Supporters of populist parties often resent experts who believe their specialized knowledge entitles them to make major policy decisions.
Rebuilding Trust in Expertise
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A Victory Lap for the Transitory Inflation Team
More than two years after economists divided into opposing camps over the nature of the post-pandemic inflation, we now know which side was
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
A Teaching Moment
Complexity is common. The better we understand its sources, the better we can address its challenges.
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.
Certain Uncertainty in the US Bond Market
As inflation recedes bond yields are apt to fall.
Dogs and Economics
Dogs demonstrably make their owners happier. As a result, dog-owners are likely to be more productive. Doggone it!
The Fed’s Done: What Next?
The Fed’s tightening cycle is done. Now comes the recession, for which Wall Street, Main Street and Pennsylvania Avenue are ill prepared.
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.
Does Anyone Care About Deficits?
In recent months, US bond yields have jumped. Surging government deficits are partly to blame. Will politicians respond?
Crime and Politics in 2024
A year from now Americans will be heading to the polls to select their next President, and crime will be one of the key issues.
War and Dollars
Between new wars, the return of nuclear brinkmanship, and threats to the US dollar, there is good reason to worry about the future of global
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
Data Dependent?
The Fed is a self-described ‘data dependent’ decision-maker. But that’s not all. Its aversion to inflation risk and its abiding reliance
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.’
China’s Great Leap Backward
‘President Xi prioritizes political control over growth. He is getting his way, for better or worse’.
The Middle East: Emotion, Reasoning and Hope
The massacres of innocent Israeli men, women, and children by Hamas were monstrous acts of pure evil. How are we to understand what has happened?
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
Pandemic Preparedness Cannot Wait
As multilateral institutions debate how to mitigate future disease outbreaks, we can take practical steps to improve upon the innovative mechanisms,
How Finance Became the Problem
Over time, finance has evolved from playing a crucial but merely intermediary role in the economy, to becoming the driving force behind most
The New Industrial Politics
Recent scholarship has done much to reopen the case in favor of selective government intervention to promote specific industries in particular
The Promise and Peril of Decarbonization
To achieve a just transition to renewables, the international community must enable emerging and developing economies to make the necessary
Are Stocks and Bonds Poised to Sell-Off?
In 2022, rising inflation triggered a simultaneous sell-off in stock and bond markets. Are we now poised for a repeat?
The Green Growth Mindset
Heated academic debates between proponents and opponents of traditional economic growth under capitalism might make for good television, but