Over time, finance has evolved from playing a crucial but merely intermediary role in the economy, to becoming the driving force behind most
How Finance Became the Problem
Continue Reading
Featured
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
The Global Economy’s Real Enemy is Geopolitics, Not Protectionism
What some decry as protectionism and mercantilism is really a rebalancing toward addressing important national issues. The biggest risk to
A New Financing Pact for Climate-Vulnerable Countries
The world’s most vulnerable countries bear the brunt of a climate crisis they did not create, underscoring the urgent need for a “fit
Labor Day and the Resurgent American Worker
Labor Day 2023 is a good time to reflect on the growing power of the American worker and the political and economic implications.
This Cold War Is Different
Contrary to how it may appear to many, not least in the US, the new cold war seems to be based not on the old logic of polarization, but on
China Must Avoid a Debt-Deflation Spiral
With high debt levels and falling consumer and producer prices, China faces the prospect of a vicious cycle whereby lower demand leads to
Is America Reverting to Isolationism?
Following the first Republican debate of the US presidential primary season, there is good reason to worry about what a Republican victory
Imagining a Keynesian Revival
Arguments between free market orthodoxy and intervention obscure the need for powerful economic leadership.
Is Japan-style Deflation Coming to China?
China’s economy suffers from excesses in real estate, slowing GDP growth and deflation. Those trends will be difficult to reverse. China’s
Why Is US Inflation Falling?
“Economists are much maligned for the bad forecasts. That criticism doesn’t hold up when it comes to falling US inflation.” However
The Populist Advantage
“Disenchantment with free markets, liberalization and globalization has opened the door to populist, simplistic ’solutions’. They
Why Debt is Too Often Misunderstood
Understanding how private, public, and foreign debt are interrelated yields important insights into the workings of the economy. It also leads