© 2019TheEconomistNewspaperLimited.Allrightsreserved.Neitherthispublicationnoranypartofit maybereproduced,storedina retrievalsystem,ortransmittedinanyformorbyanymeans,electronic,mechanical,photocopying,
recording or otherwise, without the prior permission of The Economist Newspaper Limited. The Economist(ISSN 0013-0613) is published every week, except for a year-end double issue, by The Economist Newspaper Limited, 750 3rd
Avenue, 5th Floor, New York, N Y 10017. The Economist is a registered trademark of The Economist Newspaper Limited. Periodicals postage paid at New York, NYand additional mailing offices. Postmaster: Send address changes to The
Economist, P.O. Box 46978, St. Louis , MO. 63146-6978, USA. Canada Post publications mail (Canadian distribution) sales agreement no. 40012331. Return undeliverable Canadian addresses to The Economist, PO Box 7258 STN A, Toronto,
ON M5W 1X9. GST R123236267. Printed by Quad/Graphics, Saratoga Springs, NY 128664 Contents The EconomistOctober 26th 2019
PEFC certified
This copy of The Economist
is printed on paper sourced
from sustainably managed
forests certified to PEFC
PEFC/29-31-58 http://www.pefc.orgPleaseSubscription service
For our full range of subscription offers, including digital only or print and digital combined, visit:
Economist.com/offers
You can also subscribe by mail, telephone or email:
North America
The Economist Subscription Center,
P.O. Box 46978, St. Louis, MO 63146-
Telephone: +1 800 456 6086
Email: [email protected]
Latin America & Mexico
The Economist Subscription Center,
P.O. Box 46979, St. Louis, MO 63146-
Telephone: +1 636 449 5702
Email: [email protected]One-year print-only subscription (51 issues):
United States..........................................US $189 (plus tax)
Canada......................................................CA $199 (plus tax)
Latin America.......................................US $325 (plus tax)PublishedsinceSeptember 1843
totakepartin“aseverecontestbetween
intelligence, which presses forward,
and an unworthy, timid ignorance
obstructing our progress.”
Editorial offices in London and also:
Amsterdam, Beijing, Berlin, Brussels, Cairo,
Chicago, Johannesburg, Madrid, Mexico City,
Moscow, Mumbai, New Delhi, New York, Paris,
San Francisco, São Paulo, Seoul, Shanghai,
Singapore, Tokyo, Washington DCVolume 433 Number 9166Europe
47 The Visegrad economies
48 North Macedonia rejected
49 Dutch environmentalism
49 Franco’s exhumation
50 CharlemagneFighting
overthebillBritain
51 The Brexit deal
52 Migrant deaths
53 BagehotThe end of
British exceptionalismInternational
54 Amazonian tensions in
the Catholic churchBusiness
56 Carving up Big Tech
58 BartlebyCreating
business cultures
59 Rich Germans’ past
59 America Inc reports
60 Mexico’s embattled
businesses
60 India slurps G&Ts
61 SchumpeterThe IPO
conundrumFinance & economics
63 Wells Fargo
64 Libra’s troubles
65 The power of Doing
Business rankings
65 Japan bashes foreign
investors
66 ButtonwoodThe appeal
of emerging markets
67 Germany and the ECB
67 Trade finance’s paper trail
69 Free exchangeDo central
bankerstalktoomuch?Science & technology
70 Detecting fake news
71 Genes and migration
72 Monkeys and oil palms
72 Treating Alzheimer’s
73 Sex-biased collectionsBooks & arts
74 Inequality in America
75 An everyday epic
76 European cultural history
77 Plautilla Nelli’s “Last
Supper”Economic & financial indicators
80 Statisticson 42 economiesGraphic detail
81 Shakespeare’sreputationtooka centurytodevelopObituary
82 Harold Bloom, colossus of literary criticism