Despite signs that inflation in most major economies has peaked and is trending back down, recent data releases have renewed fears that central
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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
A Good Year for China’s Economy
Following the government’s abandonment of its zero-COVID policy in December – and especially since the middle of last month – the economy
The Crusade to Ban ESG Makes No Sense
Efforts to prohibit financial institutions from considering environmental, social, and governance criteria reflect a fundamental misunderstanding
China Is Dying Out
Chinese policymakers must somehow implement policies to reduce the cost of raising children without crashing the economy. But even if they
Time For a Different Drink?
While it is tempting to assume the market is driven only by the direction of the Federal Reserve, what is happening in China should also be
Why the War Will Continue
The map of Ukraine a year from now will most likely resemble nothing so much as the map as it appears today. The year ahead promises to be
The United States Marine Corps, Quo Vadis?
After almost 250 years, the US Marine Corps is facing what may be its biggest threat — from within.
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
Markets Believe in Miracles
Global equity markets are priced to perfection, a state that is unlikely to remain unchallenged.
There Is More Inflation Complexity Ahead
As US inflation gradually eases, the claim that today’s inflationary pressures are the result of a temporary supply shock has re-emerged.
Quitting While on Top
New Zealand Prime Minister Jacinda Ardern’s decision to resign, despite the support of a solid parliamentary majority and no challenge from
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.
Utopia or Bust
The grand narrative of the long century between 1870 and 2010 was about technological triumph, coupled with social-organizational failure.
Do We Know What Causes Inflation?
The Phillips Curve has fallen into disrepair, leaving central bankers without reliable tools to navigate through the fog. That ought to worry
Japan’s New Security Posture Is Abe’s Legacy
Japanese Prime Minister Fumio Kishida’s plan to double the country’s military spending, together with the recent update to Japan’s national
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
It Could Happen in 2023
Investing in private markets has been all the rage. That’s a warning, not an endorsement. The risks of disruption in private markets are
What Drives Innovation?
After decades in the wilderness, industrial policy is now being rediscovered as a tool for addressing climate change and navigating a fraught
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.
Germany: Tanks are Moral
The 20th century was defined, in many ways, by the worst of Germany. The 21st can yet be defined by its best moral self.
The Limits of Japan’s Military Awakening
While Japan’s move toward rearmament is welcome, the embrace of Tomahawk missiles and hypersonic weapons alone will not force China to stop
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
Round 1: 2023 ‘Forecasts’
Although John Kenneth Galbraith once said ‘The only function of economic forecasting is to make astrology look respectable,’ we think