Sam Vaknin's Articles in Business

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  • Switzerland's Cheesy Economy
    In a series of referenda in 2003-5, Swiss citizens transformed their country forever, economically aligning it with the European Union and opening it up to work migration. It was an uncharacteristic response to increasingly worrisome times.
  • The Economies of the Middle East
    On February 24, 2003, in the Islamic Financial Forum in Dubai, Brad Bourland, chief economist for the Saudi American Bank (SAMBA), breached the embarrassed silence that invariably enshrouds speakers in Middle Eastern get-togethers.
  • The Blessings of the Black Economy
    Some call it the "unofficial" or "informal" economy, others call it the "grey economy" but the old name fits it best: the "black economy". In the USA "black" means "profitable, healthy" and this is what the black economy is.
  • The Space Industry in Russia
    The recent (December 2005) spate of news about Russia's space program was decidedly mixed. According to Space News, the 17-country European Space Agency (ESA) declined to participate in Russia's $60 million, two-year Clipper manned and winged space vehicle program, a touted alternative to NASA's Crew Exploration Vehicle.
  • The Revolution of Symbols
    Five thousand years ago, people were still roaming the earth as nomads. They carried along their few precious possessions in their hands and on their backs. They hunted and gathered food at random.
  • Europe's Theme Parks
    War - especially coupled with a globally sluggish economy - has a contradictory effect on the consumption of entertainment. Disposable incomes plummet curtailing the sales of medium to big ticket items such as cruises and resort vacations.
  • The Economics of Expectations
    We are in the throes of a third wave. Instead of buying and selling assets one way (as tangibles) or the other (as symbols) - we increasingly trade in expectations (in other words, we transfer risks). The markets in derivatives (options, futures, indices, swaps, collateralized instruments, and so on) are flourishing.
  • Can Gross Domestic Product (GDP) Figures be Trusted?
    The GDP figure is vulnerable to "creative accounting".
  • Measures to Contain Inflation and the Trade Deficit
    Countries around the world - from Vietnam to Kazakhstan - have adopted these measures to reduce their burgeoning inflation and trade deficit:
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