The pandemic’s impact on major economies has so far been four times worse than that of the 2008 global financial crisis, while entire sections
A Post-War Playbook for a Post-COVID Recovery
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The Financial Sector’s Gain Must Not Be Biodiversity’s Loss
When it comes to biodiversity and natural capital more broadly, most investors still behave as if these assets were unlimited and the services
The US Economy Needs a Booster Shot
Heading into the holiday season, the United States is confronting a spike in COVID-19 infections and renewed restrictions on commerce. Unless
Making Sense of Sky-High Stock Prices
Many have been puzzled that the world’s stock markets haven’t collapsed in the face of the COVID-19 pandemic and the economic downturn
A Tale of Two Economies
As financial markets celebrate the coming vaccine-led boom, the confluence of epidemiological and political aftershocks has pushed us back
The Siren Song of Austerity
Among the many lessons of the 2008 financial crisis and its aftermath in the United States is that there is no good reason to start worrying
A No-Brainer for the G20
The sooner we get the COVID-19 pandemic under control, the sooner we can put the global economy back on track. At a virtual gathering this
Why Biden Can Overcome Political Gridlock
According to conventional wisdom, US President-elect Biden will find himself immediately paralyzed because Republicans will follow the same
European Strategic Complacency Is Not an Option
It is now more clear than ever that Europe must take its security, broadly understood, into its own hands. Doing so will not only secure the
Why Trump Cries Electoral Fraud
Research suggests that US President Donald Trump’s claims of fraud in the 2020 election could be a psychological strategy, deftly executed
Who Will Win the US Presidential Election?
If the latest polls are any indication, Joe Biden is on track to win the popular vote in the upcoming US presidential election by a substantial
Can Humanity Grow Up?
With rapid globalization and technological innovation have come profound new risks not just to individuals and countries, but to humanity’s
Recovery and Renewal at the UN
Rising nationalism raises a significant risk that the UN system’s structure and institutions, essential but in need of repair and rejuvenation,
Listen to the Science
The announcement of this year’s Nobel Prize laureates is an ideal occasion to appreciate how much we owe to basic science, and how scientists
The Time Bomb at the Top of the World
People all over the world are already losing their homes and livelihoods to deadly fires, floods, storms, and other disasters. With scientists
The Public’s Business
By promoting behavioral norms that balance market and society, “stakeholder capitalism” is supposed to enable private firms to
The Stock-Market Disconnect
The best explanation for why stock markets remain so bullish despite a massive recession is that major publicly traded companies have not
Herd Immunity Will Not Defeat COVID-19
Although White House officials deny that US President Donald Trump’s administration has adopted herd immunity as a strategy for combating
The Meaning of 200,000 COVID-19 Deaths
Americans’ desensitization to the pandemic’s skyrocketing death toll vindicates Joseph Stalin’s famous observation: “One death is
The Economic Case for Biden
US President Donald Trump has seeded the investment environment with uncertainty, trashed America’s trade relationships, blown up the
Reopening the Peace Factory
Some regard the United Nations as one of the greatest achievements of the so-called liberal international order that was conceived at the
The Coming Global Technology Fracture
Today’s international trade regime was not designed for a world of data, software, and artificial intelligence. Already under severe
Winners and Losers of the Pandemic Economy
While it is true that bullish equity markets are out of step with the historic contraction in the real economy, to say that they are disconnected
Poverty as Injustice
Across Western advanced economies, a widespread sense of malaise has given rise to a debate about what the state can and should do to ensure