of the second half of the second millennium after Chris...
Hapless
Feckless
Every one per cent increase in the Bank of England’s base lending rate correlated with a three per cent drop in government popularity.
Constrained
By the second decade of the twentieth century the gap in living standards between London and Beijing was around six to one, compared with two to one in the eighteenth century.36
Biggest changes in history are the achievements of thinly documented, informally organized groups
Armed with an AK47 - a gift from Fidel Castro, the man he had sought to emulate. As the tanks rumbled towards him, Allende realized it was all over and, cornered in what was left of his quarters, shot...
Approach reveals a point that is often overlooked. It is certainly desirable that societies with bad institutions should get better ones. We see that process going on today all over the world, in much...
Agencies began to downgrade scores of RMBS CDOs (short for ‘residential mortgage-backed security collateralized debt obligations’, the very term testifying to the over-complex nature of these products...
Academic literature. Major influences on my thinking include Douglass North, who won the Nobel Prize for Economics for his work on institutions; the pre-eminent economist of modern Africa, Paul Collie...
Why exactly has social mobility declined in the United States in the past thirty years, so that the probability has more than halved that a man born into the bottom 25 per cent of the income distribut...
When bond prices fall, interest rates soar, with painful consequences for all borrowers.
What the complacent Russians forgot was that their strengths – above all, their technological superiority – were not a permanent monopoly conferred by Providence on people with white skin. There was i...
Was there something distinctive about American civil society that gave democracy a better chance than in France, as Tocqueville argued? Was the already centralized French state more likely to produce...