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  1. james198_Michael M. SantiagoGetty Images)_ftx Michael M. Santiago/Getty Images

    Faking It, Making It, Losing It

    Harold James

    The spectacular rise and fall of FTX and its founder Sam Bankman-Fried were driven by effective marketing, trickery, and financial speculation. In that, they bear a striking resemblance to the disastrous eighteenth-century experiment that fueled the Mississippi Company bubble and created the template for all future Ponzi schemes.

    draws parallels between the FTX collapse and economist John Law’s infamous eighteenth-century scheme in France.
  2. roach147_SAUL LOEBAFP via Getty Images_bidenxi Saul Loeb/AFP via Getty Images

    A Missed Opportunity in Bali

    Stephen S. Roach

    The summit between US President Joe Biden and his Chinese counterpart, Xi Jinping, was, at best, a public-relations effort to provide a brief respite in the ominous progression of conflict escalation. But there was no substance, no strategy, and no path to de-escalation.

    explains why the Biden-Xi summit yielded little more than lofty rhetoric – and proposes a new approach.
  3. rpersaud18_Marvin Ibo Guengoer - GES SportfotoGetty Images_saudiarabiaworldcup Marvin Ibo Guengoer/GES Sportfoto/Getty Images

    The World Cup Syndrome

    Raj Persaud reflects on the effects that loving the “beautiful game” can have on one’s health and finances.
  4. ahzhang7_ NOEL CELISAFP via Getty Images_chinaprotest Noel Celis/AFP via Getty Images

    No Easy Exit from Zero-COVID

    S. Alex Yang & Angela Huyue Zhang propose a strategy for loosening China's pandemic restrictions without triggering a nationwide health crisis.
  5. davies83_ Peter MacdiarmidGetty Images_bankofengland Peter Macdiarmid/Getty Images

    The Regulators’ Revolt

    Howard Davies traces the rise and fall of the UK government's recent effort to wield the power to rewrite financial rules.
  6. chakrabarti2_eRIC BARADATAFP via Getty Images_worldbank Eric Baradat/AFP via Getty Images

    Rebooting the World Bank

    Suma Chakrabarti & Chris Humphrey outline key reforms that could help the institution regain the trust of developing countries.
  7. fischer199_SAUL LOEBAFP via Getty Images_g20bali Saul Loeb/AFP via Getty Images

    The Birth of a New International Order

    Joschka Fischer sees global great-power relations taking shape around a Sino-American dominated pentarchy.
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    Will Crypto Survive?

    Kenneth Rogoff assesses the strategies regulators could adopt in the aftermath of the FTX debacle.
  9. op_stiglitz6_Anna MoneymakerGetty Images_USabortionprotest Anna Moneymaker/Getty Images

    America's Silent Progressive Majority

    Joseph E. Stiglitz considers what the midterm election results indicate about voters' real priorities.
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Latest

  1. The Birth of a New International Order
    fischer199_SAUL LOEBAFP via Getty Images_g20bali Saul Loeb/AFP via Getty Images

    The Birth of a New International Order

    Nov 29, 2022 Joschka Fischer sees global great-power relations taking shape around a Sino-American dominated pentarchy.

  2. The World Cup Syndrome
    rpersaud18_Marvin Ibo Guengoer - GES SportfotoGetty Images_saudiarabiaworldcup Marvin Ibo Guengoer/GES Sportfoto/Getty Images

    The World Cup Syndrome

    Nov 29, 2022 Raj Persaud reflects on the effects that loving the “beautiful game” can have on one’s health and finances.

  3. Rebooting the World Bank
    chakrabarti2_eRIC BARADATAFP via Getty Images_worldbank Eric Baradat/AFP via Getty Images

    Rebooting the World Bank

    Nov 28, 2022 Suma Chakrabarti & Chris Humphrey outline key reforms that could help the institution regain the trust of developing countries.

  4. No Easy Exit from Zero-COVID
    ahzhang7_ NOEL CELISAFP via Getty Images_chinaprotest Noel Celis/AFP via Getty Images

    No Easy Exit from Zero-COVID

    Nov 28, 2022 S. Alex Yang & Angela Huyue Zhang propose a strategy for loosening China's pandemic restrictions without triggering a nationwide health crisis.

  5. Faking It, Making It, Losing It
    james198_Michael M. SantiagoGetty Images)_ftx Michael M. Santiago/Getty Images

    Faking It, Making It, Losing It

    Nov 28, 2022 Harold James draws parallels between the FTX collapse and economist John Law’s infamous eighteenth-century scheme in France.

Trending

  1. op_stiglitz6_Anna MoneymakerGetty Images_USabortionprotest Anna Moneymaker/Getty Images

    America's Silent Progressive Majority

    Joseph E. Stiglitz considers what the midterm election results indicate about voters' real priorities.
  2. BQ – West Give in to Russia NurPhoto / Contributor via Getty Images

    Will the West Give in to Russia?

    Featured in this Big Question

    Shlomo Ben-Ami, Simon Johnson, Salome Samadashvili, Charles Tannock

    From soaring inflation to a deepening energy crisis, the United States and Europe are facing no shortage of economic challenges, and Russia’s war against Ukraine – and the sanctions imposed in response to it – bears much of the blame. As Russia launches new rounds of missile attacks, we asked PS commentators what the West should be doing for Ukraine – and how likely it is to do it.

  3. op_lyubka1_Sergei ChuzavkovSOPA ImagesLightRocket via Getty Images_ukrainestatue Sergei Chuzavkov/SOPA Images/LightRocket via Getty Images

    A Writer’s War

    Andriy Lyubka interviewed by Kate Tsurkan

    Ukrainians have shown the world that they are determined to reclaim their country's territory and drive out all Russian forces. But does that mean they must drive out Bulgakov and Pushkin, too?

    about Ukraine’s literary front – and volunteering on the military one.
  4. bildt104_Doug MillsPoolGetty Images_semiconductors Doug Mills/Pool/Getty Images

    Thucydides’s Trade Trap

    Featured in this Big Picture

    Dani Rodrik, Pinelopi Koujianou Goldberg, Carl Bildt, Sergei Guriev, Nouriel Roubini

    When it comes to trade policy, the West has lately been embracing the adage, “Keep your friends close.” But will its failure to heed the maxim’s ironic kicker – “and keep your enemies closer” – ultimately hurt their economies, undermine their global standing, and perhaps most important, make war with China more likely?

  5. basu52_Yuichiro Chino_getty Images_figures Yuichiro Chino/Getty Images

    Nouriel Roubini on stagflation, debt distress, financial innovation, and more

    Nouriel Roubini explains why advanced-economy central banks have only bad options, highlights barriers to tackling inequality, predicts that China’s growth slowdown will continue, and more.
  6. op_bgranville_Mike KempIn Pictures via Getty Images_russiasanctions Mike Kemp/In Pictures via Getty Images

    The Sanctions Trap

    Brigitte Granville considers the history of the “economic weapon” and whether it is as effective as many assume.
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  1. owhite5_Oliver Llaneza HesseConstruction PhotographyAvalonGetty Images_coppermine Oliver Llaneza Hesse/Construction Photography/Avalon/Getty Images

    Reimagining Our Global Connections

    Olivia White & Jonathan Woetzel show that retreating from global interconnectedness is both unworkable and unnecessary.
  2. froggatt3_STRINGERAFP via Getty Images_zaporizhzhianuclearukraine Stringer/AFP via Getty Images
    Free to read

    Nuclear Power Is Not the Answer

    Antony Froggatt shares new findings showing that the technology can no longer compete with renewable-energy options.
  3. ogunbiyi3_TONY KARUMBAAFP via Getty Images_electricity grid Amine Landoulsi/Anadolu Agency/Getty Images

    Clean Power Is the First Domino

    Damilola Ogunbiyi, et al. urge world leaders to focus on full electricity-grid decarbonization to unlock climate progress elsewhere.

Opinion that Moves

  1. Suma Chakrabarti, et al. Rebooting the World Bank
  2. Harold James Faking It, Making It, Losing It
  3. Howard Davies The Regulators’ Revolt
  4. Kenneth Rogoff Will Crypto Survive?

  1. Stephen S. Roach A Missed Opportunity in Bali
  2. Timothy Meyer, et al. The Case for Mandating Climate-Risk Disclosure
  3. Jeremy Daum, et al. The Global Ambitions of Chinese Law
  4. Sławomir Sierakowski The Rocket Attack That Wasn’t

  1. S. Alex Yang, et al. No Easy Exit from Zero-COVID
  2. Werner Hoyer, et al. Global Health Is the Best Investment We Can Make
  3. Mariana Mazzucato, et al. The World Is Still Failing at Pandemic Preparedness and Response
  4. Martin Ignacio Díaz Velásquez A Humanitarian Intervention in the War on Drugs

  1. Olivia White, et al. Reimagining Our Global Connections
  2. Naoko Ishii, et al. Make COP27 a Turning Point for Food Systems
  3. Gernot Wagner Who Pays for Climate Change?
  4. Antony Froggatt Nuclear Power Is Not the Answer

  1. Yanis Varoufakis The Techno-Feudal Method to Musk’s Twitter Madness
  2. Anne-Marie Slaughter, et al. Defending Democracies’ Information Infrastructure
  3. Christopher Pissarides, et al. Leveraging Data for the Public Good
  4. Carl Bildt The Great Chips War

  1. Raj Persaud The World Cup Syndrome
  2. Peter Singer Has the FTX Debacle Discredited Effective Altruism?
  3. Julius Maada Bio Africa’s Education Opportunity
  4. Arzu Geybulla Facebook Is Failing Journalists

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

  1. Julius Maada Bio Africa’s Education Opportunity
  2. Hippolyte Fofack Fairer Green Finance
  3. Tony Blair COP27 Is About Africa and Action

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

  1. Arzu Geybulla Facebook Is Failing Journalists
  2. Anne-Marie Slaughter, et al. Defending Democracies’ Information Infrastructure
  3. Alexander Schallenberg, et al. Defending Democracy’s Defenders

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

  1. S. Alex Yang, et al. No Easy Exit from Zero-COVID
  2. Mariana Mazzucato, et al. The World Is Still Failing at Pandemic Preparedness and Response
  3. Ebere Okereke, et al. Making the Most of Africa’s Pandemic Dividend