Having established a priority to address climate change in its policies and in relations with member states, the IMF must now put deed to
What a Climate-Aligned IMF Would Look Like
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The Boring Truth About AI
Artificial intelligence is more evolutionary than revolutionary. Its advance will be slower than many think.
The Right Response to China’s Electric-Vehicle Subsidies
Subsides for domestic EV producers make for better policy than tariff’s on Chinese EV imports.
How Democracies Can Win the Tech Race
Winning the race for future technologies demands a united front. That is why the United States and the European Union must continue to shape
The Mystery of US Interest Rates
The near-consensus since the start of the pandemic has been that there are powerful fundamental factors keeping the neutral interest rate
Why Trump Can’t Win
Trump’s extremism risks depressing Republican turnout, which could undermine his re-election chances in November.
Putin’s Silk Road Around Sanctions
The overriding imperative for the West must be to make Russia’s war against Ukraine as costly as possible for Russians. Why, then, are
Explaining Americans’ Pessimism About a Strong Economy
At least six reasons have been advanced to explain the apparent disconnect between US economic indicators and public-opinion surveys. While
The Lonesome Death of Alexei Navalny
Navalny’s only ‘crime’ was opposing Vladimir Putin, for which he paid with his life.
Will Ukraine Survive?
What Ukraine and its Western backers have accomplished in the wake of Russia’s February 2022 invasion is extraordinary. But with congressional
The Next Inflationary Surge
Negative supply shocks are likely to become more frequent, leading to greater inflation volatility. But monetary policy cannot address adverse
FTX Was Never Really Bankrupt
The prosecution in Sam Bankman-Fried’s criminal trial drilled into the jurors’ heads that FTX customer losses exceeded $8 billion, but
Protecting Ukraine Aid from Western Political Dysfunction
Despite overwhelming public support, domestic partisan disputes prevent Western countries from delivering crucial aid to Ukraine. To ensure
Why Are So Many Young Chinese Depressed?
Young Chinese are increasingly disillusioned by a rigid education system, restrictions on free movement and heavy-handed family policies.
The Rule of Law Under Fire
The post-1945 international order is not perfect, not least because it remains dominated by its leaders and architects: Europe and, especially,
The Inflation Challenge in 2024
The latest consumer price data in major advanced economies offer some encouraging news about headline inflation trends; but core inflation
Will High Interest Rates Trigger a Debt Disaster?
Big government deficits and rising debt-to-GDP ratios are triggering calls for fiscal austerity. But many fiscal hawks ignore the role that
Is Industrial Policy Like Vitamin C or Penicillin?
Industrial policy is being resurrected worldwide, despite a mixed legacy. Yet the prevalence of market failure suggests that improving economic
Why Mainstream Economics Got Inflation Wrong
Leading economists’ misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures, from not foreseeing
An Industrial Strategy for Europe
Europe may need to follow the US and China in the deployment of an industrial strategy. It has the tools to do so.
Should Fiscal Policy Resemble Private Budgets?
Governments are not like individuals or companies. They have far greater borrowing capacity. But limits exist. It is time to think about them.
World of Warfare
The post-1945 Pax Americana appears more vulnerable than ever before, and its main rivals are eager to exploit its apparent weaknesses in
What Can COP28 Achieve?
‘There are few mysteries left about how to mitigate climate change. The main challenge is whether the right policies can be put in place.’
The Spiral of Violence that Led to Hamas
In the eyes of many outside observers, the cause of Palestinian autonomy and statehood has now been tainted by the gruesome murders and abductions