Economy

The US and Canadian military are tracking Santa with private money, and you can bet on the results, all due to a typo. It is the season when people’s gaze is waylaid by the shiny, sparkling, colorful paraphernalia of Christmas attention-seeking, and so it is increasingly difficult to write about an important topic not sprinkled with holiday jollity. My feeble attempt to gain readers a couple of years ago depicted Santa as a Marxist monster.

‘Liberation Day’ marked a real threat to the world, as it risked sparking a global trade war. On 2 April, Donald Trump announced the largest tariff hike since the Smoot–Hawley Tariff Act, 1930. This move reflected Trump’s views on international trade and the global economy: He sees trade as a zero-sum game that the US is losing, and, to him, tariffs are a way to help the American economy and public finances.

The energy sector covers the trade of two fundamental goods: energy (including heat) and fuels. An energy-sector enterprise may operate in the fields of generation, conversion, transmission, storage, trading, or distribution of these goods.

Competitiveness is a strange beast—always measured against outsiders, yet forged internally. In her annual address, European Commission President Ursula von der Leyen reminded us of a hard truth, one that “after Draghi and Trump” can no longer be ignored: competitiveness is not a game; it is a matter of survival.

Imagine two economists walking into a grocery store whose shelves are completely empty. One says: \"The problem is production — not enough goods are being created.\" The other one replies: \"No, the problem is demand — people aren’t spending, they’re saving. The state must stimulate consumption.\" This dispute still shapes how governments respond to crises, how they spend money, and how modern macroeconomic policy is justified.

It will soon be two years since rock rebel Javier Milei took office as president of Argentina. Since then, Argentina\'s economy has been shaken to its foundations. In a country with a deep-rooted public finance crisis, hyperinflation, and extensive subsidies, a government of uncompromising cuts took office and, within a few months, changed the fiscal balance, suppressed inflation, and reduced dependence on social transfers.

The history of Thanksgiving\'s origins is instructive for modern times in several respects. It is widely known that the first Europeans to set foot in the Americas faced severe hardships. Nearly half of them starved to death as agriculture failed in their new lands. Today, we no longer confront the hunger endured by the first pilgrims.

A New International Comparative Study by C4D Consulting on behalf of the Friedrich Naumann Foundation for Freedom reveals: a lack of structural reforms and the planned EU ban on combustion engines threaten up to one in three jobs in the automotive industry, weakening its innovative capacity. Instead of technology bans, open and competition-friendly framework conditions are needed to secure the European automotive industry in global competition.

According to the Fraser Institute’s latest Economic Freedom of the World report, Ukraine has once again found itself in the group of the least economically free countries in the world. Ukraine is currently ranked 143rd among 165 countries and territories, a slight improvement from the previous 150th place.

Economists have been fascinated by the question of the origins of prosperity since the very beginning of their discipline. Today, we know much more about it than Adam Smith did 250 years ago when he wrote The Wealth of Nations. In the mid-20th century, economist Robert Solow developed a model explaining economic growth through capital accumulation and population growth.