Time to liberate Australia’s economy. It needs to be freed from folklore that’s built up around the 27-year stretch sans recession. The reality is that the expansion waxed and waned during that period. Business cycles aren’t dead Down Under, despite Federal Reserve Chairman Jerome Powell’s only half-joking proposition in November that they are defunct in Australia. It’s waning now. That’s ...

The first results of Finland’s two-year experiment with a universal basic income (UBI) are in, and if they’re confirmed by further research, they will probably hurt the unconditional income cause. The trial run showed that “money for nothing” makes people happier but doesn’t inspire them to find work anymore than traditional unemployment benefits would. The Finnish experiment, conducted in 2017 ...

A US hedge fund is taking on the British government and major banks in protest at the pain inflicted on ordinary shareholders in the latest rescue of a troubled UK construction company. It is picking a tough battle, but its plan is far from doomed. The company in question, Interserve Plc, revealed outline details of a restructuring package designed to ...