Liberalism, far more than democracy, is at stake in this year’s elections. What America and the world need are voices that can rejuvenate
Central bank independence is considered essential for the effective conduct of monetary policy. But has that independence been compromised
Inequality has become more pronounced in recent decades. It is a function of a dysfunctional economy. Recognition is the first step toward
The post-1945 international order is not perfect, not least because it remains dominated by its leaders and architects: Europe and, especially,
While the sovereign-debt crisis that is currently unfolding across the developing world may not have the immediate global impact of the 2008-09
We must not allow the ongoing war in Ukraine and the fighting in Gaza to distract us from collective efforts to reduce our greenhouse-gas
In 2024, we have three hopes for a better world.
The latest consumer price data in major advanced economies offer some encouraging news about headline inflation trends; but core inflation
Absent recurring aggregate supply and demand shocks, or a global private sector investment boom, lower interest rates are here to stay.
Contrary to what leading tech companies claim, it is entirely possible to ensure that generative AI models respect copyright and compensate
The long-standing economic consensus that interest rates would remain low indefinitely, making debt cost-free, is no longer tenable. Even
Medicare is a program so good that it is worth improving. But powerful vested interests stand in the way of a system that could provide better
Big government deficits and rising debt-to-GDP ratios are triggering calls for fiscal austerity. But many fiscal hawks ignore the role that
Kissinger left a complex legacy, highlighted by strategic brilliance and tarnished by deep flaws. In his life’s work and actions reside
Industrial policy is being resurrected worldwide, despite a mixed legacy. Yet the prevalence of market failure suggests that improving economic
A two-state solution must be bold, creative and inclusive. That does not make it impossible.
Finding a two-state, economically viable solution amid the ‘archipelago’ that is Palestinian territory will be a major challenge.
Later this week, US families join together for Thanksgiving. Many will return to loved ones with heavy hearts, burdened by the unending news
Supporters of populist parties often resent experts who believe their specialized knowledge entitles them to make major policy decisions.
More than two years after economists divided into opposing camps over the nature of the post-pandemic inflation, we now know which side was
Leading economists’ misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures, from not foreseeing
Complexity is common. The better we understand its sources, the better we can address its challenges.
Europe may need to follow the US and China in the deployment of an industrial strategy. It has the tools to do so.
As inflation recedes bond yields are apt to fall.