A pro-government activist throws a firework at policemen guarding the US embassy in Buenos Aires, during a protest against the US court ruling about “holdout” investors in Argentina. Photograph: Reuters/Enrique Marcarian

Not far from the London offices of the Financial Times was the Marshalsea prison where debtors were sent. In the 18th century, more than half of Lo(...)

ExxonMobil says it does not envisage a low-carbon scenario of the kind many climate researchers advocate. The company believes the costs this would entail, and “the damaging impact to accessible, reliable and affordable energy resulting from the policy changes . . . are beyond those that societies, especially the world’s poorest and most vulnerable, would be willing to bear”. Photograph: Andrey Rudakov/Bloomberg

How much of the world’s fossil fuel reserves will eventually be burnt? This is not just a question for those concerned with climate policy. It is a(...)

What the first World War had not done, the Great Depression, Nazism and the second World War did. By the time of D-Day the world economy had disintegrated. Photograph: EPA/Jamie Peters

This year is the 100th anniversary of the start of the first World War, the 70th anniversary of D-Day and the 25th anniversaries of the collapse of th(...)

“Mexico’s past offers a warning; its present offers hope. But it is far from certain that the programme of reforms will also be sufficient to generate the improved performance the country needs.”

If Narendra Modi, India’s prime minister, seeks an example of a democratically elected leader embarked on radical reform, he could look to Enrique (...)

 Former US treasury secretary Timothy Geithner discusses his new book ‘Stress Test, Reflections on Financial Crises’. Photo: Getty Images

Are financial crises an inevitable feature of capitalism? Must the government rescue the system when huge crises occur? In his book Stress Test , Timo(...)

Narendra Modi, the next prime minister of India, in Ahmedabad yesterday. He will change Indian politics and economics. Photograph: Amit Dave

Surjit Bhalla, an Indian economist, has written to me that India’s is “the most momentous election in world history”. I disagree: the elections of Abr(...)

Mario Draghi, president of the European Central Bank. Photographer: Jasper Juinen/Bloomberg

Mario Draghi, president of the European Central Bank, gave a clear indication last week that monetary easing would arrive in June. That would be welco(...)

The Gherkin and St Helens stand at the heart of the City of London. Photographer: Chris Ratcliffe/Bloomberg

High-income economies have had ultra-cheap money for more than five years. Japan has lived with it for almost 20. This has been policymakers’ principa(...)

Former US treasury secretary Lawrence Summers has argued that the high-income economies seem to be worryingly unable to generate good growth in demand without extreme credit instability. Photograph: Alex Wong/Getty Images

Why are real interest rates so low? And will they stay this low for long? If they do – as it seems they might – the implications will be profound: (...)

The reaction to French economist  Thomas Piketty’s ‘Capital in the Twenty-First Century’ shows the rising tide of anxiety about inequality. Photograph: Fred Dufour/AFP/Getty Images

Inequality is a hot topic right now. The reaction to Thomas Piketty’s Capital in the Twenty-First Century (...)