While all politicians exaggerate, US President Joe Biden’s claim that his proposed $3.5 trillion spending package “costs zero dollars”
The True Costs of Government Spending
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Politics
India: Steadfastly Non-Aligned
Under Nehru India was famously non-aligned. Under Modi it remains so. But India is now prepared to use shifting alliances to pursue its strategic
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?
Emerging Debt: Time to Restructure
Covid-19 did not derail the global economy, but the hard part could well be just the beginning.
Soft Solutions to Hard Problems
Overcoming Islamic extremism will continue to test the West. But it can be done. The remedy requires equal parts hard and soft power.
The Economic Consequences of the Peace
Euphoria can blind us to what follows. Keynes presciently made that point a century ago. His insight is worthy of consideration today as bullish
The US and China Are Not Destined for War
As more commentators warn of a coming military conflict between the United States and China, it is easy to believe that war is inevitable.
Guns and Taxes
In America, guns and taxes are unavoidable. If we are to address the true cost of guns, it is time to tax them.
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.
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
Germany’s New Beginning
German voters have voted for a fresh start to confront the challenges of the twenty-first century.
The Right War for the US and China
Either everyone wins the fight against climate change, or no one does. So, while the world’s great powers – especially the United States
Post-Pandemic Productivity
More than anything, the world needs faster productivity growth. It might just be happening.
The Stagflation Threat Is Real
There is a growing consensus that the US economy’s inflationary pressures and growth challenges are attributable largely to temporary supply
Biden’s Cruel Summer
Might Afghanistan derail President Biden’s domestic policy agenda? Foreign policy setbacks sometimes do—and sometimes don’t. Much depends
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
China Must Restore Growth
Evergrande has exposed China’s fundamental growth vulnerability—an excessive reliance on debt. Structural reform is required now more
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
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
Taming the Stagflationary Winds
Rising inflation and declining growth are more likely to be a part of the global economy’s upcoming journey than features of its destination.
Tailor-Made Economic Remedies
Rich countries can experiment with unorthodox policies. The latitude for developing countries is much smaller. Copycat economic policies could
Mind the Mind Gap
Technological innovation alone does not boost productivity. Only when technology is widely adopted does it lift living standards. That’s
COVID and the Conservative Economic Crack-up
Free-market advocates have been unable to stem the erosion of intellectual and public confidence in their arguments. Two prominent economists,
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.