For a decade now Japan has virtually stagnated. Some blame this on a succession of unfavourable shocks that began with the bursting of the 'bubble' economy. More appropriate macroeconomic policies, targeting inflation and/or the exchange rate, could, in this view, lead to a revival. Others argue...

Economic integration, from the European Payments Union and the European Coal and Steel Community to the Common Market, the European Monetary System, the Single Market, and the euro, is one of the most visible, controversial and commented-upon aspects of Europe’s development since the end of...