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  1. eichengreen154_Mark HarringtonNewsday RM via Getty Images_offshorewindfarm Mark Harrington/Newsday RM via Getty Images

    The Logic of Effective Climate Action

    Barry Eichengreen

    The starting point for addressing climate change, economists agree, is a tax on carbon. But while the resulting reduction in emissions would benefit virtually everyone on the planet, those who bear a disproportionate share of the costs will mobilize in opposition – that is, unless they are given a reason not to.

    argues that the best way to overcome organized resistance to a carbon tax is to buy it off.
  2. emmott36_CostfotoBarcroft Media via Getty Images_vaccine china Costfoto/Barcroft Media via Getty Images

    Herd Immunity Is Closer Than You Think

    Bill Emmott

    With new variants emerging rapidly and new outbreaks in places that had seemed to have the virus under control, COVID-19 remains a global problem. But the recent sharp increase in vaccine supplies indicates that the global solution we need is well within reach.

    shows that the world is on track to immunize 80% of all adults against COVID-19 by as early as January 2022.
  3. Back to Health: Making Up for Lost Time

    Back to Health: Making Up for Lost Time

    The COVID-19 crisis has laid bare systemic inequities that will have to be addressed if we are ever going to build more sustainable, resilient, and inclusive societies. Join us on June 23, 2021, for our latest live virtual event, Back to Health: Making Up for Lost Time, where leading experts will examine the immediate legacy of the pandemic and explore solutions for bringing all communities and societies back to health.




op_eichengreen2_Evening StandardGetty Images_nixonschock Evening Standard/Getty Images

The Big Float

Barry Eichengreen

Fifty years ago this August, President Richard Nixon ended the era when the dollar was firmly anchored to gold at a fixed price, auguring a new era of floating exchange rates. So, why does the greenback continue to reign over the international monetary and financial system?

dissects two recent books on the international monetary system since the US abandoned the gold standard in 1971.
China old people Sheldon Cooper/SOPA Images/LightRocket via Getty Images

China’s Population Bust

Featured in this Big Picture
  1. Zhang Jun Zhang Jun ,
  2. Shang-Jin Wei Shang-Jin Wei ,
  3. Nancy Qian Nancy Qian ,
  4. Adair Turner Adair Turner ,
  5. Frank Götmark Frank Götmark ,
  6. Robin Maynard Robin Maynard

Recently published census data showing that the world’s most populous country is aging rapidly and becoming less fertile have alarmed the government. But further relaxing China’s family-planning policy may not have the desired effect, and could even prove counterproductive.

Biden Europe Tour Olivier Douliery/AFP via Getty Images

Biden’s Grand Tour

Featured in this Big Picture
  1. Melvyn B. Krauss,
  2. Charles A. Kupchan,
  3. Ana Palacio,
  4. Simone Tagliapietra,
  5. Joseph S. Nye, Jr.,
  6. Anne O. Krueger,
  7. Joschka Fischer

His first visit to Europe since taking office gives US President Joe Biden an opportunity to exorcise the toxic legacy of Donald Trump’s America First nationalism and isolationism. But will he succeed in promoting multilateral cooperation on global challenges while also forging a robust Western stance toward China?

rio jab Mario Tama/Getty Images

Speed the Jab

Featured in this Big Picture
  1. Joseph E. Stiglitz,
  2. Lori Wallach,
  3. Jayati Ghosh,
  4. Pinelopi Koujianou Goldberg,
  5. Michele Goodwin,
  6. Gregory Shaffer,
  7. Michael Spence,
  8. Heidi J. Larson

Even as many rich countries free themselves from the pandemic’s grip, COVID-19 cases and deaths are surging in several regions, enabling dangerous new variants to emerge. Only universal immunization can end the cycle of misery – but achieving it will require more than a temporary waiver of vaccine manufacturers’ intellectual-property rights.




Opinion that Moves

Sunrise Johannesburg Africa BFG Images/Getty Images

The African Century

Africa’s economic rise is a world-changing development, but the sources of its emerging strength – and lingering weaknesses – are little understood. W…

Press Released1

Press Released

Today’s media landscape is littered with landmines: open hostility from illiberal and autocratic regimes, mounting censorship in countries such as Hungary, Turkey,…

covid_19_GettyImages_1209209421 Chung Sung-Jun/Getty Images

The COVID-19 Crisis

As the COVID-19 crisis escalates, PS commentators assess its implications for the economy, propose policy responses, and consider what might – and sho…