By promoting behavioral norms that balance market and society, “stakeholder capitalism” is supposed to enable private firms to
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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
The Robot Question
Although robots that can perform human labor will put downward pressure on wages in the short term, they also will increase the rate of profit,
Should Governments Spend Away?
With sovereign-bond markets still showing little concern for the massive levels of borrowing and spending across advanced economies, it is
How to Close America’s COVID-19 Testing Deficit
The US is facing a major health and economic catastrophe for one simple reason: its existing COVID-19 testing infrastructure has broken down.
The Challenges of the Post-Pandemic Agenda
The pandemic has highlighted the vulnerability of human societies and fortified support for urgent climate action. But while the small government,
Mask Wars
The pandemic and the protests of recent months should serve as a reminder of a simple truth: a mask is always just a mask. What matters for
China Has Blown Its Historic Opportunity
In the wake of the COVID-19 pandemic, China could have become the development bank, central bank, and medical supplier to the world. By choosing
America’s Compromised State
The lack of a coordinated national response to the COVID-19 pandemic in the United States has predictably resulted in an unmitigated economic
The Fastest Way Out of the Pandemic
During the 2009 swine flu pandemic, a few countries cornered the vaccine market, leaving the vast majority of the global population with no
Saving Generation COVID
During the COVID-19 crisis, lockdowns and other social-distancing rules have forced schools worldwide to shut their doors, locking out a peak
Training for the Pandemic Economy
The transition to the world being created by COVID-19 was always going to be difficult for workers in the worst-affected sectors. The main
A 100-day Agenda to Reunite America
After four years of a president who has deliberately tried to divide Americans, the United States can and must find common purpose to address
The Pandemic Must End Our Complacency
With an economic downturn as severe as the Great Depression and political conditions similar to those in the run-up to World War I, an international
American Exceptionalism in the Age of Trump
As the world’s two largest economies, the United States and China are condemned to a relationship that must combine competition and cooperation.
The Future of Global Power
Although the Sino-American rivalry was escalating long before the COVID-19 crisis erupted, it has since been thrown into overdrive. But while
The Deadly Urgency of Now
The consequences of lapses in international cooperation in combating COVID-19 over the last few months can now be counted in lost lives. Having