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Austerity under Attack
Daniel Gros Series: Euronomics 
2012-02-03As the European economy risks falling into recession, many observers are asking whether austerity could lead to such a sharp decline in economic activity that revenues fall and the fiscal position actually deteriorates further. But it would be dangerous for the eurozone’s highly indebted countries to abandon austerity now.... read Comments: 16 Recommended: 0 Read: 11697
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America’s Three Deficits
Laura Tyson Series: The Growth Imperative
2012-02-02
The US faces painful choices about how to close its long-run fiscal gap, and a credible plan should be decided now and implemented promptly – but only after the economy has recovered. For the next few years, the priorities of fiscal policy should be jobs, investment, and growth.... read Comments: 5 Recommended: 0 Read: 12261
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Coronary Capitalism
Kenneth Rogoff Series: The Unbound Economy
2012-02-01Just as the financial industry caused a near-meltdown of the global economy in 2008, the food industry has facilitated the explosion of obesity around the world. In both cases, the links to broader problems with contemporary Western capitalism have become impossible to ignore.... read Comments: 8 Recommended: 0 Read: 24661
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A Referendum on Obama
Michael Boskin Series: Transatlantic Perspectives
2012-01-31
The 2012 US presidential election will be a referendum on Barack Obama’s policies and performance. A Republican presidential victory, together with Republican control of Congress, would most likely lead to substantial reduction, repeal, and replacement of many Obama initiatives, attempts to reform taxes and entitlements, and greater fiscal discipline.... read Comments: 5 Recommended: 0 Read: 8846
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India’s Year of Living Stagnantly
Jaswant Singh Series: The New Power Game
2012-01-25Last year, India's GDP growth decelerated, manufacturing plummeted, and corruption grew uncontrollably, while the government failed to enact even a single piece of legislation, much less undertake any economic reforms, control inflation, or address widespread civil disorder. Will 2012 prove to be a year of renewal for India, or another annus horribilis?... read Comments: 1 Recommended: 0 Read: 6648
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The Eurozone’s Strategy of Pain
Jean Pisani-Ferry Series: Reuniting Europe
2012-01-25
For the third year in a row, the eurozone is the weakest link in the world economy, with concerns mounting about its very viability. But the eurozone is doubling down on austerity, reasoning that no pain in Southern Europe would mean no gain in reform and adjustment.... read Comments: 3 Recommended: 0 Read: 8984
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The Libertarian and the Lobbyists
Simon Johnson Series: The Hopeful Science
2012-01-23Among the Republican candidates still vying to challenge Barack Obama in November’s US presidential election, Ron Paul stands out for arguing consistently that government is the problem, not the answer, with regard to banking. But the real problem with financial regulation, a new study shows, is lobbying.... read Comments: 5 Recommended: 1 Read: 13943
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Leaderless Global Governance
Dani Rodrik Series: Roads to Prosperity
2012-01-13
Too much global political capital nowadays is wasted on harmonizing policies that don't need it, and not enough is spent on harmonizing those that do. Over-ambitious and misdirected efforts at global governance will not serve us well at a time when global leadership and cooperation are bound to remain in limited supply.... read Comments: 6 Recommended: 0 Read: 18399
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Mind over Market
Michael Spence Series: The New Wealth of Nations
2012-01-13Most societies have important economic and other objectives that markets and competition are not designed to achieve. In today’s rapidly globalizing world, the most important of these objectives – expressed in various ways through the political and policymaking process in a wide range of countries – are stability, distributional equity, and sustainability.... read Comments: 6 Recommended: 2 Read: 18958
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Can Italy Be Saved?
Michael Spence Series: The New Wealth of Nations
2011-11-21
As the economist Mario Monti assembles Italy’s next government, much is at stake for the country, for Europe, and for the global economy. Only bold commitments by both the EU and Italy can prevent an extremely bad outcome – and ensure a relatively favorable one.... read Comments: 4 Recommended: 1 Read: 14675
