“Social market economy” is a vague slogan in European political debate. The term originated in Germany. But what does it … Continue reading “Ludwig Erhard’s social market economy – a liberal, not a social democratic concept”

It is commonplace to think, as Adam Smith did, of the wealth of nations. Now we should also focus on … Continue reading “Cities and the wealth of nations”

Will Asian emerging markets follow Latin America and the Middle East into the middle-income trap? Having enjoyed fast catch-up growth, … Continue reading “Asia and the middle-income trap”

The US, EU and China are the Big Three in the world. Since the global financial crisis, the conventional wisdom … Continue reading “The Big Three”

It is widely believed that India is forging a separate successful path to development, in contrast to the traditional comparative-advantage … Continue reading “Incredible India?”

In recent years, debates on international trade policy have focused on the role of the World Trade Organization and the … Continue reading “Trade Policy, New Century: The WTO, FTAs and Asia Rising”