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A supermarket in Caracas, Venezuela, in August 2018. The prospect of prices doubling every hour encourages those who can afford it to horde. Hence the empty shelves and shortages. Miguel Gutiérrez/EPA

What caused hyperinflation in Venezuela: a rare blend of public ineptitude and private enterprise

Venezuela's hyperinflation has been caused by an inept public policy of printing more money and private individuals making the most of differences between official and unofficial exchange rates.
London’s financial district at night. Gordon Williams/Unsplash

LIBOR: elections, manipulations – and a possible fix

The London Interbank Offered Rates is one of the world's key financial tools, but the 2008 rigging scandal has led to calls for its being phased out. Can we find better ways of building the LIBOR rate?

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