Why did Labour lose so heavily in the UK? Partly it was ‘Brexit’, partly Corbyn.

To understand the results of the Italian general elections, one needs look no further than the vote distribution in Milan: the Democratic Party (PD) – the nominal Left – scored good results in the city centre, one of Italy’s wealthiest districts. Meanwhile, the suburbs voted, en masse, for Lega, a racist and chauvinist party. In […]

What is the logic behind austerity? The standard explanations given during the last five years do not hold solid ground. Many – including famous economists and central bankers – had supported budgetary cuts to restore market confidence. Markets, however, were hardly impressed: operators care about profits – usually associated with growth – and cuts in […]