Monthly Archives: September 2013

Oil prices: Worried wells

OVER the past month the price of Brent crude oil has risen by five dollars to $115 a barrel. The prospect of Western military intervention in Syria is one reason for the bump in prices, but not the only one.Markets … Continue reading

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Commodity price decline: A Marxist theory is (sort of) right

THE Prebisch-Singer hypothesis (PSH) was a staple of leftist economics during the second half of the 20th century. Raúl Prebisch and Hans Singer, working independently, showed that the “terms of trade” between primary products and manufactured goods tended to decline … Continue reading

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