US public pension schemes are increasingly facing funding gaps that will be difficult to close in today’s capital market environment.
Saving America’s Public Pensions
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Doubt is Good
Believing erroneously in certainty is perilous — investors should be wary of certainty’s close cousin, consensus thinking.
An Infrastructure Inoculation for America’s Recovery
In weighing the options for additional stimulus, President-elect Joe Biden’s $2 trillion infrastructure investment plan has much to recommend
Making Sense of the Nonsensical
The past week was marked by shocking images of violent protestors occupying the US Capitol, yet the horror barely registered in financial
Race and Government Aid
The pandemic has been a human disaster on many levels, much of which was initially beyond our control. But when it comes to how government
Five Cheers for 2021
After a year of death, despair, and deep uncertainty, there are glimmers of light on the horizon. Not only is responsible leadership returning
What Is Driving Asia’s Technological Rise?
Asia’s rapid emergence as a global technological leader over the last decade is a testament to the power of collaboration. And yet, in much
Investing in 2021: Willful Ignorance or Calculated Risk?
2020 has been a year of calculated risk. But periods of strong returns often spawn complacency and excessive confidence.
The Health of Nations
It is time to recognize that our material and physical well-being are inseparable and that we need to aspire to a health and wealth of all
Bartering Value
Much of the debate about the relationship between capitalism and democracy, economics and ethics, individual and community overlooks a very
How to Make Climate Pledges Stick
Following US President-elect Joe Biden’s victory and recent carbon-neutrality pledges from China, Japan, the European Union, and others,
Bull or Bear in 2021?
Though the COVID-19 pandemic continues to disrupt social and economic life around the world, it has yet to take the wind out of equity markets’
How and Why Social Media Should be Regulated
Regulating social media requires nuance and cannot be done in piecemeal fashion, or the unintended consequences will be worse than the problem.
Brexit Games
As the final weeks of 2020 wind down, investors should prepare themselves for the United Kingdom crashing out of the European Union in a hard
A Post-War Playbook for a Post-COVID Recovery
The pandemic’s impact on major economies has so far been four times worse than that of the 2008 global financial crisis, while entire sections
Eight Reasons to Worry About Inflation
It is time for investors to consider the possibility of rising inflation, which is now more probable than at any time in the past two decades.
A Tale of Two Economies
As financial markets celebrate the coming vaccine-led boom, the confluence of epidemiological and political aftershocks has pushed us back
The Siren Song of Austerity
Among the many lessons of the 2008 financial crisis and its aftermath in the United States is that there is no good reason to start worrying
America Must Mend Many Fences on Trade
The past four years of US protectionism and unilateralism will serve as a lasting reminder of how not to conduct trade policy in the twenty-first
A No-Brainer for the G20
The sooner we get the COVID-19 pandemic under control, the sooner we can put the global economy back on track. At a virtual gathering this
Why Biden Can Overcome Political Gridlock
According to conventional wisdom, US President-elect Biden will find himself immediately paralyzed because Republicans will follow the same
European Strategic Complacency Is Not an Option
It is now more clear than ever that Europe must take its security, broadly understood, into its own hands. Doing so will not only secure the
Is it Time for a Full-Fledged Rotation?
Rotation in markets is the next big opportunity. Value has a lot of room to make up for a decade of underperformance. But sometimes it pays
When History Finally Makes Sense
Joe Biden, the President-Elect of the United States of America, is just a man. And yet, in the deep wisdom found in democracy, he may be exactly