The European Commission has fined Mastercard for stifling competition. This behavior of Mastercard had made consumer payments more expensive. Although antitrust law is not the same as criminal law, the reasoning behind punishment from criminal law can be informative here as well. …

May made clear that a rejection of her deal makes no Brexit more likely. A no-deal Brexit is apparently less attractive than staying in the EU. What are the economics? Although it could be strategy, the position of May seems a cold analysis of the costs and benefits of the…

According to the Saudi energy minister, the oil market is on the ‘right track’. In April OPEC will decide on its output policy for 2019. …

In Kenya, primary school students who wish to learn Mandarin Chinese can from 2020 onward. Kenya hopes to benefit from its citizens understanding the language of the fastest growing large economy. China has helped Kenya with developing the course. The economics of learning another language, like Chinese in Kenya, are…

Novartis has increased the price of a cancer medicine six-fold. The medicine was previously developed by a Dutch university hospital. Novartis has adopted the medicine under the EU’s ‘orphan medicines’ regime, is therefore protected from competition for 10 years and is hence legally able to raise the price this much…

The European Commission is imposing definitive tariffs on imports of steel products, in a bid to protect European steelmakers getting caught up in the trade war between the US and China. The US steel tariffs against China close off the US market for Chinese exporters, which then have to sell…

British firms in the financial sector are already moving assets to the mainland. More and more assets will be moved as the end of March comes near. The movement of financial assets is accompanied by relocating staff and occupying offices on the mainland. There are several economic effects to be…

China’s growth is slowing down. This also creates worries for other countries as China is an increasingly important trade partner for many. The remarkable GDP growth of China started with +14.2% in 1992 and has dropped to +6.9% in 2017. Although this decline is not to be neglected, it is…

China has put a lunar explorer on the far side of the moon. A first. The resulting research of course feeds our human curiosity. But how do such “moonshots” benefit the economy? There are several benefits to the economy of projects like a space program. It employs people, and uses…