Thursday, October 2, 2014
  1. Economics

    Markets’ Rational Complacency

    Nouriel Roubini
    Economics

    Markets’ Rational Complacency

    1

     asks why global financial markets remain buoyant in the face of mounting geopolitical risks.

    Hong Kong democracy protests Hong Kong/Chris Lusher/ZumaPress

    A century ago, financial markets priced in a very low probability that a major conflict would occur, blissfully ignoring the risks that led to World War I until late in the summer of 1914. Back then, markets were poor at correctly pricing low-probability, high-impact tail risks; they still are. READ MORE

  2. Business & Finance

    Debeaking the Vultures

    Joseph E. Stiglitz
    Business & Finance

    Debeaking the Vultures

    &  on the efforts to remove new legal obstacles to sovereign-debt restructuring.

    Vulture storm clouds Hope Abrams/Flickr

    In the midst of the ongoing dispute between Argentina and the “vulture funds” that hold its bonds, a broad consensus has emerged concerning the need for sovereign-debt restructuring mechanisms. Otherwise, US court rulings in the vultures' favor will give free rein to those who would sabotage future restructurings. READ MORE

  3. Business & Finance

    The Fed Trap

    Stephen S. Roach
    Business & Finance

    The Fed Trap

    2

     cautions that the Fed's market fixation is leading it to exit from quantitative easing too slowly.

    Janet Yellen IMF/Flickr

    The US Federal Reserve is grappling with the disparity between its unconventional policy's success in preventing economic disaster and its failure to foster a robust recovery. Given that this disconnect has fueled financial-market excesses, the exit will be all the more problematic – especially for the market-fixated Fed. READ MORE

  4. Business & Finance

    The ECB’s Leap into the Unknown

    Jürgen Stark
  5. World Affairs

    The Intellectual Battle Against ISIS

    Mohammed bin Rashid Al Maktoum
    World Affairs

    The Intellectual Battle Against ISIS

     calls for a broad development agenda to defeat the Middle East's ideologies of hate.

    ISIS fighter in Iraq Medyan Dairieh/ZumaPress

    If the world is to defeat the Islamic State, leaders must recognize that such fires cannot be extinguished by force alone. The world must unite behind a holistic drive to discredit the ideology that gives the extremists their power, and to restore hope and dignity to those whom they would recruit. READ MORE

Focal Point

More

The global debate fostered by Project Syndicate is made possible, in part, by support from: