Section: Economy
The best industrial policy is none at all

The best industrial policy is none at all

The temptation to pursue an industrial policy hangs over Switzerland. Yet recent economic history, from the watchmaking industry to the Lucens nuclear reactor fiasco, shows that state intervention weakens rather than strengthens the national economy.
Primitive capitalism has made a comeback

Primitive capitalism has made a comeback

American tariffs symbolize the resurgence of mercantilism. Imperial withdrawal, scarcity of resources, militarized trade: with the end of free trade, the global economy is reverting to its old reflexes. A zero-sum game in which all lose, except those who dictate the rules.
Who's afraid of the heterodox?

Who's afraid of the heterodox?

Economics is a language of models and equations. Yet its foundations are philosophical. Giving heterodox currents back their rightful place means restoring the vitality and pluralism of this discipline - and thus its link with liberalism.
Venice, medieval cradle of gentle commerce

Venice, medieval cradle of gentle commerce

I had come to celebrate my thirtieth birthday in the city of carnival. But behind the gondolas, I discovered an ancient republic built on water, order and trade. A precursor of free trade, more relevant than ever at a time of protectionist retreats.