If economists are to solve the problems that people care about, they must stop treating production as an afterthought and accept – as all
Economists’ Way Out of the Wilderness
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Economics
Trump’s First Test Will Be the Bond Market
The bond markets are watching. Trump and Bessent should consider themselves warned.
As We Welcome Trump 2.0
Every four years, on January 20 America celebrates the will of the people to elect its president and, frequently, to peacefully transfer power.
Maganomics: When Rhetoric Becomes Reality
President-Elect Trump promises tax cuts and deregulation that will boost trend US GDP growth. But it is very possible that demand outstrips
Can Trump Dump the Dollar?
US President-elect Donald Trump’s incoming administration will likely seek to weaken the greenback’s exchange rate. But whether
The Truth About Migration
Time and again, migration has driven human advancement. With the right policies, it will continue to do so.
A No-Brainer for Global Growth and US Jobs
With global growth slowing and many developing countries facing debt crises, the world needs another infusion of the International Monetary
Global Economic Perspectives 2025
The world economy in 2025 superficially resembles that of 2024. But, beneath a tranquil economic surface, important changes are taking place.
The Economic Consequences of Trump 2.0
The US president-elect’s signature policies will do almost nothing positive for less educated Americans or significantly improve the
Economic Development in a Protectionist World
As apprehension grows in China, Europe, and Japan about a possible trade war triggered by the incoming Trump administration, one should also
A Baseline Scenario for the Global Economy in 2025
In 2024, global geopolitics and national politics have undergone considerable upheaval.
The US Economy’s Trust Deficit
Declining trust in America’s institutions is not merely a contemporary phenomenon. It has real economic costs.
What If Trump Subdues the Fed?
More and more commentators are thinking the unthinkable: Donald Trump might end the Fed’s independence. The result would be calamitous.
Could He Do It?
The financial markets are near all-time highs, yet the ingredients for an epochal financial crisis appear to be building.
Trump’s Tariffs Will Backfire
While Trump appears eager to impose tariffs on everyone, China has always been his favorite target.
The Sources of Japanese Resilience
One day, when it comes to ‘democratic exceptionalism’, we may think ‘Japan’ not ‘the US’. Why? The answer is resilience.
Why Bidenomics Did Not Deliver at the Polls
Bidenomics didn’t work in the 2023 election because it focused on 20th century workers, not those struggling today.
Amazon Is Busting Democracy, Not Just Unions
Plutocracy is not just bad for democracy. It harms workers, too. We deserve better.
Trump’s Impossible Economics
Trump’s economic policies are incoherent and inconsistent. They are likely to lower living standards and lift inflation.
Trump Tariffs: The Good, the Bad, and the Ugly
President-elect Trump has promised to usher in wide-ranging ‘beautiful’ tariffs in 2025, but there is no lipstick that can make the pig
Trump’s Best Hope for Peace Is to Support Ukraine
US President-elect Donald Trump has claimed that he could end the Russia-Ukraine war in a single day.
Trump’s Inflationary Triple Threat
With unified Republican control of the White House and Congress, US President-elect Donald Trump is poised to pursue radical economic policies.
The BRICS Currency Charade
Last month’s BRICS summit in Kazan, Russia, was, like all summits, heavy on photo ops.
Once Again, It Was the Economy, Stupid
The economy played a critical role in the 2024 presidential race.