The Fed is flying through a fog of conflicting data, trying to soft land the economy. Rarely has visibility been this poor. The glide path
Landing in Fog
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Theme of the Week
Why Is US Inflation Falling?
“Economists are much maligned for the bad forecasts. That criticism doesn’t hold up when it comes to falling US inflation.” However
China’s Recent Economic Woes Suggest There is Something Seriously Amiss
China’s economy is disappointing. Longstanding challenges related to a misallocation of resources and poor governance are at root.
The Right Way to Intervene in Clean Tech
Energy markets have clearly failed to accelerate the deployment of renewables. But as the pendulum swings in the direction of state intervention,
What to Do About Radical Uncertainty
A longstanding belief in the predictability of market behavior and outcomes has created plenty of fodder for academic theorizing in economics.
The Comeback of Industrial Policy: Bidenomics and the Global System
Industrial policy is not always wrong and sometimes it is very right. Now is one of those times. Even Adam Smith might agree.
Focus on Productivity, Not Technology
Scientific and technological innovation may be necessary for the productivity growth that enriches societies, but it is not sufficient. Without
We Celebrate Struggle
On July 4 Americans celebrate their independence and freedom. But they also celebrate the permanent struggle to form a more perfect
Strengthening the Global Balance Sheet
The latest last-minute deal to raise the US debt limit does not solve the underlying political problem. On the contrary, with the country
The US Debt Ceiling Debacle Is Not Over
The latest last-minute deal to raise the US debt limit does not solve the underlying political problem. On the contrary, with the country
The Quad’s Big Moment
The Quad is increasingly viewed as an important potential tool for delivering public goods in the Indo-Pacific and preventing China from achieving
We Honor our Mothers
Mother’s Day is celebrated in more than 50 countries around the world, and for good reason. We honor our mothers in prose and verse. By
The Sino-Indian Rivalry Is Reshaping Asia
By standing up to Chinese territorial encroachments, India has openly challenged Xi Jinping’s expansionism in a way that no other world
A Bank Murder Mystery
The primary lesson learned from recent banking stress is that banks are fundamentally risky ventures. Regulation must be improved and strengthened.
In Defense of Nature-Based Carbon Markets
Though carbon-offset schemes are riddled with complexity, there is no question that they pay for something that matters. Far from being a
Belonging, COVID, and Students
It has been three years since COVID shut down schools, and we are still learning about the profound impact it has had on our youngest generations.
Who Is to Blame for the New Banking Crisis?
In 2018, US lawmakers loosened banking regulations on the spurious grounds that smaller banks do not pose systemic risks to the stability
Will Geopolitics or Technology Reshape the Global Monetary Order?
China was supposed to be the main beneficiary of a shift away from the dollar by countries fearing its “weaponization” by US authorities.
What Europe’s Economy Needs Now
The US Inflation Reduction Act should be seen as a wake-up call for Europe. As the European Investment Bank Group holds its first-ever EIB
Globalization’s Latest Last Stand
With the world increasingly turning away from economic integration and cooperation, the second wave of globalization is threatening to give
Eliminate the Debt Ceiling
The periodic chaos and exceptional measures associated with the US federal debt ceiling are costly, unnecessary, and could well end in catastrophe.
How Not to Fight Inflation
A careful look at US economic conditions supports the view that inflation was driven mainly by supply-side disruptions and shifts in the pattern
The Second Green Revolution Will Be Digitized
Six decades after the Green Revolution began, the rise of robotics and artificial intelligence may usher in another agricultural transformation.
China and the Sovereign-Debt Bomb
A failure to get ahead of the developing world’s looming debt crises would represent a moral failure, and would also greatly dampen world