To Protect Democracy, Reform It

LONDON – Democracy may be “the worst form of Government except for all those other forms that have been tried from time to time,” as Winston...

In Defense of Cosmopolitanism

LONDON – Cosmopolitanism gets plenty of bad press nowadays. “Cosmopolitan” is often paired with “elites,” as in the cosmopolitan elites who...

PS Say More: Andrés Velasco

Was Marx Right?

SANTIAGO – In Santiago, Chile, a massive graffito by the exit ramp of a brand-new, privately-built urban freeway reads: “Marx was right!”...

Bipolar Economics

LONDON – How can we know if an economic policy is achieving its stated objective? Well, we can create two similar groups, randomly allocate the...

Santiago Under Siege

SANTIAGO – At least 19 dead and untold wounded. A half-dozen subway stations attacked with firebombs. Hundreds of supermarkets vandalized and...

Argentina’s Recurring Nightmare

LONDON – Argentina has done it again: inflation is up, growth is down, and the peso has lost two-thirds of its value. Depositors have been rushing...

Saving Venezuela

SANTIAGO – Venezuela remains in free fall. Home to the world’s largest proven oil reserves and once Latin America’s wealthiest country, it is...

Will Facebook’s Libra Turn into a Cancer?

LONDON – When it announced its plans to launch a cyber currency, Facebook emphasized that its Libra will benefit “people with less money [who] pay...