LONDON – In the United States, for people of a certain age, Margaret Thatcher was a superstar, and Americans have been surprised at the shar…

NEW HAVEN – With much of the global economy apparently trapped in a long and painful austerity-induced slump, it is time to admit that the t…

PARIS – In the early phases of the financial crisis, it was fashionable to argue that the United States’ system of regulation needed a funda…

NEW HAVEN – As US President Barack Obama begins his second term, he needs a simple way to express his vision and policies for the economy – …

LONDON – When Mark Carney replaces Mervyn King as Governor of the Bank of England in July 2013, the world will be deprived of King’s witty p…

NEW HAVEN – During the United States’ recent presidential election campaign, public-opinion polls consistently showed that the economy – and…

PARIS – The European Union is now the proud owner of a Nobel Peace Prize. When the choice alighted on Barack Obama three years ago, the Norw…

NEW HAVEN – Recent indications of a weakening global economy have led many people to wonder how pervasive poor economic performance will be …

PARIS – Some economists believe that this summer could mark the moment when some of the eurozone’s peripheral members may begin to be forced…

PARIS – In an exasperated outburst, just before he left the presidency of the European Central Bank, Jean-Claude Trichet complained that, “a…

NEW HAVEN - A speculative bubble is a social epidemic whose contagion is mediated by price movements. News of price increase enriches the ea…

PARIS – In the last few weeks, the idea of establishing a European banking union has become the latest remedy advanced as a solution to the …

NEW HAVEN – At this time of year, at graduation ceremonies in America and elsewhere, those about to leave university often hear some final w…

PARIS – Global policymakers regularly congratulate themselves on having avoided the policy errors of the 1930’s during the financial crisis …

NEW HAVEN – Great significance – probably too much – has been attached to a possible breakup of the eurozone. Many believe that such a break…

PARIS – The United States is widely recognized as possessing the deepest, most liquid, and most efficient capital markets in the world. Amer…

NEW HAVEN – In his classic Fable of the Bees: or, Private Vices, Publick Benefits(1724), Bernard Mandeville, the Dutch-born British philosop…

LONDON – Ever since the United Kingdom joined the European Economic Community in 1973, after the French withdrew Charles de Gaulle’s veto of…

NEW HAVEN – Economics is at the start of a revolution that is traceable to an unexpected source: medical schools and their research faciliti…

PARIS – Almost everyone nowadays agrees that banks need more capital. Christine Lagarde chose to make it her first campaign as Managing Dire…

NEW HAVEN – It might not seem that Europe’s sovereign-debt crisis and growing concern about the United States’ debt position should shake ba…

PARIS – “April is the cruelest month,” wrote T.S. Eliot at the beginning of his great poem, “The Waste Land.” But, if Eliot had been a profe…

NEW HAVEN – Economists like to talk about thresholds that, if crossed, spell trouble. Usually there is an element of truth in what they say.…

LONDON – The Chinese financial system’s evolution in recent years has been extraordinary. I have observed its transformation as a member of …

NEW HAVEN – The basic principle of financial risk management is sharing. The more broadly diversified our financial portfolios, the more peo…