High inflation demands supply side solutions. The labor force needs to be made more attractive to workers.
Fight Inflation with Supply-Side Labor Reform
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How to Use Economic Sanctions Wisely
Given the horrors of Russia’s invasion of Ukraine, the public’s support for sanctions has been strong. But, before tightening
China’s Time for Global Leadership
In the past 40 years, no country has benefited more from globalization than China. Now, as Russian President Vladimir Putin’s appalling
These Russia Sanctions Are Different
The multilateral sanctions imposed on Russia since the invasion of Ukraine will severely reduce Russians’ standard of living and their
NATO Must Get MAD at Russia
Russia has shown that it is ready to murder innocent Ukrainians, but it is not ready to commit suicide. And that holds the key to preventing
The Anatomy of the Net-Zero Transition
Reaching net-zero emissions by 2050 – and thus limiting the rise in global temperatures to 1.5°C above pre-industrial levels – implies
Can Sanctions on Russia Work Without China?
As the conflict in Ukraine escalates, the growing calls to tighten the economic blockade against Russia are perhaps understandable. But China
Vladimir Putin and the Risk of World War III
After receiving a green light from Chinese President Xi Jinping, Russian President Vladimir Putin launched his war in Ukraine in an effort
The Global Struggle for Democracy Is in Ukraine
Russia’s military assault on Ukraine caps a period of political attacks on democracy around the world. One must therefore hope that the
Stop Financing Putin’s War
Every day, the European Union, the United Kingdom, and the United States send Russia an average of $500 million for oil and gas. But there
Russia’s Stolen Future
By invading Ukraine, Russian President Vladimir Putin is challenging not only that country’s independence but also the broader European
The Trust-but-Verify Path to Net Zero
Comparisons between today’s China-US tensions and the Cold War are often superficial and misleading. But reviving the maxim that underpinned
Biden’s Misery Index
Historically, the Misery Index – the sum of the unemployment and inflation rates – has offered a sound benchmark for assessing an incumbent
America’s Not-So-Great Inflation
The acceleration of US inflation in recent months has led many alarmed observers to point to parallels with the 1970s, when commodity prices
Realism About Foreign-Policy Realism
In a world of sovereign states, foreign-policy decisions naturally should account for national interests and the broader balance of power.
Banks and the Green Leap Forward
By imposing stricter capital requirements on fossil-fuel lending, governments and banking regulators can help to redirect a huge flow of funds
The Fed’s Wary Embrace of Digital Dollars
It is not difficult to fathom why the United States’ central bank is especially resistant to any quantum change in the existing financial
The South China Sea’s Environmental Crisis
The environment is rarely served by great power politics. China’s territorial ambitions in the South China Sea are hastening the destruction
How China Views the Ukraine Crisis
China is watching the Ukraine crisis closely. It is a test of America’s resolve, and it could have important implications for geopolitical
A Whiff of Munich
With the United States and its NATO allies seeking further negotiations to prevent Russia from invading Ukraine, many have been quick to invoke
Why Did Almost Nobody See Inflation Coming?
Forecasting inflation is a staple of macroeconomic modeling, yet virtually all economists’ predictions for the United States in 2021 were
Regime Change in the Global Economy
Growth theory doesn’t make for pleasant reading these days. Indications point to challenges ahead.
A Bad Year for Markets?
Market fundamentals are shifting from tailwinds to headwinds. Investors ought to prepare for more volatile conditions.
The Power and Poison of MMT
Modern Monetary Theory (MMT) is misunderstood by its defenders and detractors. Elements of it can be useful, others are dangerous.