Saturday, October 25, 2014
  1. American-Made Financial Repression

    Andrew Sheng

    American-Made Financial Repression

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    &  argue that the dollar's global dominance has gone from benefit to burden for China.

    dollars in peoples hands Laura/Flickr

    The late economist Ronald McKinnon argued that China and the US, by working together, could alleviate financial repression and enhance global monetary stability. Unfortunately, this advice is not popular among US economists and policymakers, who prefer the short-term political advantages afforded to them by free-market rhetoric. READ MORE

  2. The WTO’s Reform Crisis

    Emily Jones

    The WTO’s Reform Crisis

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     opposes proposals to abandon the organization's consensus-based decision-making.

    WTO public forum globes WTO Public Forum/Flickr

    The World Trade Organization’s director-general, Roberto Azevêdo, has called for an urgent shakeup of his institution, and one of the main reform proposals is to abandon consensus-based decision-making. That might boost efficiency, but it could jeopardize one of the WTO’s greatest assets: its legitimacy. READ MORE

  3. The TPP’s Missing Ingredient

    Simon Johnson

    The TPP’s Missing Ingredient

    7

     says that Trans-Pacific Partnership needs a clause prohibiting currency manipulation.

    dollar currency manipulation Eric Gjerde/Flickr

    The typical approach when seeking to finalize an agreement aimed at reducing trade barriers is to ask for less, not more, from those on the other side of the table. But the Trans-Pacific Partnership is different: It will work only if the US insists that participating countries do not engage in currency manipulation. READ MORE

  4. Europe’s Brush with Debt

    Hans-Werner Sinn

    Europe’s Brush with Debt

    24

     suggests that the eurozone emulate the US approach to maintaining stability in a monetary union.

    eurobonds building graffiti Karin Viva/Flickr

    French Prime Minister Manuel Valls and his Italian counterpart, Matteo Renzi, refuse to comply with the eurozone's 2012 fiscal compact; instead, they intend to run up fresh debts. Their stance highlights a fundamental flaw in the European Monetary Union’s structure – one that Europe’s leaders must address before it is too late. READ MORE

  5. The Moral Economy of Debt

    Robert Skidelsky

    The Moral Economy of Debt

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     on the need to limit credit supply and demand to what the economy is capable of producing.

    Newsart for The Moral Economy of Debt JuanG89/Flickr

    The creditor-debtor relationship embodies no iron law of morality; rather, it is a social relationship that always must be negotiated. When quantitative precision and an unyielding approach to debt obligations are the rule, conflict and penury soon follow. READ MORE

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