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    Trump’s First Test Will Be the Bond Market

    Jim O'Neill

    Financial markets and official economic indicators over the past few weeks give policymakers around the world plenty to contemplate. Was the recent spike in bond yields a sufficient warning to Donald Trump and his team, or will they still follow through with inflationary stimulus, tariff, and immigration policies?

     wonders if recent market signals will keep the new administration’s radicalism in check.
  2. varoufakis123_China PhotosGetty Images_chinayuandollar China Photos/Getty Images
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    China’s Trump Dilemma

    Yanis Varoufakis

    Will the China hawks in Donald Trump’s administration railroad him into a confrontation that transcends tariffs and embraces financial sanctions of the type the US and the European Union imposed on Russia? If they do, China's leaders will have to decide whether to decouple from the dollar-based international monetary system.

     thinks the real choice facing Chinese leaders may be whether to challenge the dollar's hegemony head-on.
  3. hubbard4_Chen MengtongChina News ServiceVCG via Getty Images_scottbessent Chen Mengtong/China News Service/VCG via Getty Images
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    How the Trump Administration Can Hit Its Growth Target

    Glenn Hubbard urges policymakers to focus on the three pillars of increased productivity.
  4. benami221_Justin SullivanGetty Images_trump Justin Sullivan/Getty Images
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    Trump the Revolutionary Isolationist

    Shlomo Ben-Ami hears echoes of the Monroe Doctrine in the US president's threats to acquire Greenland.
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    Economists’ Way Out of the Wilderness

    James K. Galbraith argues that the continued dominance of nineteenth-century thinking has resulted in a catalogue of failure.
  6. johnson182_MANDEL NGANAFP via Getty Images_trump Mandel Ngan/AFP via Getty Images
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    The Economic Consequences of Trump 2.0

    Simon Johnson explains why reality is unlikely to come close to matching the US president-elect's rhetoric.
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    Protecting Cultural Heritage in Wartime

    Karel Komárek explains why preservation of museums, monuments, and archives must be a cornerstone of humanitarian response.
  8. lamy10_Badru KatumbaGettyImages_jackfruit_farmer Badru Katumba/Getty Images
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    The Key to Narrowing the Development Gap

    Pascal Lamy, et al. explain how investments in African agri-food systems can advance many of the Sustainable Development Goals.
  9. op_janeway17_Natalya KosarevichGetty Images_moneyhandslightbulb Natalya Kosarevich/Getty Images
    2

    False Economies

    William H. Janeway highlights the high cost of the single-minded focus on efficiency that has come to dominate the discipline.
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  1. China’s Trump Dilemma
    varoufakis123_China PhotosGetty Images_chinayuandollar China Photos/Getty Images

    China’s Trump Dilemma

    Jan 21, 2025 Yanis Varoufakis thinks the real choice facing Chinese leaders may be whether to challenge the dollar's hegemony head-on.

  2. The Key to Narrowing the Development Gap
    lamy10_Badru KatumbaGettyImages_jackfruit_farmer Badru Katumba/Getty Images

    The Key to Narrowing the Development Gap

    Jan 21, 2025 Pascal Lamy, et al. explain how investments in African agri-food systems can advance many of the Sustainable Development Goals.

  3. Economists’ Way Out of the Wilderness
    galbraith39_rudall30Getty Images_businessmanforest rudall30/Getty Images

    Economists’ Way Out of the Wilderness

    Jan 20, 2025 James K. Galbraith argues that the continued dominance of nineteenth-century thinking has resulted in a catalogue of failure.

  4. Trump the Revolutionary Isolationist
    benami221_Justin SullivanGetty Images_trump Justin Sullivan/Getty Images

    Trump the Revolutionary Isolationist

    Jan 20, 2025 Shlomo Ben-Ami hears echoes of the Monroe Doctrine in the US president's threats to acquire Greenland.

  5. How the Trump Administration Can Hit Its Growth Target
    hubbard4_Chen MengtongChina News ServiceVCG via Getty Images_scottbessent Chen Mengtong/China News Service/VCG via Getty Images

    How the Trump Administration Can Hit Its Growth Target

    Jan 20, 2025 Glenn Hubbard urges policymakers to focus on the three pillars of increased productivity.

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OnPoint is our suite of subscriber-exclusive content. Get long-read commentaries, thematic deep dives, interviews with world leaders, and much more. Learn more.  

  1. op_janeway17_Natalya KosarevichGetty Images_moneyhandslightbulb Natalya Kosarevich/Getty Images
    2

    False Economies

    William H. Janeway highlights the high cost of the single-minded focus on efficiency that has come to dominate the discipline.
  2. bq trump institutions Photo by Brendan McDermid-Pool/Getty Images
    4

    Can US Institutions Withstand Trump 2.0?

    Featured in this Big Question

    Daron Acemoglu, Bruce Ackerman, Aziz Huq, Alison L. LaCroix, Richard K. Sherwin

    While some observers doubt that US President-elect Donald Trump poses a grave threat to US democracy, others are bracing themselves for the destruction of the country’s constitutional order. With Trump’s inauguration just around the corner, we asked PS commentators how vulnerable US institutions really are.

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    Ricardo Hausmann on immigration, climate finance, economic complexity, and more

    Ricardo Hausmann urges the US to issue more H1-B visas, argues that Europe must become a military superpower in its own right, applies the “growth diagnostics” framework to Venezuela, and more.
  4. op_goldin3_Timothy HearsumDesign Pics EditorialUniversal Images Group via Getty Images_USmigrantworker Timothy Hearsum/Design Pics Editorial/Universal Images Group via Getty Images
    1

    The Truth About Migration

    Ian Goldin warns that stricter border controls often exacerbate the very problems they aim to solve.
  5. stiglitz343_ChipSomodevillaGettyImages_trump_goofy Chip Somodevilla/Getty Images
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    What Will Trump Do to the US Economy?

    Featured in this Big Picture

    PS editors , Joseph E. Stiglitz , Kenneth Rogoff , Sylvester Eijffinger , Edin Mujagic , Nouriel Roubini , Simon Johnson

    From cutting taxes to raising tariffs to eroding central-bank independence, US President-elect Donald Trump has made a wide range of economic promises, many of which threaten to blow up the deficit and fuel inflation. But powerful institutional, political, and economic constraints, together with Trump’s capriciousness, have spurred disagreement about how worried we should be.

  6. cferguson3_Getty Images Getty Images
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    Our AI Near-Future

    Charles Ferguson offers a brief roadmap of how the technology will evolve and be deployed over the next few years.

The world’s diplomatic, political, and economic divisions continue to harden – both between countries and within them. Whereas 2022 and 2023 featured a war of attrition in Ukraine, we have since entered a broader world of attrition, with zero-sum conflicts multiplying across the board.

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Sustainability Now brings together leading voices in all of the domains involved in combating climate change, each addressing specific facets of the challenge.

Sustainability Now is brought to you in part by:

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  1. wagner31_Westend61Getty Images_climatependulum Westend61/Getty Images
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    The Climate Policy Pendulum

    Gernot Wagner notes that green technologies retain their many advantages, regardless of national political developments.
  2. barral1_CARL DE SOUZAAFP via Getty Images_brazilsolarpower Carl de Souza/AFP via Getty Images
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    What Climate Justice Means for Latin America and the Caribbean

    Thiago Barral & Woochong Um urge policymakers to work with key stakeholders to accelerate the uptake of renewables.
  3. usrof1_Robert AlexanderGetty Images_clouds Robert Alexander/Getty Images
    Free to read
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    Ban Solar Geoengineering

    Mohammed Usrof, et al. predict that the controversial technology will foist upon young people yet another crisis they did not create.

Opinion that Moves

  1. Yanis Varoufakis China’s Trump Dilemma
  2. James K. Galbraith Economists’ Way Out of the Wilderness
  3. Glenn Hubbard How the Trump Administration Can Hit Its Growth Target
  4. Jim O'Neill Trump’s First Test Will Be the Bond Market

  1. Shlomo Ben-Ami Trump the Revolutionary Isolationist
  2. Angela Huyue Zhang The TikTok Boomerang
  3. Michael R. Strain Could High-Skill Immigration Increase Under Trump?
  4. Eric Posner What Happened to International Law?

  1. Pascal Lamy, et al. The Key to Narrowing the Development Gap
  2. Gordon Brown, et al. School Meals Provide Food for Thought – and Fuel for Development
  3. Angela Bandemehr, et al. Revealing an Invisible Health Threat
  4. Kweilin Ellingrud, et al. Subsistence Is Not Enough

  1. Maya Delaney, et al. Turning the Financial Tide for Small Island States
  2. Terry Lynn Karl A House Gutted by Fire
  3. Gernot Wagner The Climate Policy Pendulum
  4. Thiago Barral, et al. What Climate Justice Means for Latin America and the Caribbean

  1. Philippe Aghion, et al. What AI Means for Growth and Jobs
  2. Robin Berjon Social Media as It Should Be
  3. Yana Gevorgyan AI Alone Won’t Save the Planet
  4. Sylvain Duranton, et al. Europe’s CEOs Must Speak Up on AI Regulation

  1. Slavoj Žižek Fundamentalist Perverts
  2. Ian Buruma Ukraine’s Existential Culture War
  3. Helen Prejean An Injustice That Biden Can Still Set Right
  4. Peter Singer Australia’s Great Social-Media Experiment

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

  1. Pascal Lamy, et al. The Key to Narrowing the Development Gap
  2. Hippolyte Fofack Trump Can’t Stop De-Dollarization
  3. Adekeye Adebajo What Trump’s Return Means for Africa

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

  1. Katrin Kivi The Case for Press Freedom Just Got Stronger
  2. Geoff Mulgan The Right to Truth
  3. Nishant Lalwani, et al. As Disinformation Thrives, Democracy Dies

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

  1. Brahma Chellaney Will Trump Crack the Mystery of COVID’s Origin?
  2. Antara Haldar COVID’s Lessons Have All Been Forgotten
  3. Gro Harlem Brundtland Recommitting to Pandemic Preparedness