By Jeffrey Frankel July 20, 2026 Fifty-two years have passed since the Carnation Revolution dismantled the Estado Novo—the longest-running authoritarian regime in Western Europe. Today, Portugal stands as a testament to the transformative power of democratic integration, functioning as a stable anchor within the European Union and the eurozone. Yet,…
For over half a century, the blueprint for economic development was clear: transition labor from subsistence agriculture to manufacturing, harness economies of scale, and climb the global value chain through exports. From the seminal works of W. Arthur Lewis and Raúl Prebisch to the structuralist models of Nicholas Kaldor, the…
In the rarefied air of high-end automotive engineering, there exists a unique breed of vehicle: the track-only hypercar. Built without the constraints of emissions regulations, safety mandates, or the practicalities of a daily commute, these machines are manifestations of pure, unadulterated speed. Among these, the Bugatti Bolide stands as a…
