Featured Articles

Anne-Marie Slaughter

The Coming Atlantic Century

PRINCETON – The United States is rising; Europe is stabilizing; and both are moving closer together. That was the principal message earlier …
Mahmoud Mohieldin

Getting Cities Right

WASHINGTON, DC – The developing world is experiencing rapid urbanization, with the number of city dwellers set to reach four billion in 2030…
Hans-Werner Sinn

The Collateral Damage of Europe’s Rescue

MUNICH – The eurozone is now in its sixth year of crisis – and of efforts by the European Central Bank and the international community to en…
Haruhiko Kuroda

India’s Growth Crossroads

MANILA – As the slowdown in the world’s major industrial economies drags on, growth in developing Asia is being affected. A serious burden w…

Russell Pittman

Economist in the Antitrust Division of the U.S. Department of Justice and visiting professor at the New Economic School, Moscow.

Recent comments by Russell Pittman

Clarity about Austerity

A related point is that made by an earlier Nobel laureate, James Meade, in the "burden of the debt" debate: A policy with a given level of fiscal stimulus has a much different long-term impact depending on what the stimulus money is used for. In that light, spending borrowed money on improving infrastructure or strengthening tax enforcement has a lot to recommend it as compared with, say, funding military adventures or propping up unsupportable pension schemes.