Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.

Self-deception ultimately explains Japan's plight. The Japanese have never accepted that change is in their interest - and not merely a response to U.S. criticism.

The consumer, so it is said, is the king... each is a voter who uses his money as votes to get the things done that he wants done.

Wall Street indices predicted nine out of the last five recessions!

Economics has never been a science - and it is even less now than a few years ago.

Funeral by funeral, theory advances.

An intriguing paradox of the 1990s is that it isn't called a decade of greed.

Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.

What we know about the global financial crisis is that we don't know very much.