Governments are not like individuals or companies. They have far greater borrowing capacity. But limits exist. It is time to think about them.
Should Fiscal Policy Resemble Private Budgets?
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Does Anyone Care About Deficits?
In recent months, US bond yields have jumped. Surging government deficits are partly to blame. Will politicians respond?
Crime and Politics in 2024
A year from now Americans will be heading to the polls to select their next President, and crime will be one of the key issues.
War and Dollars
Between new wars, the return of nuclear brinkmanship, and threats to the US dollar, there is good reason to worry about the future of global
World of Warfare
The post-1945 Pax Americana appears more vulnerable than ever before, and its main rivals are eager to exploit its apparent weaknesses in
Data Dependent?
The Fed is a self-described ‘data dependent’ decision-maker. But that’s not all. Its aversion to inflation risk and its abiding reliance
What Can COP28 Achieve?
‘There are few mysteries left about how to mitigate climate change. The main challenge is whether the right policies can be put in place.’
China’s Great Leap Backward
‘President Xi prioritizes political control over growth. He is getting his way, for better or worse’.
The Middle East: Emotion, Reasoning and Hope
The massacres of innocent Israeli men, women, and children by Hamas were monstrous acts of pure evil. How are we to understand what has happened?
The Spiral of Violence that Led to Hamas
In the eyes of many outside observers, the cause of Palestinian autonomy and statehood has now been tainted by the gruesome murders and abductions
Pandemic Preparedness Cannot Wait
As multilateral institutions debate how to mitigate future disease outbreaks, we can take practical steps to improve upon the innovative mechanisms,
How Finance Became the Problem
Over time, finance has evolved from playing a crucial but merely intermediary role in the economy, to becoming the driving force behind most
The New Industrial Politics
Recent scholarship has done much to reopen the case in favor of selective government intervention to promote specific industries in particular
The Promise and Peril of Decarbonization
To achieve a just transition to renewables, the international community must enable emerging and developing economies to make the necessary
Are Stocks and Bonds Poised to Sell-Off?
In 2022, rising inflation triggered a simultaneous sell-off in stock and bond markets. Are we now poised for a repeat?
The Green Growth Mindset
Heated academic debates between proponents and opponents of traditional economic growth under capitalism might make for good television, but
A Chinese Bubble Long in the Making
Owing to the one-child policy and the legacies of other less-appreciated Chinese development measures over the years, the stage has long been
We Need to Talk About Bank Supervision
With the debate over bank capital requirements heating up again, all those involved should pause to reflect on the root causes of this year’s
The New World Disorder
The conspicuous absence of leaders such as Chinese President Xi Jinping and Indian Prime Minister Narendra Modi from the 78th session of the
Financing Our Survival
Between now and the end of this decade, climate-related investments need to increase by orders of magnitude to keep the world on track toward
Action on Planet and People Depends on Growth
Mobilizing the investment needed to complete the net-zero transition will require broad public backing and participation. Given that people
A Tragedy Is Unfolding in the Poorest Countries
The world’s 28 poorest countries are facing growing social, economic, and political distress, owing to rising debt burdens, diminishing
Nature-Positive Innovation
As climate change worsens, we must move beyond technological fixes that accelerate production and promote consumption. Indigenous practices
Who Can Trash China’s Economy Most?
Is China’s economy in real trouble, or is the pessimism unwarranted? The answer likely depends on whether Xi’s authoritarianism erodes