A street vendor selling Greek shadow-puppet theatre figures  in Athens: Greece remains internationally uncompetitive, as shown by the sluggishness of its exports. Photograph: Kostas Tsironis/Reuters

Since the election of Greece’s Syriza-led government, negotiations over its place in Europe have gone terribly, with posturing on one side and anno(...)

At the very least US spenders will, once again, have to pull not only their own economy, but much of the rest of the world. Photograph: Michael McCloskey

Why is the dollar so strong? It has soared 25 per cent on a real trade-weighted basis in the past four years, evoking memories of ascents in the early(...)

The smart money is clearly on a negotiated settlement, but only after a good bit of sabre-rattling. Photograph: Getty Images

It is said that the reason universities are such snake pits of political intrigue is that the stakes involved in most academic arguments are trivial. (...)

Yanis Varoufakis, Greece’s finance minister (left), with George Osborne, the UK chancellor of the exchequer, in London on Monday. Photograph: Matt Dunham/Pool/Bloomberg

Maximum austerity and minimum reform have been the outcome of the Greek crisis so far. The fiscal and external adjustments have been painful. But the (...)

Political leaders walking in solidarity after the attacks in  Paris. Photograph: EPA

How are we to understand last week’s events in Paris? Why are people prepared to kill and die for their beliefs? How should liberal democracies respon(...)

“The only function of economic forecasting is to make astrology look respectable,” – John Kenneth Galbraith

As the late John Kenneth Galbraith remarked: “The only function of economic forecasting is to make astrology look respectable.” But that does not mean(...)

Shibuya Crossing in Tokyo. Demand deficiency syndrome has afflicted Japan since the early 1990s and the US, euro zone and UK since 2008 at the latest. Photograph: Getty Images/Flickr RM

The principal high-income economies – the US, the euro zone, Japan and the UK – have been suffering from “chronic demand deficiency syndrome”. More(...)

‘Atmospheric concentrations of greenhouse gases are at levels not seen in at least 800,000 years. In addition, human-caused emissions of such gases have risen consistently.’ Photograph: Getty Images/iStockphoto

The Republican victory in the US midterm elections was a triumph for its strategy of sustained vilification of the president and obstruction of his po(...)

Bundesbank president Jens Weidmann. With conventional monetary policy at its limits, the choice is between unconventional monetary policy or expansionary fiscal policy. Germany is extremely uncomfortable with both. Photograph: Ciro De Luca/Reuters

Might the policies of the euro zone result in a robust recovery? My answer is no. Since the euro zone generated 17 per cent of world output in 2013(...)

Economic commentator Felix Salmon
Wolf eats the Salmon

Our bubbly economists may be on the march, but at least they’re not as uppity as some of their British cousins. The pages of the New York Times were t(...)