GLOBAL FINANCE
The Hopeful Science
Simon Johnson
Under what conditions do entrepreneurship and innovation thrive? How can developing countries shield themselves from negative shocks – and how can developed economies defend themselves from their own financial sectors’ shocking excesses? What do successful emerging markets have in common?
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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: 13956
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Austerity and the Modern Banker
Simon Johnson Series: The Hopeful Science 2011-12-20
Big banks represent the ultimate in concentrated economic power in today’s economies: their executives want to get all the upside while facing none of the true downside. But capitalism without the prospect of failure is not any kind of market economy.... read Comments: 4 Recommended: 0 Read: 18105
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Does Europe Have a Korean Option?
Simon Johnson Series: The Hopeful Science 2011-11-23The eurozone could learn from the experience of Korea, which came through its crisis in the late 1990's more quickly than anyone expected, combining sensible reforms with a rapid recovery. The key was a large depreciation of the currency, the won – just as depreciation of the euro seems to be one likely way that the eurozone will turn the corner.... read Comments: 7 Recommended: 0 Read: 19219
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Occupy the Mortgage Lenders
Simon Johnson Series: The Hopeful Science 2011-10-20
If the Occupy Wall Street movement tells us nothing else, it is that the last thing the US economy needs is more households overwhelmed by debt. That is why US banks should embrace a plan to restructure home mortgages – a quarter of which are worth more than the value of the underlying properties.... read Comments: 7 Recommended: 0 Read: 20129
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Who Will Eclipse America?
Simon Johnson Series: The Hopeful Science 2011-09-19A few years ago, some regarded Japan as having overtaken the US, and Europe, too, was supposedly vying for global economic dominance. Now it's China's turn – and it suffers from the same vulnerabilities that have stymied Europe and Japan.... read Comments: 10 Recommended: 0 Read: 17685
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The Tea Party’s Modest Proposal
Simon Johnson Series: The Hopeful Science 2011-08-12
Jonathan Swift once wrote that, “Party is the madness of many, for the gain of the few.” That sums up America's Tea Party faction of the Republican Party, which has shown that it is willing to impose dramatic costs on the US economy and to ensure significantly slower growth.... read Comments: 26 Recommended: 0 Read: 33767
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Defaulting to Big Government
Simon Johnson Series: The Hopeful Science 2011-07-18Opponents of raising the US debt ceiling argue that the federal government is too big relative to the economy, and that drastic measures are needed to bring it under control. But the consequences of any default would, ironically, actually increase the size of government relative to the US economy.... read Comments: 1 Recommended: 2 Read: 22891
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Europe’s Naked Banks
Simon Johnson Series: The Hopeful Science
2011-06-24
European leaders are convinced that bank capital is “expensive,” in the sense that raising capital requirements would slow economic growth. But the latest developments in the Greek crisis show that the exact opposite is true – it’s European banks’ lack of capital that threatens to derail European and global growth.... read Comments: 0 Recommended: 1 Read: 23638
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Will The US Have A “Debt Crisis”?
Simon Johnson Series: The Hopeful Science
2011-05-17John Boehner, Speaker of the US House of Representatives, is leading the Republican Party’s charge on fiscal policy, arguing that his side needs to see “trillions of dollars” in spending cuts in order for Congress to approve an increase in the US government’s debt ceiling. No one should believe him.... read Comments: 4 Recommended: 1 Read: 20684
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