Culture-based explanations for economic development are making a comeback, as economists try to answer an age-old question: why do some nations become richer than others?

The roots of behavioural economics can be traced back centuries; this fundamental discipline has helped economists explain why individuals sometimes make financial decisions that seem curiously irrational

When Russia seized Crimea earlier this year, the invasion triggered anger and fear across the western world. The White House, Brussels and Westminster were outraged. Their reaction was punishment by economic sanctions. Will it bring Russia to heel?