President Biden’s recent large-scale use of the Strategic Petroleum Reserve is being driven by politics, not economics.
The Ant and the Grasshopper
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Economics
Storm Clouds Over the Global Economy
Following Russia’s invasion of Ukraine and a resurgence of inflation around the world, the prospects for a robust global recovery from the
How to Sanction a Nuclear Foe
Sanctions are an important and powerful weapon, and they are putting some pressure on the Kremlin. But unless the West employs them judiciously,
The Dollar’s Reserves of Strength
The US-China trade war and the recent freezing of much of Russia’s official foreign-exchange reserves have again raised fears of an exodus
The End of the “Global Savings Glut”?
Regardless of whether America’s persistent current-account deficits really can be explained primarily by the accumulation of excess
South Africa’s Time to Choose
What explains South Africa’s clearly sympathetic stance towards Russia?
Can the World Afford Russia-Style Sanctions on China?
Many academic studies suggest that sanctions on China or a break in Sino-American economic ties probably would have a smaller quantitative
Russia Is Finished as a Major Energy Power
In the wake of Vladimir Putin’s invasion of Ukraine, no European in their right mind wants Russia to have the free cash flow that its
Madeleine Albright’s Potent Legacy for Women
Madeline Albright made it her life’s work to fight for women.
Fight Inflation with Supply-Side Labor Reform
High inflation demands supply side solutions. The labor force needs to be made more attractive to workers.
How to Use Economic Sanctions Wisely
Given the horrors of Russia’s invasion of Ukraine, the public’s support for sanctions has been strong. But, before tightening
The Anatomy of the Net-Zero Transition
Reaching net-zero emissions by 2050 – and thus limiting the rise in global temperatures to 1.5°C above pre-industrial levels – implies
Can Sanctions on Russia Work Without China?
As the conflict in Ukraine escalates, the growing calls to tighten the economic blockade against Russia are perhaps understandable. But China
Vladimir Putin and the Risk of World War III
After receiving a green light from Chinese President Xi Jinping, Russian President Vladimir Putin launched his war in Ukraine in an effort
The Global Struggle for Democracy Is in Ukraine
Russia’s military assault on Ukraine caps a period of political attacks on democracy around the world. One must therefore hope that the
Windows into Putin’s Soul
Look upon these works, ye mighty, and despair.
Stop Financing Putin’s War
Every day, the European Union, the United Kingdom, and the United States send Russia an average of $500 million for oil and gas. But there
Russia – How Did it Come to This?
What could possibly salvage the wreckage that remains of Russia’s botched transition from communism to a pluralist market economy?
Ukraine: Implications for Investors
The invasion of Ukraine has near and long-term consequences for investors. It is not as simple as ‘buy the dip’.
No, Prices Won’t Stabilize in 2022
Inflation is a monetary phenomenon. Get used to it. It won’t fade away anytime soon.
Russia’s Stolen Future
By invading Ukraine, Russian President Vladimir Putin is challenging not only that country’s independence but also the broader European
The False Narrative of Elitism
In our love and hate of elites exists the false belief that some group is at fault for whatever ails us collectively.
The Trust-but-Verify Path to Net Zero
Comparisons between today’s China-US tensions and the Cold War are often superficial and misleading. But reviving the maxim that underpinned
Biden’s Misery Index
Historically, the Misery Index – the sum of the unemployment and inflation rates – has offered a sound benchmark for assessing an incumbent