Is the Federal Reserve making the same mistake again? Stephen Roach thinks the Fed may be overlooking inflation risk just as it did in the
The Ghost of Arthur Burns
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Mapping the Path to Carbon Neutrality
As countries around the world consider whether and how to raise their decarbonization ambitions under the Paris climate agreement, South Korea
How Not to Launch a Digital Currency
The story of Facebook’s failed effort to launch a global digital currency and payment system is reminiscent of the historic struggle
How to Vaccinate Every Country
The current approach to COVID-19 vaccination – using limited vaccine supplies to protect low-risk populations in a handful of countries
Will Corporate Greed Prolong the Pandemic?
The shortfall in global COVID-19 vaccine production could be closed if manufacturers around the world were granted access to the necessary
Coming to Terms
When it comes to peace, military supremacy, hatred and subjugation can not substitute for mutual recognition, trust and a willingness to compromise.
Beware Economists Bearing Policy Paradigms
US President Joe Biden’s administration has embarked on a bold and long-overdue departure from the economic policy orthodoxy that has
Helping the Other 66%
Addressing within-country inequality may be the political imperative of the moment. But tackling vastly greater cross-country disparities
The Green Art of the Possible
Europe’s experience suggests that decarbonizing the power sector first, while sheltering industry from higher costs, can generate some modest
Morals and the Vaccine Market
The glaring global inequity in access to COVID-19 vaccines is both an intellectual and moral failure. The pandemic is a clarion call to start
President Biden, Support a People’s Vaccine
Over the past year, the world witnessed unprecedentedly rapid development of safe and effective COVID-19 vaccines, largely owing to US public
The Challenge of Big Tech Finance
In an old parable about banks and regulators, the banks are greyhounds – they run very fast – while the regulators are bloodhounds, slow
Ensuring a Stronger and Fairer Global Recovery
Although tough trade-offs are sometimes unavoidable, there is a way for policymakers to maintain a robust global economic recovery in 2021
Climate Safety Nets for All
The droughts, floods, and severe weather that come with climate change will leave the world’s poorest and most vulnerable even worse
All Eyes on Digital Payments
Digital payment is a promising technology that can facilitate more flexible transactions with added security. But existing platforms embed
China’s Go-It-Alone Five-Year Plan
Autarky and authoritarianism rarely accompany economic dynamism. China’s latest fie year plan, which emphasizes both, could be a road to
Resolving the Iran Conundrum
US Secretary of State Antony Blinken believes that Iran is only months away from being able to produce enough fissile material to build a
Why Should Biden Ditch Trump’s China Tariffs?
When it comes to tariffs, self-interest and mutual interest are aligned. By reversing Trump tariff’s, everyone will be better off.
Who Needs a Digital Dollar?
Recently, the idea of a digital greenback elicited support from US Treasury Secretary Janet Yellen and Federal Reserve Chair Jay Powell. Ultimately,
The US Military and the Capitol Mob
The disproportionate share of insurrectionists at the US Capitol with a military background are not representative of the armed forces as
Build Back Equal
Creating an economy that works for everyone is not just a matter of empowering those who have been “left behind” by globalization. Instead,
Evolution, Not Revolution, in Economics
A growing acceptance of aggressive fiscal policy is supposed to be the first principle of a new, post-revolutionary regime in macroeconomics.
What Could Cause a US-China War?
Thucydides attributed the war that ripped apart the ancient Greek world to two causes: the rise of Athenian power, and the fear that this
A Realist Reset for US-Saudi Relations
President Joe Biden’s administration appears determined to separate America’s relationship with the Kingdom from the relationship