Because America’s sky-high inflation rate is driven heavily by supply-side shortages, it will not be brought down by demand-suppressing
Rate Hikes Alone Won’t Curb Inflation
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Politics
America’s Dangerous Descent into Violence
The increasingly frequent and alarming incidence of violence in America is no accident. As the history of fascist movements shows, the rise
Is the US in Recession?
Do not be surprised if, later this month, there is a wave of headlines claiming that the US economy is in recession. But such an assessment
What Saudi Arabia Wants
Today’s energy crisis could prove to be worse that those of the 1970s. Policy must respond.
The Case for Strategic Reserves
The end of globalization means nations must have a backup plan when trade is disrupted. It is time to build national reserves of foodstuffs,
Private Equity’s ESG Generation
The private-equity industry is about to undergo an epochal shift, as the founders of many leading firms retire and a younger generation with
Boris Johnson Leaves Behind a Sterling Mess
Investors appear to view the British pound more like the currency of a troubled emerging market than of a stable advanced economy. And now,
How Abe Changed Japan
Former Prime Minister Abe Shinzō’s assassination understandably comes as a shock, given that Japan has not experienced political violence
America’s Birthday
Democracy is not an outcome, but an ambition that requires we seek out our common values rather than fight for rights.
All That Is Solid Melts into Inflation
Policymakers in Western industrialized countries would do well to remember that periods of high inflation historically have led to much bigger
The Supply-Side Fight Against Inflation
Central banks’ only real option for tackling inflation is to reduce demand – an approach that implies a significant drag on global growth.
Is Crypto in Terminal Decline?
Opinion is divided as to whether the current massive downturn in private digital currencies and related services represents a necessary and
A Bond Phoenix Rises from the Ashes
Bonds are out of favor. But perhaps not for long.
Integrity
As the January 6th hearings unfold, it is a good time to consider the ideal of integrity.
Inflation as a Political Power Play Gone Wrong
A half-century long strategy, led by corporations, Wall Street, governments, and central banks, is coming undone. As a result, the West’s
Fact-Checking the Deglobalization Narrative
Globalization is not dead. But it is evolving. And it can still be shaped for the betterment of all.
Climate-Impact Disclosure Is Common Sense
The momentum behind mandatory climate-risk disclosure is building globally. By acting now on its own proposed rule change, the US Securities
Why the US Federal Reserve’s Options Are Limited
The US Federal Reserve’s Federal Open Market Committee ought to announce a rate increase that is large enough to bring its policy rate
The Virus Is Still Winning
Despite the rapid development of COVID-19 vaccines and treatments to reduce mortality, the elderly, the immunocompromised, and other vulnerable
The Supply Solution to Stagflation
According to the World Bank’s latest forecast, global growth is projected to slow by 2.7 percentage points between 2021 and 2024 – more
Economic Consequences of a Ukraine Peace
The demand that Russia pay reparations for its unprovoked war in Ukraine is morally compelling. But Russia would be less likely to reconcile
Surviving a Future of Extreme Heat
Unprecedented extreme-heat episodes like the heatwave in India and Pakistan this spring and the 2021 heat dome in the Pacific Northwest are
The Blame Game
Today’s inflation is not a monetary phenomenon. Tighter monetary policies cannot address what ails the world economy.
Don’t Bet on a Soft Landing
With “Team Persistent” having clearly prevailed over “Team Transitory” in the debate over the nature of today’s surging inflation,