http://www.project-syndicate.org/about_us/rss en 12:34:54 20-Mar-2010 webmaster@project-syndicate.org http://www.interglacial.com/rss/about.html http://www.project-syndicate.org/commentary/james21/1 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. http://www.project-syndicate.org/commentary/singer43/1 If the recession cuts deep in the developed nations, many workers will lose their jobs, and families that can no longer keep up with their mortgage payments will lose their homes. All of this causes real suffering, but it pales in comparison to what the global crisis holds in store for the 1.4 billion people living in extreme poverty. http://www.project-syndicate.org/commentary/shiller61/1 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. http://www.project-syndicate.org/commentary/nye64/1 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. http://www.project-syndicate.org/commentary/stiglitz106/1 Even if Barack Obama and other world leaders do everything right, the US and the global economy are in for a difficult period. The question is not only how long the recession will last, but how robust recovery will be when it finally arrives. http://www.project-syndicate.org/commentary/soros39/1 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. http://www.project-syndicate.org/commentary/haass24/1 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. http://www.project-syndicate.org/commentary/roubini9/1 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. http://www.project-syndicate.org/commentary/rogoff50/1 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. http://www.project-syndicate.org/commentary/zoellick1/1 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. http://www.project-syndicate.org/commentary/phelps10/1 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. http://www.project-syndicate.org/commentary/blanchard13/1 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.