Every day, the European Union, the United Kingdom, and the United States send Russia an average of $500 million for oil and gas. But there
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Russia’s Stolen Future
By invading Ukraine, Russian President Vladimir Putin is challenging not only that country’s independence but also the broader European
The Trust-but-Verify Path to Net Zero
Comparisons between today’s China-US tensions and the Cold War are often superficial and misleading. But reviving the maxim that underpinned
Biden’s Misery Index
Historically, the Misery Index – the sum of the unemployment and inflation rates – has offered a sound benchmark for assessing an incumbent
America’s Not-So-Great Inflation
The acceleration of US inflation in recent months has led many alarmed observers to point to parallels with the 1970s, when commodity prices
The South China Sea’s Environmental Crisis
The environment is rarely served by great power politics. China’s territorial ambitions in the South China Sea are hastening the destruction
How China Views the Ukraine Crisis
China is watching the Ukraine crisis closely. It is a test of America’s resolve, and it could have important implications for geopolitical
A Whiff of Munich
With the United States and its NATO allies seeking further negotiations to prevent Russia from invading Ukraine, many have been quick to invoke
Why Did Almost Nobody See Inflation Coming?
Forecasting inflation is a staple of macroeconomic modeling, yet virtually all economists’ predictions for the United States in 2021 were
Regime Change in the Global Economy
Growth theory doesn’t make for pleasant reading these days. Indications point to challenges ahead.
America’s Democratic Future
Demographics are friendly to Democrats. But without safeguards to voting rights, majorities may not matter.
The ECB’s Savvy Gradualism
Unlike the US Federal Reserve, the European Central Bank has no fiscal backstop and must worry about the cohesion of the eurozone, in addition
The Ghost of Christmas Inflation
In a pandemic, you can send people all the money in the world and they still won’t go out to dinner or book a flight, especially if those
Inside America’s Polarized Views on Race
We are not color blind. We form views on race and inequality that defy statistics and analysis. Overcoming racial inequality will be an enduring
Finding Purpose in the Humanities
STEM prepares us to tackle technical problems. The humanities prepare us to tackle life’s problems. It is time to restore the humanities
Time to Overhaul the Global Financial System
For low- and lower-middle-income countries to pursue their development goals and do their part in tackling problems like climate change, they
Reeling in a Deal to Save the Ocean
The oceans are our commons. We must act before they become our tragedy. The upcoming WTO meeting offers an opportunity for a fresh start.
The Inflation Conundrum
From the US and Brazil to Turkey and India, growing price pressures are leaving policymakers facing some difficult decisions. Unlike in many
The Rise of Intangible Capitalism
The digitized, dematerialized, knowledge-based economy is already here and spreading, and offers huge potential value. The challenge for firms
Back to Austerity?
The public purse is not unlimited. It is time for proponents of government programs to focus on what is essential to achieve before the next
The Path to Climate Credibility
As the world convenes to address climate change, it may take sticks as well as carrots to meet emissions targets. Tariffs on laggard nations
The True Costs of Government Spending
While all politicians exaggerate, US President Joe Biden’s claim that his proposed $3.5 trillion spending package “costs zero dollars”
China Must Restore Growth
Evergrande has exposed China’s fundamental growth vulnerability—an excessive reliance on debt. Structural reform is required now more
Ending Hunger Sustainably
Ending hunger, malnutrition and food insecurity is not at odds with custody of the planet. Data, technology and public-private partnership