From the November/December issue of The National Interest. THE DOLLAR is in trouble. That's clear, and it's been true for a while.The cornerstone of the global...
The green shoots of economic recovery that many people spied this spring have turned brown, prompting concerns about whether the policy of jump-starting the U.S. economy...
It has long been recognized that those America's banks that are too big to fail are also too big to be managed. That is one reason that the performance of several of...
This downturn is complex: an economic crisis combined with a financial crisis. Before its onset, America's debt-ridden consumers were the engine of global growth. That...
This global crisis requires a global response, but, unfortunately, responsibility for responding remains at the national level. Each country will try to design its...
A consensus now exists that America's recession – already a year old – is likely to be long and deep, and that almost all countries will be affected. I always...
Economists are good at identifying underlying forces, but they are not so good at timing. The dynamics are, however, much as anticipated. America is still on a downward...
The problems in the US economy and financial system have been apparent for years. But that didn’t prevent America’s leaders from turning to the same people who...
It used to be thought that wars were good for the economy. After all, the Second World War is widely thought to have helped lift the global economy out of the Great...
For a quarter-century, there has been a contest among developing countries, and the losers are clear: countries that pursued neo-liberal policies not only lost the...
But if Clinton and McCain were wrong, what should be done? One cannot simply ignore the pleas of those who are suffering. In the US, real middle-class incomes have not...
The answer came in the form of “inflation targeting”, which says that whenever price growth exceeds a target level, interest rates should be raised. This crude...