Wednesday, August 20, 2014
  1. How Money is Made

    Karl-Theodor zu Guttenberg

    How Money is Made

    &  propose a strategy to boost lending for investments that contribute to GDP.

    Making Money Tiz/Flickr

    The unfettered creation of money by private banks has generated overwhelming instability, undermining the fundamental principle that money creation should serve the public good. By implementing safeguards that ensure that credit serves productive purposes, policymakers can achieve debt-free, stable, and sustainable economic growth. READ MORE

  2. The Fragmentation of Bretton Woods

    Mohamed A. El-Erian

    The Fragmentation of Bretton Woods

    2

     says that refusal to reform the IMF and the World Bank is making the world more dangerous.

    IMF Managing Director Christine Lagarde

    In recent years, political support for economic multilateralism has eroded, undermining the effectiveness of the Bretton Woods institutions and disrupting the international monetary system. This is not only hampering the global economy’s ability to meet its potential; it is also contributing to geopolitical insecurity. READ MORE

  3. Banking on the BRICS

    Barry Eichengreen

    Banking on the BRICS

    3

     is bullish on the group's New Development Bank, but not on its Contingent Reserve Arrangement.

    BRICS leaders 2014 Wikimedia Commons

    For the leaders of the BRICS countries, the announcement in July of their agreement to establish a “New Development Bank” and a “Contingent Reserve Arrangement” was a public-relations coup. The NDB makes sense for the BRICS, and it has a future, but the CRA is empty symbolism, and that is how it will be remembered. READ MORE

  4. Argentina’s Griesafault

    Joseph E. Stiglitz
  5. A Tear for Argentina

    Kenneth Rogoff

    A Tear for Argentina

    9

     warns that a broken sovereign-debt system augurs poorly for global financial stability.

    Argentina Bank David Fernandez

    Argentina’s latest default poses unsettling questions for policymakers. Though the country’s periodic debt crises are often the result of self-destructive macroeconomic policies, the default has been triggered this time by a significant shift in the international sovereign-debt regime. READ MORE

Face-Off

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229 pages
229 pages

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