Political Economy

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Apprentices at the Ironworkers Local 549 training facility in Wheeling, West Virginia, March 2012.

Jason Cohn / Reuters

The Trouble With the “Working Hypothesis”

Oren Cass, domestic issues director for Mitt Romney's 2012 presidential campaign and a writer for National Review and other journals, has produced a conservative's treatise on the social and economic ills of America, and what might be done to repair them.

James K. Galbraith

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Labor Jan 14, 2019 Review Essay

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The Trouble With the “Working Hypothesis”

Oren Cass, domestic issues director for Mitt Romney's 2012 presidential campaign and a writer for National Review and other journals, has produced a conservative's...

James K. Galbraith

Political Economy Oct 5, 2018 Snapshot

U.S. Wars Abroad Increase Inequality at Home

The United States' once raised taxes on the wealthy in times of war, now it heaps the costs of conflict onto the middle and lower classes through deficit spending.

Rosella Cappella Zielinski

Political Economy November/December 2018 Essay

The Next Arab Uprising

The fundamental bargain underpinning stability in Middle Eastern states is coming undone. Unless regional leaders move quickly to strike new bargains with their...

Marwan Muasher

Police detain a protester in Amman, Jordan, June 2018

Monetary Issues Jul 3, 2018 Snapshot

U.S. Deficits Are Hurting Emerging Markets

Why Argentina and Turkey Are Feeling the Pain

Brad Setser

A protest against the government's negotiations with the International Monetary Fund, Buenos Aires, Argentina, May 2018.

Finance May 24, 2018 Snapshot

Italy's Revolt Against the EU

Italy's new government is going to push back against any attempt by outside actors to force it to rein in its ambitions.

Erik Jones

Italian Prime Minister Giuseppe Conte in Rome, May 2018.

Monetary Issues Jan 11, 2018 Snapshot

How the Eurozone Might Split

For reasons of both long-term sustainability and short-term politics, the euro is not out of the woods yet.

Mark Blyth and Simon Tilford

Euro coins on display in Zenica, Bosnia and Herzegovina, June 2015.

Economics Dec 22, 2017 Snapshot

Trump and the Bond Market

Donald Trump’s election made investors justifiably nervous. But a mass exodus from the U.S. Treasuries market is unlikely.

Sandy Brian Hager

U.S. President Donald Trump and Treasury Secretary Steven Mnuchin at the Treasury Department in Washington, April 2017.

Finance Dec 6, 2017 Snapshot

Bring Politics Back to Monetary Policy

Decades of appeals to technocratic exceptionalism—the idea that monetary policy should be shielded from democratic oversight—have led to the very politicization of...

Jacqueline Best

Federal Reserve Chair Janet Yellen testifies at the Senate Banking, Housing, and Urban Affairs Committee, February 2014.

Political Economy Nov 20, 2017 Snapshot

How Conservatives Can Make Housing a Winning Issue

In the United Kingdom in the 1980s, government interventions in housing helped persuade a majority of voters to back the Conservatives.

Sahil Mahtani

British Prime Minister Margaret Thatcher points skyward as she receives standing ovation at a Conservative Party Conference on October 13, 1989.

Political Economy Nov 1, 2017 Snapshot

China Courts Iran

As the Trump administration works out the specifics of its strategy to contain Iran, China is looking for ways to bring Iran into the global system.

Alex Vatanka

Iranian Foreign Minister Javad Zarif (left) greets his Chinese counterpart, Wang Yi, in Beijing, December 2016.

Economics November/December 2017 Review Essay

How Should Governments Address Inequality?

How should politicians and policymakers respond to economic inequality? A new collection of essays offers some answers, but much work still needs to be done to turn...

Melissa S. Kearney

From the Archives Sep 26, 2017 Snapshot

A Fiscal Union for the Eurozone

A fiscal union for the eurozone is the only way to save the common currency—and the EU.

Pierpaolo Barbieri and Shahin Vallée

At the headquarters of the European Central Bank in Frankfurt, September 2013.

Economic Development Aug 17, 2017 Snapshot

India's Tax Reform

Despite the best efforts of the GST's architects, India today is not truly one nation and the tax is not truly one tax.

Praveen Chakravarty

A Hindu holy man speaks with a street vendor in Allahabad, August 2017.

Labor Jul 24, 2017 Snapshot

Market Parables and the Economics of Populism

The market parable is dangerously alluring: it demands policies that strive for a utopian future and meanwhile delivers disaster.

Jonathan Schlefer

A Bernie Sanders rally in Queens, April 2016.

From the Archives Jun 12, 2017 Snapshot

Is Slow Productivity Growth Here to Stay?

Governments employing widely divergent policies have been unable to end the productivity slump and deliver the higher living standards their citizens expect.

Marc Levinson

A crane above containers on a ship is seen during an intermittent nationwide strike of dockworkers against a planned port reform in line with European Union laws in the port of Valencia, Spain, June 2017.

Political Economy May/June 2017 Essay

The Liberal Order Is Rigged

While the liberal order has accomplished a great many things, the international institutions that underpin it have grown dangerously out of touch with very people they...

Jeff D. Colgan and Robert O. Keohane

Workers listen to 2012 Republican presidential candidate Mitt Romney at a campaign stop in Canton, Ohio, March 2012.

Political Economy Dec 8, 2016 Review Essay

The Culture of Capitalism

How modern growth emerged, and why it emerged when and where it did, is one of the core questions of economic history. In his new book, A Culture of Growth: The...

Peer Vries

Best of 2016 Nov 15, 2016 Snapshot

Global Trumpism

The global revolt against elites is not just driven by revulsion and loss and racism. It’s also driven by the global economy itself. The era of neoliberalism is over....

Mark Blyth

Nigel Farage at Trump Tower, New York, November 2016.

Monetary Issues Sep 5, 2016 Snapshot

Democrats, Republicans, and the Federal Reserve

When a Democratic presidential term came to an end benchmark interest rates were always higher than they were at its beginning. When a Republican was in office,...

Edoardo Campanella

A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, DC, on March 16, 2016.

Political Economy Aug 3, 2016 Snapshot

Venezuela's Addiction

Venezuela's recent economic breakdown echoes similar crises in the country's past.

Raúl Gallegos

A mural in Caracas depicting Venezuela's former President Hugo Chávez and current President Nicolás Maduro, April 2013.

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Political Economy

The Trouble With the “Working Hypothesis”

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