Karl Polanyi’s 1944 work, The Great Transformation: The Political and Economic Origins of Our Timeexposes the myths of laissez-faire, which remain widespread in the West and elsewhere. By looking at economic and other transformations during the Industrial Revolution and beyond, he showed that there is nothing inevitable or “natural” about free markets, and that the … Read more
Below are five key things investors need to know as they begin their trading journey: 1. Rally time Stocks rose on Tuesday, boosted by encouraging news on inflation (more on that below). The Nasdaq Composite soared 2.43% and the S&P 500 rose 1.68%. Meanwhile, the Dow Jones Industrial Average ended the day up 408 points, … Read more
Sweden’s economy has in many ways suffered the same travails as the rest of Europe: recent bouts of crushing inflation and recession, and now the prospect of meager growth in a world riven by geopolitical and economic conflict. Yet this tiny Nordic country boasts a roster of high-tech entrepreneurs that is the envy of its … Read more
(Bloomberg) — China’s economy likely failed to emerge from its worst patch in five quarters, with an uneven recovery in July held back by consumer spending that still lags industrial activity and investment. Most read on Bloomberg Data due Thursday will show retail sales remained weak, according to the median forecast compiled by Bloomberg, despite … Read more
When America sneezes, the rest of the world catches a cold: is the oft-quoted saying that reflects both the dominant role the US economy plays in the world and the importance of its stock and bond markets to the wealth of investors around the world. Well, he may not have sneezed in the last few … Read more
Global debt recently reached a milestone. If you add up the debts of all countries on the planet, you reach a staggering $91 trillion. More than a third of that figure comes from one country alone: the United States. The country’s accumulated gross debt has reached $35 trillion, a figure so large that the International … Read more