The Resurgence Of The Rest

The 2020s now appear likely to unfold as a typical postwar decade, with some emerging economies falling, others rising, and a few standing out as genuine stars. A few will continue to rise to prosperity through the tried-and-true method of export manufacturing. Read Here | Foreign Affairs

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On Election Eve, Economists Struggle To Figure Out A World That’s Unraveled

From the 2008 financial crisis to the COVID-19 shutdown, the world’s best economists have struggled—usually unsuccessfully—to regain the influence over policymakers they once wielded with such abandon. The problem is, most of them don’t have new theories ready that can actually make sense of a globalised world in disarray—and won’t for quite a while. Read […]

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The Global Economy Will Never Be The Same

The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike. Read Here | Foreign Affairs

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The End Of Economics?

In the three decades since the end of the Cold War, economics has enjoyed a kind of intellectual hegemony. In the three decades since the end of the Cold War, economics has enjoyed a kind of intellectual hegemony. It has become first among equals in the social sciences and has dominated most policy agendas as well. Economists have […]

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Extraordinary Measures For Ordinary Times

The legacy of 2007 is still with us. Its most devastating and destructive effect was to put a premium on unconventional monetary measures. Unfortunately, when policymakers scrambled in search of “big bazookas” ten years ago, they set the stage for the return of an old character: a strongman willing to pull the trigger. Read Here […]

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A Tight Squeeze

During the financial crisis, when the global economy faced its gravest threat since the 1930s, policymakers sprang into action. To stimulate the economy, central banks slashed interest rates and politicians spent lavishly. As a result, the recession, though bad, was far less severe than the Depression. Unfortunately, however, that quick response nearly exhausted governments’ economic arsenals. […]

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Global Economy Three Engines Down

The global economy is like a jetliner that needs all of its engines operational to take off and steer clear of clouds and storms. Unfortunately, only one of its four engines is functioning properly: the Anglosphere (the United States and its close cousin, the United Kingdom). Read Here – Project Syndicate

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The Dollar Sinkhole

China’s $3.8 trillion of currency reserves are the largest stockpile ever amassed. Economists have long seen that money as a strength — the ultimate rainy-day fund should China’s shadow-banking system blow up. Trouble is, the value of those holdings depends on China’s $1.3 trillion of U.S. Treasuries. If they plunge in value, all hell breaks loose […]

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