Finance
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Snapshot,
January 12, 2012
The problem isn't weak EU economic policy, it is that no country has reason to live up to its obligations or to force its partners to do the same. What Europe really needs is a sovereign credit club; at the cost of accepting certain performance standards, countries would join to get access to low-cost capital.
Essay,
Jan/Feb
2012
Confidence in the dollar and the euro continues to falter, threatening the international monetary system. The world has faced such monetary collapse before: in the 1930s, with disastrous results, and less catastrophically in the 1970s. Understanding these two precedents is crucial to successfully navigating the crisis today.
Snapshot,
November 21, 2011
Monti’s appointment fits an established Italian pattern: fiscal laxity under populist center-right governments followed by brief emergency periods of technocratic austerity under the center-left and EU. To make fiscal responsibility stick this time, Brussels should back Monti as he builds up a popular mandate for gradual reform.
Snapshot,
November 17, 2011
As the eurozone's biggest economy, it was Germany's job to stabilize the system when the first signs of financial trouble appeared. Instead, it did precisely the opposite. Whether the euro survives depends on Frankfurt finally assuming its role as leader.
Snapshot,
October 24, 2011
The protestors of the Occupy Wall Street complain about the unfairness of the bailout, unemployment, and taxes. But to make the U.S. economy more fair, Washington needs to use the capitalist system, not to destroy it.
Snapshot,
October 21, 2011
Protesters in Lower Manhattan are missing the point. The so-called "one percent" actually does a lot of good. It's Washington's willingness to bailout banks that is the real problem.
Snapshot,
August 11, 2011
Unlike Margaret Thatcher in 1981, British Prime Minister David Cameron has appeared totally unprepared for the social unrest that his spending cuts have inevitably unleashed. The result: ugly class politics are back in Britain.
Snapshot,
July 25, 2011
The EU agreement to refinance Greece's debt may have calmed the markets, but ongoing austerity measures across Europe are leave open potentially worrying side effect that policymakers have yet to address: the chance for China to buy sensitive assets at fire-sale prices.
Essay,
Jul/Aug
2011
Many economists argue that global financial imbalances fueled the recent recession. To prevent future crises, world leaders are trying to even out the balance sheet. They need not worry: it turns out that a rebalancing is already under way.
Snapshot,
June 9, 2011
As the race to replace Dominique Strauss-Kahn at the IMF heats up, emerging markets finally have a shot at the head table. Here's why they might fail to seize it -- and what it will mean.
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