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As the financial crisis continues, the U.S. Congress is considering a bill that would jeopardize the independence of the Federal Reserve. This is a shame. Monetary policy should be protected from congressional politics.
ReadAt first, Russia reacted to the global economic crash with denial. Then came a period of reform. What follows next will likely decide the battle between the country's liberals and hardliners.
ReadJapan should not apologize for its past aggression by emulating the contrition that Germany has displayed since the mid-1960s because it would risk a nationalist backlash. A more promising model is the one set by West Germany in the 1950s, which focuses on the future.
ReadSovereignty is the ultimate prize in international relations. But it is not an objective term -- increasingly, it is awarded and defined by powerful actors whose interests are at stake.
ReadDemocratic institutions tend to emerge only when certain social and cultural conditions exist. But economic development and modernization push those conditions in the right direction and make democracy increasingly likely.
ReadAutocracies such as China and Russia do not represent a sustainable alternative to liberal democracy. In fact, the pull of liberal democracy is stronger than ever.
ReadCritics refute Muller’s assumptions about ethnic conflict; Muller responds.
ReadThe world has grown much more peaceful over the past 15 years -- except for oil-rich countries. Oil wealth often wreaks havoc on a country's economy and politics, helps fund insurgents, and aggravates ethnic grievances. And with oil ever more in demand, the problems it spawns are likely to spread further.
ReadDespite some eerie parallels between the position of the United States today and that of the British Empire a century ago, there are key differences. Britain's decline was driven by bad economics. The United States, in contrast, has the strength and dynamism to continue shaping the world -- but only if it can overcome its political dysfunction and reorient U.S. policy for a world defined by the rise of other powers.
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