Tuesday, September 1, 2015
  1. Democratizing the Eurozone

    Yanis Varoufakis

    Democratizing the Eurozone

    7

     asks why European policymakers are less accountable than their Chinese counterparts.

    ECB headquarters Frankfurt Luo Huanhuan/ZumaPress

    Political systems prove their worth by how quickly they put an end to their officials’ serial, mutually reinforcing, policy mistakes. Judged by this standard, the eurozone, comprising 19 well-established democracies, lags behind the largest non-democratic economy in the world. READ MORE

  2. A Tale of Two Theories

    Jean Pisani-Ferry
  3. Will Americans Become Poorer?

    Martin Feldstein

    Will Americans Become Poorer?

    9

     takes on Robert Gordon's thesis that US economic growth will remain permanently subdued.

    Wall Street New York City Sergi Reboredo/ZumaPress

    Robert Gordon of Northwestern University has launched a lively and important debate about the future rate of US economic growth. But, though Gordon's gloomy assessment of America’s growth prospects deserves to be taken seriously, there are good reasons to reject his argument. READ MORE

  4. A Cautionary History of US Monetary Tightening

    J. Bradford DeLong

    A Cautionary History of US Monetary Tightening

    19

     points out that the last four episodes reduced employment and output far more than anticipated.

    Janet Yellen Ron Sachs/ZumaPress

    The US Federal Reserve has tightened monetary policy four times in the past 40 years, and all four time the impact on the economy was more harmful than expected. As the Fed prepares to tighten monetary policy once again, an examination of this history suggests that the US is about to enter dangerous territory. READ MORE

  5. China’s Political Interventions

    Koichi Hamada

Focal Point

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318 pages
318 pages

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