Americans must constantly and critically question the breezy, arrogant belief that the United States is a most perfect union of freedom, democracy,
The Logic of Effective Climate Action
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A Global Tax Deal for the Rich, Not the Poor
Despite the recent G7 agreement on corporate taxation, global leadership requires going beyond national interests to ensure that all countries
The Investment Imperative for the G7
Rich-country governments should be prepared to invest an additional $1 trillion per year to boost growth and lay strong foundations for a
A Curse Worse than Cash
Although prominent cryptocurrency advocates are politically connected and have democratized their base, regulators simply cannot sit on their
The Stimulus Didn’t Work, Again
Since the onset of the pandemic in March 2020, the US government has provided tens of millions of households with direct injections of cash.
The Ghost of Arthur Burns
Is the Federal Reserve making the same mistake again? Stephen Roach thinks the Fed may be overlooking inflation risk just as it did in the
Mapping the Path to Carbon Neutrality
As countries around the world consider whether and how to raise their decarbonization ambitions under the Paris climate agreement, South Korea
Coming to Terms
When it comes to peace, military supremacy, hatred and subjugation can not substitute for mutual recognition, trust and a willingness to compromise.
Beware Economists Bearing Policy Paradigms
US President Joe Biden’s administration has embarked on a bold and long-overdue departure from the economic policy orthodoxy that has
Helping the Other 66%
Addressing within-country inequality may be the political imperative of the moment. But tackling vastly greater cross-country disparities
The Green Art of the Possible
Europe’s experience suggests that decarbonizing the power sector first, while sheltering industry from higher costs, can generate some modest
Morals and the Vaccine Market
The glaring global inequity in access to COVID-19 vaccines is both an intellectual and moral failure. The pandemic is a clarion call to start
President Biden, Support a People’s Vaccine
Over the past year, the world witnessed unprecedentedly rapid development of safe and effective COVID-19 vaccines, largely owing to US public
The Challenge of Big Tech Finance
In an old parable about banks and regulators, the banks are greyhounds – they run very fast – while the regulators are bloodhounds, slow
Ensuring a Stronger and Fairer Global Recovery
Although tough trade-offs are sometimes unavoidable, there is a way for policymakers to maintain a robust global economic recovery in 2021
All Eyes on Digital Payments
Digital payment is a promising technology that can facilitate more flexible transactions with added security. But existing platforms embed
Resolving the Iran Conundrum
US Secretary of State Antony Blinken believes that Iran is only months away from being able to produce enough fissile material to build a
Why Should Biden Ditch Trump’s China Tariffs?
When it comes to tariffs, self-interest and mutual interest are aligned. By reversing Trump tariff’s, everyone will be better off.
Who Needs a Digital Dollar?
Recently, the idea of a digital greenback elicited support from US Treasury Secretary Janet Yellen and Federal Reserve Chair Jay Powell. Ultimately,
Build Back Equal
Creating an economy that works for everyone is not just a matter of empowering those who have been “left behind” by globalization. Instead,
Evolution, Not Revolution, in Economics
A growing acceptance of aggressive fiscal policy is supposed to be the first principle of a new, post-revolutionary regime in macroeconomics.
What Could Cause a US-China War?
Thucydides attributed the war that ripped apart the ancient Greek world to two causes: the rise of Athenian power, and the fear that this
Central Banking’s Brave New World
Leading central banks are now keen to take on responsibility for policy objectives they previously shied away from, such as reducing inequality
Biden’s Good Start on China
With US President Joe Biden restoring American support for multilateralism and international partnerships, the world’s democracies should