International economic cooperation is vastly underestimated and occasionally necessary. The US and China need to find ways to cooperate.
Resetting US-China Economic Relations
Continue Reading
Economics
The Fed: Set to Fail Conventionally?
The Fed has achieved its dual mandate of price stability and maximum employment. So why will it ease gradually and not all at once?
America Has No Alternative to Industrial Policy
Gone are the days when US politics was a divide between believers in free markets and those advocating for government intervention. To paraphrase
Analytical Volatility Is Worse than Market Whiplash
The US economic data released in early August triggered a brief but dramatic episode of financial-market volatility.
Is Gross National Happiness the Way Forward?
The idea that GDP is an inadequate indicator of well-being has gained ground in recent years.
Would Harris or Trump Be Better for the World Economy?
A major uncertainty looming over the global economy is who will be the next US president.
‘Whac-a-Mole’ Economics
Ever since the global financial crisis, politicians have jettisoned economic theory for reflexive solutions to economic challenges. Neither
The Dollar Is Everyone’s Problem
In recent decades, the US Federal Reserve’s monetary policy disproportionately affected emerging-market and developing economies.
The Fed’s Awkward Dismount
Fed Chairman Powell was poised to be hailed as the central bank gold medalist who stuck the soft landing. Has this changed?
To Preserve Democracy, Tax the Rich
According to a recent United Nations report, 71% of the world’s population now live in countries where inequality has increased.
How to Create More Good Jobs
In many countries, innovation and good jobs have become increasingly concentrated in a few places.
The Factors Behind US Investor Confidence
US stock markets have remained bullish in the face of deepening domestic and international risks, owing to three key factors. But with two
The Supreme Court Just Sabotaged the US Economy
Contrary to conventional wisdom, the Supreme Court’s reversal of the four-decade-old “Chevron deference” doctrine is potentially one
Why Are Stocks, Gold, and the Dollar Surging?
The US stock market has been on a tear over the past two years.
The Coming US Tax Battles
The controversial 2017 Tax Cuts and Jobs Act will expire next year, spurring heated fiscal debate.
The Way Forward for Ukraine’s Economy
With sufficient assistance from the West, Ukraine will prevail over its much larger and richer authoritarian neighbor.
Britain’s “Change Election” Changes Nothing
The Labour Party, campaigning on change, secured a historic victory in the United Kingdom’s general election.
The Digital Economy’s Growing Time Tax
Digital technologies herald labor-saving breakthroughs. But in many cases they simply turn us into unpaid laborers.
Ending the Protectionist Scourge Would Benefit All
Protectionism these days is popular. It is also wrong. Free trade can remain a pathway to increased prosperity for all.
Is Private Credit Becoming the Public’s Problem?
Given the explosive growth of private credit over the past 15 years, it is understandable that regulators and central bankers are taking a
The Dangers of a US Capital Inflow Tax
This election season in the United States has brought forth many bad policy proposals.
Inflation: The Making of a Good Story
Inflation is perhaps the key topic of today’s political economy, but it is also one that is ripe for storytellers to manipulate.
A Plea for Political Economy
As markets, trade, politics, and international relations become increasingly interconnected, mainstream economics finds itself at an intellectual
Central Banks’ New-Old Inflationary Bias
While rules-based monetary policy thrived when globalization put downward pressure on inflation, the COVID-19 pandemic has revived central