Everything we have published, newest first.
We are in the midst of a global obesity epidemic. This article exposes an opportunity cost hard to swallow: a market-driven crisis shaving 3.3% off OECD GDP. Unless policy steps in to tip the scales, national balance sheets will buckle under the weight.
8 min read
Behavioural frictions provide a persuasive explanation for part of the “irrationality” in the energy efficiency gap, but not a licence for indiscriminate intervention.
8 min read
An examination into Nepal’s booming hydropower industry, and whether long-term sustainability is possible, considering environmental and structural risks.
9 min read
Ethiopia's need for a better route to the sea is real, but a coast of its own could only be taken by force, at a cost far higher than Djibouti's fees.
7 min read
Whether or not Tucker Carlson is right about a nuclear strike this week, the target he names poses a problem that conventional weapons may not be able to solve. That problem will outlast his post.
12 min read
In pharmaceutical M&A, the most expensive mistake is paying a premium for a future that clinical trials may never deliver - and three years on, Seagen's pipeline is testing that thesis.
5 min read
Steam, electricity and computers each took decades to show up in productivity statistics. History suggests AI could pay off faster, but history also tells us that gains depend on how quickly firms reorganise.
9 min read
Every Wednesday, Newcastle's sports societies turn a post-match tradition into one of the city's most predictable markets. A survey of 106 students shows where the money goes, why students keep spending it, and how venues price to take advantage.
13 min read
Anthropic is preparing to go public, but is the market ready for its extraordinary cash flows, speculative financing and mountain of infrastructure commitments built in pursuit of ever more powerful AI? The US economy is now hoping Anthropic can eventually turn that promise into certainty, and the question is: how long will Wall Street wait?
6 min read
Bosnia's voters have rewarded the very leaders who stand between them and Europe, and the EU has made that obstruction cheap. Brussels can still pull the country west, but only if it stops waiting for Bosnia's leaders to make the first move.
10 min read
On 28 October, John Healey delivers his first Budget as Chancellor. He has made three promises that pull in different directions, and the numbers have moved against him since he made them.
8 min read
Germany has a reputation as a global powerhouse but in recent times its economy has struggled. Long term factors, geopolitical shocks and government responses shaping the German economy, all beg the question: can Germany climb its way back?
10 min read
The government's new first-time buyer scheme promises to make homeownership more accessible and boost housebuilding. But how much of the benefit will reach buyers, and how much could end up with developers?
7 min read
Britain’s turn to drones and a ‘hybrid’ navy is sound strategy but funded at the margins and arriving in years with no money allocated, it is modernisation bought on an austerity budget.
10 min read
Robert Hall and Michael Woodford won the 2026 Nobel Prize in Economics for rebuilding macroeconomic models around how households and firms form expectations. This piece provides an insight into their work and what it means for central banks today.
7 min read
As global passive ETF assets under management approach $24 trillion, billions in savings are rushing into index-tracking fund for a sense of diversification, and the market structure is being changed dramatically. From the loss of active price discovery in market to creating the passive feedback loops for investor, the loss of active arbitrageurs in market is creating an enormous concentration risk for investors.
9 min read
Washington’s new sanctions have left no middle ground between Washington and its adversaries. The UAE has given way, Turkey is hedging, and India is bending, but the evidence indicates that the middle ground is not disappearing but moving.
11 min read
Fears over AI’s potential existential threat have entered the economic mainstream. As the US competes with China to lead the technology’s development, the prospect of slowing its advance looks increasingly remote.
9 min read
Japan's currency has continued to fall despite rising interest rates, exposing the limits of monetary policy when global markets move against domestic priorities.
5 min read
In 2013 there were 39 unicorns. Today there are over 1,300. But how many of them justify their immense valuations?
13 min read