The Great Depression-era economist understood that productive new businesses can rise from the rubble. But for that to happen, the old cannot be blindly preserved

Its 121-month expansion won’t last forever but what could bring on a downturn? 

Its own finances are precarious and the US and China are battling for control

Two years ago I argued in Prospect that globalisation was too deeply embedded to be reversed. Do I now need to reconsider?

In future, the wheels of international commerce will be greased by the dollar together with the euro and currencies from emerging powers. Crucially, this is no bad thing

Spinning beyond Brexit

After the financial crisis, governments staved off a second Great Depression - too well. This triumph let them duck tough reforms. Until now.