Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
The fog of war, coupled with the output from multiple propaganda machines, makes it difficult to determine which side has the upper hand in any conflict. After the fall of Aleppo, it appears that President Bashar al-Assad’s forces are getting the upper hand. But are they?
Way - Course - Conflict - Market - Market
The best objective way to determine the course of a conflict is to observe black market (read: free market) exchange rates, and to translate changes in...