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The New Mercantilist Challenge

The New Mercantilist Challenge | Horn APHuG | Scoop.it

Today, mercantilism is typically dismissed as an archaic and blatantly erroneous set of ideas about economic policy.

 

Neverthwless, the liberal model has become severely tarnished, owing to the rise in inequality and the plight of the middle class in the West, together with the financial crisis that deregulation spawned. Medium-term growth prospects for the American and European economies range from moderate to bleak. Unemployment will remain a major headache and preoccupation for policymakers. So mercantilist pressures will likely intensify in the advanced countries.

 

As a result, the new economic environment will produce more tension than accommodation between countries pursuing liberal and mercantilist paths. It may also reignite long-dormant debates about the type of capitalism that produces the greatest prosperity.

 

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Fuel smuggling in west Africa

Fuel smuggling in west Africa | Horn APHuG | Scoop.it

Heavily subsidised fuel prices in Nigeria have spawned a large-scale fuel smuggling industry in nearby Benin and Togo, where official prices are being undercut by as much as 15-30%. Canadian photographer Daniel Hayduk documents the illegal trade, which locals in one of Africa's poorest regions see as a vital part of a vast, informal economy


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