While economic observers have long worried about the growing dominance of Big Tech, few have apprehended the sheer scale of the problem. Today’s
Market Power Is Eating the Economy
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Is the Fed Getting Burned Again?
As in the stagflationary 1970s, the US Federal Reserve is once again denying that its own policies are the reason for a recent surge of inflation,
TINA and the Curve
In a world of negative real interest rates, tight credit spreads and wobbly cryptocurrencies, investors are hemmed in. Stock markets win when
Taming the New Wild West
Traditionally, the US has favored a largely unstructured internet in order to promote the free flow of ideas and information. But US enthusiasm
Biden’s Antitrust Revolutionaries
A growing debate over the scope and purpose of US antitrust law has pitted traditional technocrats against an ascendant movement that is demanding
The Logic of Effective Climate Action
Americans must constantly and critically question the breezy, arrogant belief that the United States is a most perfect union of freedom, democracy,
Well Fed
Has the Fed changed its tune about inflation? Is it still transitory, or is it now more evenly distributed? What does this mean for markets?
America’s Flawed Search for Itself
Americans must constantly and critically question the breezy, arrogant belief that the United States is a most perfect union of freedom, democracy,
Beyond Divestment
Investors wield huge power to change corporate agendas. As pressure builds for all players in business to tackle the climate change threat,
The Big Float
When the US effectively floated the US dollar in 1971, many foresaw the end, or at least the beginning of the end, of the Bretton Woods system
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
A Looming Tax Shadow?
What will the G7’s agreement to pursue a minimum global income tax rate of 15% mean for the markets?
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
America vs China is Not a Zero Sum Game
If an alien intelligence were monitoring news on Earth, they would probably assume China was eating America’s lunch. They would be mistaken.
Inside Money: An Interview with Zachary Karabell
Zachary Karabell is a leading public intellectual. His most recent book, Inside Money: Brown Brothers Harriman and the American Way of Power
From Goldilocks to Stagflation
Is the world economy restoring growth without inflation (‘Goldilocks’), overheating or succumbing to stagflation?
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.
How to Fix the Gates Foundation
Divorce is difficult. It also puts pressure on foundations run by former partners. The remedy is improved governance.
An Interview with Jim O’Neill
A rare discussion with one of Europe’s leading economists and global thinkers.
Crunch Time
The coming weeks brings a deluge of key economic data. Investors will be looking for patterns, above all in prices as they gauge the sustainability
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
How Not to Launch a Digital Currency
The story of Facebook’s failed effort to launch a global digital currency and payment system is reminiscent of the historic struggle