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General Average
In the modern world of global commerce, it isn’t easy being small. Yes, if you go on the internet to book passage for a container of your precious cargo, the…
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Stuck in the Mud
On the morning of March 23, a container ship called Ever Given ran aground in the Suez Canal, blocking passage to the 50 or more vessels that transit the canal…
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Why Global Trade Won’t Depend on Bitcoin
Is Bitcoin really the currency of the future? Citibank seems to think so. Its new report on cryptocurrencies, detailed by the Financial Times, contends that Bitcoin could “become the currency…
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Trading in an EV World
Super Bowl LV makes it official. No, not that Tom Brady is the best quarterback in the National Football League; we were already convinced of that. The novelty is an…
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The Container Crunch
When a pandemic is raging, what do you do with your money? This is a question which has never much preoccupied economists, but we now know the answer: when you…
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Productivity and the Pandemic
Across from my apartment, there’s a new restaurant with a new way of doing business. No one hands you a menu or takes your order; instead, you use the QR…