How Inflation Radically Changes Economic Ideas

March 7, 2024-Inflation teaches us that supply, not demand, constrains our economies, and government borrowing is limited
The unexpected resurgence of inflation is a slap in the face, telling us that the consensus ideas of economic policy are wrong and need to change. Fortunately the "new" ideas we need are well tested and sitting on the shelf.
Inflation comes when aggregate demand exceeds aggregate supply.

The source of demand is not hard to find: in response to the pandemic's dislocations, the US government sent about $5 trillion in checks to people and businesses, $3 trillion of it newly printed money, with no plans for repayment. Other countries enacted similar fiscal expansions and reaped inflation in proportion. Supply is more contentious. Supply did shrink during the pandemic. But inflation spiked after the pandemic was largely over, and many "supply shock" industries were producing as much as before but could not keep up with demand.

WTO issues new edition of World Tariff Profiles

July 7, 2025-The WTO published on 7 July the 2025 edition of World Tariff Profiles, which provides comprehensive data on the tariffs and non-tariff measures imposed by over 170 economies. It is a joint publication of the WTO, the International Trade Centre (ITC) and UN Trade and Development (UNCTAD).
The publication provides summary tables listing the average "bound" (maximum) tariffs and applied tariffs for each economy for both agricultural and non-agricultural products as of end-2024.

Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective

July 3, 2025-Tokenization unlocks efficiencies like instant settlement, 24/7 trading, and fractional ownership-but real-world adoption depends on solving infrastructure and regulatory challenges, not just technology.
Market makers face key friction points in tokenized markets: fragmented liquidity requiring pre-funding across blockchains, lack of product-market fit without real demand, and operational complexity from 24/7 trading.