Thursday, October 23, 2014
  1. The Rebirth of Egypt

    Merit Al-Sayed , ET AL

    The Rebirth of Egypt

    , ET AL 0

    , ET AL  argue that conventional economic indicators fail to capture what is happening beneath the surface.

    Egyptian woman market Ahmed Asad/ZumaPress

    If macroeconomic indicators are to be believed, Egypt’s economic growth has ground almost to a halt over the past three years. Worse, however, the past three decades attest to the failure of conventional macroeconomics to guide policymakers in managing development. READ MORE

  2. Europe’s Brush with Debt

    Hans-Werner Sinn

    Europe’s Brush with Debt


     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

  3. Inheritance and Inequality

    Edward N. Wolff

    Inheritance and Inequality


     refutes Thomas Piketty's argument that wealth transfers exacerbate inequality.

    Newsart for Inheritance and Inequality Ian Wood/Flickr

    In his book Capital in the Twenty-First Century, Thomas Piketty emphasizes the rising share of inheritances and gifts in household wealth over time. This seems like a shocking revelation, implying ever-rising wealth inequality, but is it correct? READ MORE

  4. America, the Balanced

    Jeffrey Frankel

    America, the Balanced


     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

  5. The Inequality Trifecta

    Mohamed A. El-Erian

    The Inequality Trifecta


     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

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295 pages

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