Central banks are not infallible. But they are not chiefly responsible for rising inequality.
Blame Game
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Are Economists in Love with Tough Love?
Vigorous economic competition certainly has a place in today’s world. But economists may currently be overly reliant on this default approach,
Time to Relax Global Travel Restrictions
Given the unprecedented nature of the COVID-19 pandemic and its effects on labor markets, there is a spirited debate over whether the US economy
Is the US Economy Running Out of Slack?
Given the unprecedented nature of the COVID-19 pandemic and its effects on labor markets, there is a spirited debate over whether the US economy
A Central Bank Cryptocurrency to Democratize Money
Since 2008 – and more so during the pandemic – central bank money has been showered, via private bankers, on the ultra-rich, while everyone
Dismal Economics
Although neoclassical economics relies on assumptions that should have been discarded long ago, it remains the mainstream orthodoxy. Three
The Dangers of Decoupling
With Sino-American relations increasingly coming to resemble the geopolitical dynamics of the original Cold War, the world is heading toward
The Antitrust War’s Opening Salvo
With a major new executive order calling for stronger enforcement of antitrust laws, Joe Biden has become the first president since Harry
Are Central Bankers Complacent?
When a former central banker suggests today’s central bankers may be complacent about inflation, that’s news.
Tackling Climate Change Together
Successfully mitigating climate change this century will take a joined up effort by all countries—rich, middle income and poor.
Are US Corporations Above the Law?
By siding with major food corporations over six Malian former child slaves who were seeking compensation under US tort laws, the US Supreme
The Global Dangers of Rising US Inflation
At-risk economies may have six months or so to implement self-help measures before any sudden US monetary-policy tightening happens.
The Pandemic Opportunity
With so much of “normal” social and economic life put on hold by the coronavirus pandemic, there is no better time to consider new approaches
The G20 Must Act Now to Vaccinate the World
It is imperative that the G20 finance ministers’ meeting in Venice this week act to provide the COVID-19 vaccines needed to achieve
Economics Needs a Climate Revolution
With its fixation on equilibrium thinking and an exclusive focus on market factors that can be precisely measured, the neoclassical orthodoxy
The Right Advice for the Pandemic Recovery
Once upon a time, macro-policy coordination was fashionable. As Koichi Hamada argues, the pandemic offers us a chance to reengage that thinking
Market Power Is Eating the Economy
While economic observers have long worried about the growing dominance of Big Tech, few have apprehended the sheer scale of the problem. Today’s
Is the Fed Getting Burned Again?
As in the stagflationary 1970s, the US Federal Reserve is once again denying that its own policies are the reason for a recent surge of inflation,
Taming the New Wild West
Traditionally, the US has favored a largely unstructured internet in order to promote the free flow of ideas and information. But US enthusiasm
Biden’s Antitrust Revolutionaries
A growing debate over the scope and purpose of US antitrust law has pitted traditional technocrats against an ascendant movement that is demanding
The Logic of Effective Climate Action
Americans must constantly and critically question the breezy, arrogant belief that the United States is a most perfect union of freedom, democracy,
America’s Flawed Search for Itself
Americans must constantly and critically question the breezy, arrogant belief that the United States is a most perfect union of freedom, democracy,
The Big Float
When the US effectively floated the US dollar in 1971, many foresaw the end, or at least the beginning of the end, of the Bretton Woods system
A Global Tax Deal for the Rich, Not the Poor
Despite the recent G7 agreement on corporate taxation, global leadership requires going beyond national interests to ensure that all countries