While the pound’s recent declines may evoke memories of the 1992 “Black Wednesday” crisis, sterling’s weakness does not
Is the Pound Close to the Breaking Point?
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Theme of the Week
Requiem for an Empire
Since World War II, Britain’s influence in the world has relied on its “special relationship” with the United States, its position as
Whither the ESG Revolution?
Many companies are promising to align their objectives – including how they measure their performance – with broader imperatives relating
How Much Has the Ukraine War Changed Germany?
Germany faces no shortage of crises, from the Russian security threat and political instability among Western allies to democratic backsliding
American CHIPS Off the Chinese Block
America’s world-leading semiconductor industry is a testament to the advantages a competitive market economy has over a command economy
Blame the Economists
Science has long recognized the dynamics of climate change. To our detriment, economics has been slower to adapt.
From Great Moderation to Great Stagflation
For decades, relative global stability, sound economic-policy management, and the steady expansion of trade to and from emerging markets combined
The ECB’s Political Overreach
The ECB risks exceeding its mandate, with potentially grave consequences.
Rate Hikes Alone Won’t Curb Inflation
Because America’s sky-high inflation rate is driven heavily by supply-side shortages, it will not be brought down by demand-suppressing
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
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
America’s Birthday
Democracy is not an outcome, but an ambition that requires we seek out our common values rather than fight for rights.
Integrity
As the January 6th hearings unfold, it is a good time to consider the ideal of integrity.
The Blame Game
Today’s inflation is not a monetary phenomenon. Tighter monetary policies cannot address what ails the world economy.
Musk and the ESG Knife Fight
Tesla has been kicked out of the S&P ESG Index and Elon Musk claims ESG is a scam. Is he right?
Will US Inflation Lead to Recession?
Sadly, principled statesmen and women who can forge bold, morally consistent responses to today’s global problems are in short supply.
Kofi Annan’s Lessons in Global Leadership
Sadly, principled statesmen and women who can forge bold, morally consistent responses to today’s global problems are in short supply.
Beware a Global Economy with Little Fires Everywhere
Rich countries have shown impressive unity in helping Ukraine counter the Russian invasion. They now need to demonstrate the same level of
Europe’s Gas Conundrum
If Europe is willing to pay the price of expensive LNG imports, it could severely undermine Russia’s ability to earn hard currency via gas
The Growing Threat of Global Recession
With luck, the risk of a synchronized global downturn will recede by late 2022. But for the moment, the odds of recession in Europe, the United
The Growth Engines Are Sputtering
The International Monetary Fund’s significant downward revision to its 2022 World Economic Outlook, just one quarter into the calendar year,
The Ant and the Grasshopper
President Biden’s recent large-scale use of the Strategic Petroleum Reserve is being driven by politics, not economics.
South Africa’s Time to Choose
What explains South Africa’s clearly sympathetic stance towards Russia?