Addressing climate change requires resiliency and sacrifice. Both are in short supply, suggesting that required changes will be delayed, imposing
What Europe’s Energy Crunch Reveals
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Back to Austerity?
The public purse is not unlimited. It is time for proponents of government programs to focus on what is essential to achieve before the next
Hawks, Doves, and Crows
In a world characterized by rapid and significant change, central banks need less focus on hawks and doves, and more on crows.
Why Are Supply Chains Blocked?
When forecasts are not specific enough to be actionable, the supply response cannot adjust in a timely or efficient manner. And because there
The Path to Climate Credibility
As the world convenes to address climate change, it may take sticks as well as carrots to meet emissions targets. Tariffs on laggard nations
Clean Energy Has Won the Economic Race
Even as major oil companies report record profits, the tide is turning against them and fossil fuels. The future belongs to renewables.
When Boom Turns to Bust
Parents shouldn’t spend their children’s money. But when it comes to healthcare and pensions, intergenerational injustice is enormous.
Colin Powell and the Meaning of Charisma
Colin Powell was not perfect, but he was a great leader. And like all great leaders, he had genuine charisma.
The True Costs of Government Spending
While all politicians exaggerate, US President Joe Biden’s claim that his proposed $3.5 trillion spending package “costs zero dollars”
France, Britain and an Acrimonious Divorce
The spat between France and Britain over Northern Ireland is a tricky one. Its roots run deep in the EU experiment.
Changing of the Guard
The world is adrift, yet investors are unconcerned. That’s collectively unwise.
China Must Restore Growth
Evergrande has exposed China’s fundamental growth vulnerability—an excessive reliance on debt. Structural reform is required now more
Ending Hunger Sustainably
Ending hunger, malnutrition and food insecurity is not at odds with custody of the planet. Data, technology and public-private partnership
Trick or Treat
Markets are enjoying a treat of strong profits growth. Beware the trick of supply chain disruptions that are boosting costs, impeding output
A New Global Economic Consensus
Now that the COVID-19 pandemic has highlighted the deficiencies of economic deregulation and market liberalization, a new policymaking paradigm
The Bitcoin Fountainhead
Bitcoin is a libertarian gimmick. Much needed restoration of faith in public finance and fiat money remains the best way to achieve financial
The Hinge of History
Is there intelligent life elsewhere in the universe? Perhaps. But as a species, we must do our utmost to ensure our survival. Ridding poverty
How Patient Are Investors?
As the third quarter earnings season kicks off, all eyes will be on cost pressures. Margin compression is a concern, but the biggest questions
Dancing with the Debt Ceiling
Even in 2013, a year of partisan rancor, Democrats and Republicans agreed to suspend the US federal government’s debt ceiling just a week
China’s Risky Business Crackdown
Chinese President Xi Jinping’s effort to control China’s private sector is agreeable in its stated intentions, but questionable in its
Filtering Out the Noise
Markets have become more volatile. That’s unsurprising, given high valuations, moderating growth and peak earnings. But volatility is also
Supporting Afghan Refugees Over the Long Term
The bi-partisan support in the United States for welcoming Afghan refugees is heartening. But how long will it last?
Germany’s New Beginning
German voters have voted for a fresh start to confront the challenges of the twenty-first century.
Preventing an Evergrande Confidence Crisis in China
A looming default by the Chinese property developer Evergrande has sent shock waves through global capital markets. The Chinese government