Thursday, April 24, 2014
  1. Europe’s Next Moral Hazard

    Hans-Werner Sinn

    Europe’s Next Moral Hazard

    1

     laments the renewed run-up in public debt in key eurozone economies.

    Newsart for Europe’s Next Moral Hazard b.e.n./flickr

    The limit beyond which eurozone governments' creditors become anxious has been raised significantly by the bailout architecture put in place over the last two years. This will bring a few years of calm as debt levels climb steadily to that limit, before the architecture collapses, injuring ordinary citizens the most. READ MORE

  2. The Gain in Spain

    Michael Spence

    The Gain in Spain

    3

     explains why the Spanish economy is beginning to attract investors' attention.

    Newsart for The Gain in Spain ChemaConcellon/Flickr

    The Spanish economy is beginning to attract investors’ attention – and not only because asset prices are depressed in the current climate. While there are huge problems that must still be overcome, there is also a clear sense on the ground that the economy has passed a turning point, roughly at the start of this year. READ MORE

  3. The Oligarchy Fallacy

    Jeffrey Frankel

    The Oligarchy Fallacy

    5

     argues that attacking the ultra-rich is an inefficient way to reduce inequality.

    Newsart for The Oligarchy Fallacy Neil Girling/Flickr

    Many fear that the rise in income inequality stems from the growing role of money in politics, with the rich persuading governments to adopt policies that favor them as a class. But pursuing the anti-oligarchy argument is not the best way to reduce inequality. READ MORE

  4. The Second Opening of Japan

    Shinzo Abe

    The Second Opening of Japan

    5

     uses Barack Obama's visit as an opportunity to lay out his country's grand strategy.

    Newsart for The Second Opening of Japan Elvin/Flickr

    US President Barack Obama is visiting Tokyo at a unique moment in Japan's history, with its economy moving onto a new growth path that will take advantage of its geographic position. Japan no longer considers itself the “Far” East, but rather the very center of the Pacific Rim, and a neighbor to the global economy's growth center. READ MORE

  5. The High-Tech, High-Touch Economy

    Adair Turner

    The High-Tech, High-Touch Economy

    5

     explains how a fresh wave of automation is transforming employment and much else.

    Newsart for The High-Tech, High-Touch Economy

    Though we live in the hi-tech virtual world of the Internet, the most physical things – including urban land and service jobs – are rising in importance. But there is no contradiction: In an age of information and communication technology, it is inevitable that we value what an ICT-intensive economy cannot create. READ MORE

Focal Point

Cold War II?

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280 pages
280 pages

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