LONDON – The doctrine of imposing present pain for future benefit has a long history – stretching all the way back to Adam Smith and his pra…
CAMBRIDGE – Several of my Harvard University colleagues have recently been casualties in the crossfire between fiscal “austerians” and fisca…
ISTANBUL – A simplistic (actually, naive) view of markets is that they exist almost in a “state of nature,” and that the best of all worlds …
LONDON – Since the 1970’s, economists have warned that a monetary union could not be sustained without a fiscal union. But the eurozone’s le…
BRUSSELS – The most visible symptom of the crisis in the eurozone has been the high and variable risk premiums that its peripheral countries…
DUBLIN – Europe’s needs and Europeans’ desires are at odds. At a time when strong, coordinated action is needed to stave off financial colla…
PARIS – Controversy is essential to the advancement of science. So the debunking of methodological flaws and a coding error in a paper by th…
CAMBRIDGE – It has been a while since a debate among academic economists attracted so much interest from the mainstream press as has the row…
BERLIN – Just weeks ago, the worst of the financial crisis in Europe seemed to be over. Stability seemed to be returning. But appearances pr…
BERKELEY – A government that does not tax sufficiently to cover its spending will eventually run into all manner of debt-generated trouble. …