Digital technology and telemigration
Globalisation is simple. Arbitrage drives globalisation. When the cost difference across countries is larger than the trade cost, companies exploit the cost gap by buying low and selling high. Traditionally, this arbitrage mostly concerns trade in goods because it is easy to ship "things-that-we-make" across borders. It was much harder...
Read more
Overvalued currency—a discouragement to external sectors
It is true that trade is run by regulatory framework. With regard to international trade, global regulations like WTO rules, ICC norms, etc., work to operate cross border flows of goods and services. However, the economics of cross currency valuation has a role for an economy's competitiveness in international trade....
Read more
Why we need more Economists
In a recent commentary in The New York Times, Binyamin Appelbaum placed the blame for increasing inequality in the United States squarely at the feet of economists. He cited the work, among others, of the Nobel laureate economist Robert Lucas, who directed policymakers' attention toward the problem of growth and...
Read more
