Year End Series
Special 2008 Year End Series.
...read more
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2008-12-01
| In the maelstrom of events and news that characterize the current global crisis, it is often difficult to keep a clear head and a sense of what is really going on. But when one takes a step back from the market turmoil, the picture becomes clearer, and so do the required policies.... read |
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2008-12-01
| Iran and its nuclear program may well constitute the Obama administration’s first foreign policy crisis, because it is possible that Iran will reject any diplomatic compromise. In that case, the US would have to decide whether to live with a nuclear Iran or attack it – the worst sort of choice, because both options carry high risks and costs.... read |
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2008-12-01
| Whereas previous economic transitions transformed first agriculture and then industry, 2008 marks a similar transition for the financial sector. With the financial sector set to shed labor in 2009, we may well find that, as with agriculture and industry, slimmed-down finance turns out to be better finance.... read |
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2008-12-01
| In the first half of 2008, Russia was on top of the world, as record-high oil prices boosted revenues and the country racked up one international success after another - in hockey, soccer, the Eurovision Song Contest, and the battle to host the 2014 Winter Olympics. Unfortunately for Russia, 2008 had two halves.... read |
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2008-12-01
| The coming year will be a narrative of tension – a series of difficult choices between the imperatives of the present and those of tomorrow. Fortunately, the pendulum of history is swinging back toward the United Nations and collective action.... read |
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2008-12-01
| Barack Obama must set his own foreign-policy priorities, in addition to dealing with the unenviable legacy of the Bush administration's strategy of preemptive war and coercive democratization. But Obama’s most important priority must be to show that America is back in the business of exporting hope rather than fear.... read |
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2008-12-01
| In view the current financial crisis, it is fair to ask whether the benefits of capitalism, if any, exceed the costs. For anyone who values innovation and shuns dull, tedious, or onerous work in favor of stimulating, engaging, and mind-expanding work, the answer remains yes.... read |
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2008-12-01
| The dollar and yen have soared in recent months, as global investors seek a safe haven, while the euro has fallen back to Earth and emerging-market and commodity countries have been hammered. But, over the long term, those trends will inevitably reverse, as globalization and economic convergence resume.... read |
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2008-12-01
| Global financial markets in 2008 experienced their worst crisis since the Great Depression of the 1930’s, and 2009 will be another painful year of global recession and further financial stresses, losses, and bankruptcies. Only aggressive, coordinated, and effective policy actions by advanced and emerging-market countries can ensure that the global economy recovers in 2010 rather than entering a more protracted period of economic stagnation.... read |
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The Great Real Estate Bust of 2008
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Robert J. Shiller 
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The boom that preceded the bust in 2008 in the world’s housing markets was caused by the faulty idea that investments in homes are a sure route to wealth. But people's belief can suddenly be disrupted if plainly visible events contradict it, and 2009 will shape up as a year of even more profound disenchantment.... read
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2008-12-01
| NEW YORK – We are in the midst of the worst financial crisis since the 1930’s. The salient feature of the crisis is that it was not caused by some external shock like OPEC raising the price of oil. It was generated by the financial system itself. ... read |
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2008-12-01
| While today’s crises reflect the lightning speed of an interconnected world, globalization also offers great opportunities to overcome poverty, increase opportunity, and create open societies. But only with a new multilateralism can we expand the availability of these opportunities to all.... read |
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2008-12-01
| While today’s crises reflect the lightning speed of an interconnected world, globalization also offers great opportunities to overcome poverty, increase opportunity, and create open societies. But only with a new multilateralism can we expand the availability of these opportunities to all.... read |
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2008-12-01
| In the first half of 2008, Russia was on top of the world, as record-high oil prices boosted revenues and the country racked up one international success after another - in hockey, soccer, the Eurovision Song Contest, and the battle to host the 2014 Winter Olympics. Unfortunately for Russia, 2008 had two halves.... read |
-
2008-12-01
| The boom that preceded the bust in 2008 in the world’s housing markets was caused by the faulty idea that investments in homes are a sure route to wealth. But people's belief can suddenly be disrupted if plainly visible events contradict it, and 2009 will shape up as a year of even more profound disenchantment.... read |
-
2008-12-01
| Global financial markets in 2008 experienced their worst crisis since the Great Depression of the 1930’s, and 2009 will be another painful year of global recession and further financial stresses, losses, and bankruptcies. Only aggressive, coordinated, and effective policy actions by advanced and emerging-market countries can ensure that the global economy recovers in 2010 rather than entering a more protracted period of economic stagnation.... read |
-
2008-12-01
| The dollar and yen have soared in recent months, as global investors seek a safe haven, while the euro has fallen back to Earth and emerging-market and commodity countries have been hammered. But, over the long term, those trends will inevitably reverse, as globalization and economic convergence resume.... read |
-
2008-12-01
| Iran and its nuclear program may well constitute the Obama administration’s first foreign policy crisis, because it is possible that Iran will reject any diplomatic compromise. In that case, the US would have to decide whether to live with a nuclear Iran or attack it – the worst sort of choice, because both options carry high risks and costs.... read |
-
2008-12-01
| The coming year will be a narrative of tension – a series of difficult choices between the imperatives of the present and those of tomorrow. Fortunately, the pendulum of history is swinging back toward the United Nations and collective action.... read |
