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Trade protectionism involves restraining imports through various policy measures including tariffs, quotas, and subsidies to protect domestic industries from foreign competition. On the other hand, cronyism refers to the practice…

Speculative bubbles are not the product of irrational behaviour, as many tend to believe. When the price increase of given sets of goods or assets (bitcoins, tulip bulbs, houses, stocks)…

In many countries, there is a demand for regulation of gambling, as gambling is considered a vice with potentially harmful consequences. However, regulating gambling and similar goods is somewhat problematic.…

The Arab world is known for its rich history and diverse culture. Yet, it faces significant hurdles on its path to economic development. In the last two decades, the Arab…

The world is warming up and now “boiling”, according to the new definition by UN Secretary-General António Guterres. Yet, instead of tackling the “climate crisis”, governments are subsidising fossil fuels.…

Although the global economic performance shows signs of improvement, growth remains fragile. Certainly, lower energy costs contribute to slowing down the rise in prices and this is good news for…

Introduction The European Stability Mechanism (ESM) backstops the euro. Its nominal size is €705 billion but its lending capacity is lower at €500 billion, and the main condition attached to…

La Niña has gone, and El Niño is back. They are natural phenomena originating in the Pacific Ocean and affect the weather all around the world. La Niña cools global…

Gambling, alongside tobacco and alcohol, is often regarded as a vice. The main reason behind this view is that gamblers often overlook the full extent of the costs involved in…

UK Consumer Price Inflation remained at 8.7% in May. The Bank of England has raised the cost of overnight money to 5% via increases in its Base Rate, and has…