Leonard Silk
Essay
Special
1992
The most protracted period of slow economic growth since World War II has contributed to dangerous political and social unrest around the globe. The growth rate of the industrial countries has declined from 4.4 percent in 1988 to 1.7 percent in 1992. In the same four years, the United States averaged about 1/2 percent growth a year. Meanwhile the ex-communist economies lost more than one-third of total output. Slow growth has undermined political leaders and incited nationalism and protectionism. It also has crimped efforts to deal with economic development, environmental management and migration. Cures start at home in forceful U.S. measures to lower the deficit, increase investment and spur technological innovation.
Essay
Spring
1988
US economic problems require defence spending cuts, since civilian programmes cannot be cut nor taxes raised, and these issues thus have a geopolitical dimension. Europe must therefore assume primary responsibility for its own defence, thus "sustaining the Pax Americana from which all have profited so handsomely".
Essay
Special
1986
Forewarns of another world depression and Western political fragmentation, if the USA's twin deficits are not reduced, and reduced gently. But the USA's major trading partners and world creditors, Japan and the FRG, are unwilling to shoulder the burden of world banker. Internationally integrated monetary and fiscal policies must nevertheless overcome traditional national politics and interest-group pressures.
