The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
墨西哥城—健康的人口既是经济增长和发展的原因,也是结果。但今天要实现这两个目标,需要政策制定者离开他们的舒适区。具体而言,新一代全球危机——包括流行病、气候变化和日益严重的饥饿——要求从根本上重新思考财政部长的角色。
我们应该知道。作为前财政部长,我们认为宏观经济政策现在需要职能部委更多的参与。特别是,财政部长必须能够更好地评估公共卫生风险的潜在经济影响,引入改善健康结果的税收,以及通过超越短期公共财政考虑的预算和监管决策。如果不这样做,将意味着对下一次健康和经济危机毫无准备。
新冠大流行的毁灭性经济后果表明,为什么财政部长必须预测他们对全球健康风险的反应。预计到 2024 年,这场大流行将导致超过 1500 万人死亡,使全球经济损失超过 12 万亿美元GDP。在几年前还无法想象的封锁导致超过 15 亿学生受到学校和大学停课,这意味着一代儿童和年轻人,尤其是那些无法有效在家上学的儿童和年轻人,遭到严重的长期后果。
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