by Gunther Schnabl* The Brexit and the election of U.S. President Donald Trump were unexpected and were followed by a search for explanations. Subsequently, the common view spread that globalization is at the root of the frustrations of more and more people who are susceptible to strong nationalist statements from populists. This is surprising because … Continue reading Globalization Alone Does Not Produce Losers!
by Jerry O’Driscoll This post follows on my earlier one, “It’s All About Say’s Law.” Say’s Law of Markets answered the fears of under-consumption as the spreading industrial revolution brought forth an ever more bountiful supply of goods. The law’s logic is that production creates the income that is the source of the demand for … Continue reading Say’s Law Today