Wednesday, October 22, 2014
  1. The Moral Economy of Debt

    Robert Skidelsky

    The Moral Economy of Debt

    3

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

    Student loan debt Light Brigading/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

  2. Inheritance and Inequality

    Edward N. Wolff
  3. America, the Balanced

    Jeffrey Frankel

    America, the Balanced

    1

     suggests that the true US current-account balance could be a surplus.

    Pile of money Nicke Ares/Flickr

    It may be time to stop worrying about the US current-account deficit – and not only because of adjustment at home and in China. It is possible that, properly measured, America's true deficits were smaller than has been reported, and even that, in some years, they were not there at all. READ MORE

  4. The Inequality Trifecta

    Mohamed A. El-Erian

    The Inequality Trifecta

    23

     outlines a strategy to stem the rise in inequality of income, wealth, and opportunity.

    income inequality shoe shiner M. Jeremy Goldman/Flickr

    Perhaps the most striking disconnect at the annual IMF/World Bank meetings was the disparity between participants’ interest in discussions of inequality and the ongoing lack of a formal action plan for governments to address it. This represents a profound failure of policy imagination – one that must urgently be addressed. READ MORE

  5. China’s Vicious Growth Circle

    Keyu Jin

    China’s Vicious Growth Circle

    7

     attributes China's economic woes to the perpetuation of a skewed growth model.

    Ship with containers Evan Leeson/Flickr

    Most economists have a reason to be worried about China’s economy – whether it be low consumption, industrial overcapacity, environmental degradation, or government interventions. What many fail to recognize is that these are merely the symptoms of a single underlying problem: China’s skewed growth model. READ MORE

Focal Point

More
295 pages
295 pages

Commentaries available in 12 Languages