Mexico appears to face a dismal future after its election on 6 June this year. The leading candidate Claudia Scheinbaum is a devoted follower of current President Manuel Lopez Obrador, and according to current polls is likely to win and thereafter follow his hard-left policies. The opposition candidate Xóchitl Galvez combines the forces of both […]

The interminably prolonged era of zero-interest-rate “funny money” in 2010-21 produced an unparalleled tsunami of “malinvestment” – investment that was not economically justified in normal conditions – in both the United States and throughout the world. This tottering ziggurat has held up in 2022-23, despite soaring interest rates. But there are signs that, as 2024 […]

The wooly-headed economist Henri de Saint-Simon (1760-1825) divided humanity into two classes: the laboring classes (which included merchants and industrial management) and the idling class, who should be suppressed. Investors were included in the idling class, as Saint-Simon failed to recognize the importance of capital allocation in economic development. Keynes, with his “euthanasia of the […]