Cuba had bought into the Soviet Union’s economic system, but like the European satellites, it could only stop its people from choosing the West’s economic system by forcing them to stay
It is hard to compare Donald Trump to anyone else in American politics, especially when it comes to the economy. The president-elect plans to combine restrictions on goods imported from abroad, which are usually advocated by liberal politicians, with conventionally Republican policies, such as tax relief for the wealthy and major corporations, along with more federal borrowing.
The cut in corporation tax would reduce the incentive to shuffle money offshore – countries that compete by having low corporation tax rates would suddenly find that advantage swept away. The playing field would be levelled towards the US
You can see the scale of this shift gradually dawning on the financial markets this week. To take one particular measure of the expected rise in interest rates, the yield on ten-year US Treasury securities rose from just over 1.8 per cent on Monday to nearly 2.2 per cent on Friday
The ride-sharing app means different things in different countries. In Karachi and Lahore, it has highlighted economic inequalities
The Donald's attitude to the US Federal Reserve is hostile. How this might pan out is anybody’s guess – but a threat to the stability of the dollar could destabilise the entire world economy
The new technologies do not entail a radical reshaping of modes of doing things. A driverless car is still a car. The internet and email may improve the speed of communication but it is not as radical as the advent of telephony
This week in economics look out for US GDP figures, index of services and US consumer surveys
The two economists were named by the Royal Swedish Academy today for their work on contract theory
The presidential election, whoever wins, may see a shift in the position of the US on freedom of global trade and investment flows
What does GDP tell us about how prepared an apprentice or graduate is for their first day at work? What do gross margins let us know about the integrity of the financial services industry? Little to nothing
Negative rates point to the fact that the global economic system cannot generate sufficient income to service, let alone repay, current debt levels - and that means trouble
He may have expressed it rudely, but the evidence suggests that the Trade Secretary was right to criticise Britain’s business leaders
'Although individual businesses continue to report strong trading conditions, the overall picture suggests a sharp slowdown in UK growth lies ahead'
Our Economics Commentator says that, after seven years of ultra-easy money, we must look to America for the answers
Economic forecasts and statistics should remind us that we live in a complex and internationally connected economy – so don't forget the bigger picture