ARTICLES

This November, Zohran Mamdani, 34, won the New York mayoral election, becoming the youngest leader of the city in over a century. Ugandan-born, Democrat and previously a relatively unknown state assembly member, he gained momentum through an online campaign focused on affordability. Among his proposals was the creation of a network of city-owned grocery stores. The policy aims to combat rising grocery prices and restore purchasing power of families. Mamdani argued that these

In the last 75 years, Argentina has suffered from chronic inflation. A temporary break occurred between 1991 and 2002 when the Argentine peso was pegged to the US dollar, but this led to massive public debt and the eventual abandonment of the Convertibility Plan. The period that followed was characterized by high unemployment and poverty, yet the peso was a cheap currency that made exports competitive, offering a glimmer of hope. The strong exports filled government coffers,

Until recently, globalization was promised as a simple tale of efficiency, and this tale of more trade, more complicated supply chains, and quick and cheaper finance was sufficient for quite a number of years. But today, this tale of efficiency comes across as quite naive because a significant part of international trade is still accounted for in dollars, many countries still hold most of their foreign exchange reserves in dollars, and many countries today are under sanctions