The US never built back Afghanistan better. The exit was doomed from the beginning.
Why Nation-Building Failed in Afghanistan
Continue Reading
Featured
The Dog Days of Summer
The dog days of summer are here. But when the ‘big dog’–aka the Fed–arrives, the heat may shift to the markets.
Why Teach History?
If we only share what is noble and good from the past, we can be sure that our understandings will be simplistic, inaccurate and leave us
Time for the Fed to Act
The Fed cannot indefinitely deny links between money and inflation. The time to change course has arrived.
When Politics and Economics Clash
China’s leadership is asserting itself. When politics and economics clash, politics often wins—to the detriment of economics and investing.
Whiplash
Beneath the calm exterior of markets, rotation and counter-rotation are befuddling asset managers. That’s not likely to change.
Continuity or Change?
As Angela Merkel leaves office, Europe faces change. Or perhaps not. Either way, difficult decisions await.
Blame Game
Central banks are not infallible. But they are not chiefly responsible for rising inequality.
Are Economists in Love with Tough Love?
Vigorous economic competition certainly has a place in today’s world. But economists may currently be overly reliant on this default approach,
Time to Relax Global Travel Restrictions
Given the unprecedented nature of the COVID-19 pandemic and its effects on labor markets, there is a spirited debate over whether the US economy
Fault Lines
The tremors of pandemic, climate change and populism betray the existence of deep fault lines in capitalism’s coexistence with democracy
Is the US Economy Running Out of Slack?
Given the unprecedented nature of the COVID-19 pandemic and its effects on labor markets, there is a spirited debate over whether the US economy
Pitchforks into Plowshares
Pitchforks are the symbol of popular unrest. Plowshares the biblical allusion to peace and prosperity. Technology companies would be wise
Dismal Economics
Although neoclassical economics relies on assumptions that should have been discarded long ago, it remains the mainstream orthodoxy. Three
The Biodiversity Challenge
Population growth and economic expansion are on a trajectory to overwhelm nature, leading to biodiversity collapse.
The Dangers of Decoupling
With Sino-American relations increasingly coming to resemble the geopolitical dynamics of the original Cold War, the world is heading toward
The Antitrust War’s Opening Salvo
With a major new executive order calling for stronger enforcement of antitrust laws, Joe Biden has become the first president since Harry
Are Central Bankers Complacent?
When a former central banker suggests today’s central bankers may be complacent about inflation, that’s news.
Peak Earnings, Peak Markets
Investors are unimpressed with Q2 earnings. Is the arrival of peak earnings a sign of peak markets? We doubt it.
Tackling Climate Change Together
Successfully mitigating climate change this century will take a joined up effort by all countries—rich, middle income and poor.
Are US Corporations Above the Law?
By siding with major food corporations over six Malian former child slaves who were seeking compensation under US tort laws, the US Supreme
The Global Dangers of Rising US Inflation
At-risk economies may have six months or so to implement self-help measures before any sudden US monetary-policy tightening happens.
The Calculus of Today’s Markets
Global markets are struggling to find direction and the reason resides in the calculus of markets, namely a divergence between first and second
The Pandemic Opportunity
With so much of “normal” social and economic life put on hold by the coronavirus pandemic, there is no better time to consider new approaches