Growth theory doesn’t make for pleasant reading these days. Indications point to challenges ahead.
Regime Change in the Global Economy
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Economics
A Bad Year for Markets?
Market fundamentals are shifting from tailwinds to headwinds. Investors ought to prepare for more volatile conditions.
The Power and Poison of MMT
Modern Monetary Theory (MMT) is misunderstood by its defenders and detractors. Elements of it can be useful, others are dangerous.
America’s Democratic Future
Demographics are friendly to Democrats. But without safeguards to voting rights, majorities may not matter.
Crime in Suites and Suits
The dramatic securities fraud trial of Elizabeth Holmes is front and center in the news. Yet, it is just another episode in the long history
The ECB’s Savvy Gradualism
Unlike the US Federal Reserve, the European Central Bank has no fiscal backstop and must worry about the cohesion of the eurozone, in addition
Is Capital Eating Labor’s Lunch?
Is labor really getting a raw deal? Measured properly, the evidence is not as grim as some suggest. Looking ahead, productivity remains paramount.
Why the Fed Must Tighten
The Fed at risk of losing their credibility as guarantors of price stability unless they now respond to inflation.
The Ghost of Christmas Inflation
In a pandemic, you can send people all the money in the world and they still won’t go out to dinner or book a flight, especially if those
History’s Barriers to European Joint Security
Although France and Germany are more reliant on each other than ever, the two heavyweights at the heart of Europe still have vastly different
Does Japan Vindicate Modern Monetary Theory?
For decades, the Japanese government has amassed more and more debt without triggering higher borrowing costs or inflation. But there is no
Crime and Politics
After decades of falling, violent crime is again on the rise in the US. Politics follows crime, making crime a wild card in next year’s
GDP’s Days Are Numbered
Economists have long know that Gross Domestic Product (GDP) is a poor representation of society’s well-being. Promising alternatives are
Inside America’s Polarized Views on Race
We are not color blind. We form views on race and inequality that defy statistics and analysis. Overcoming racial inequality will be an enduring
Misreading China’s WTO Record Hurts Global Trade
A successful global trading system requires good faith actors. In recent years, the US has undermined its standing by acting in bad faith.
Finding Purpose in the Humanities
STEM prepares us to tackle technical problems. The humanities prepare us to tackle life’s problems. It is time to restore the humanities
Hacking the Tragedy of the Commons
Success in achieving net-zero emissions requires broad buy-in from the entire private sector, not just publicly listed companies. Fortunately,
Time to Overhaul the Global Financial System
For low- and lower-middle-income countries to pursue their development goals and do their part in tackling problems like climate change, they
Can the Fed Overcome Its Transitory Policy Mistake?
The later the US Federal Reserve is in reacting properly to inflationary developments, the greater the likelihood that it will have to hit
Digital Finance Without Cryptocurrencies
Digital payments and financial transactions hold the promise of greater convenience, stronger competition, and increased savings to society.
Capitalism Without Capital?
Capitalism without capital has been wonderful for investors, but it’s time is over and new models are needed.
The Case Against Green Central Banking
Addressing climate change is vital. But so too is sound central banking. Keeping those tasks separate is best.
Reeling in a Deal to Save the Ocean
The oceans are our commons. We must act before they become our tragedy. The upcoming WTO meeting offers an opportunity for a fresh start.
The Inflation Conundrum
From the US and Brazil to Turkey and India, growing price pressures are leaving policymakers facing some difficult decisions. Unlike in many