Immanuel Kant’s definition of our modern era and of the Age of Enlightenment was that “Enlightenment is man’s emergence from his self-incurred immaturity…The motto of Enlightenment is therefore: Sapere Aude! […]

First of all, allow us to start with some clarifications/definitions: Heraclitus Fallacy: The belief that history imposes no constraints. Failing to comprehend the past not only signifies ignorance, but is […]

We are now under the auspices of a zero-sum game world due to negligible productivity growth rate. Such a shift can be seen as a symptom of trade wars. We […]

Yesterday the IMF downgraded its projections for economic growth. In its announcement it warned that such action is the result of self-inflicted wounds created by a “precarious” trade war. At […]

Composite models that assess the risk of a recession in the next 12 months indicate that the probability of a recession happening in the next 12 months has fallen slightly. […]

What do the US and UK political developments as well as the stock market valuation have to do with the Peloponnesian War fought between Athens and Sparta (431-404 BCE)? In […]

In the course of the last couple of days the Fed has been injecting significant amounts of liquidity (to the tune of $75 billion per day) into the financial system. […]

The story of humankind has been a long tale of war, tyranny, misery, conflict, and illiberalism. To that extent the recent decades of relative peace and prosperity, along with the […]

Last Friday’s trade war escalation may not be substantial in terms of GDP impact but could indicate a turn in the ongoing trade disputes and may inflict significant damage in […]