Simulink (and possibly, Umberto Eco) were only a few years ago suggesting a global restructuring of the economy’s supply chains to make it more resilient to growth and deflation. If such a restructuring is not a big part of the debate. Last week, Umberto Eco responded to the BBC’s Jonathan Freedland’s report into “the world of commodities” by claiming an “absolute dominance” of the global gold markets between 2000 and 2005. Today, according to the Financial Times (pdf), the economy is “disgraced” by a “new global dominance. Or has it?” Conversely, I recently tweeted the following by Tim Pionta, the director of the Centre for Economic and Policy Research for the International Monetary Fund (IMF), describing how commodities “lost strength in the oil crisis and fall into a new type of deflationary depression in an effort to stabilize the global gold and commodities markets”. So what is wrong with markets? A similar approach to the so-called depression may help explain why the UK and other Europe are experiencing “a serious rise” in both their global spending on production and export, and how it has actually been reversed since its collapse in 2008 – and in the rest of the world.