Free exchange

Our economics column offers rigorous analysis, insights into global trends and policy debates


Finance & economics

Want to be a good explorer? Study economics

The battle to reduce risk has shaped centuries of ventures

Finance & economics

India’s Licence Raj offers America important lessons

Even when a protectionist system is dismantled, its problems can endure

Finance & economics

Why commodities are on a rollercoaster ride

Pity Tommy Norris. And his real-world equivalents

Finance & economics

Who are the world’s best investors?

The answer is not hedge funds or quant shops or short-sellers

Finance & economics

The economic lessons from Ukraine’s spectacular drone success

National security is a weak argument for battery subsidies

Finance & economics

Stanley Fischer mixed rigour and realism, compassion and calm

The former IMF, Bank of Israel and Federal Reserve official died on May 31st

Finance & economics

How might China win the future? Ask Google’s AI

The country’s sprawling industrial policy is beyond mere human comprehension

Finance & economics

America’s scientific prowess is a huge global subsidy

And it is now under threat

Finance & economics

Economists are as confused as Trump about taxing the rich

Forget technocracy. The top rate is set by gut instinct

Finance & economics

What happens when a hegemon falls?

Why economists are turning to a 50-year-old book on the Depression

Finance & economics

Why economists should like booze

A martini doesn’t just steady the nerves after a rollercoaster week

Finance & economics

Trump’s sovereign-wealth fund won’t make America richer

It will just make the country riskier