We use cookies to improve your experience on our website. To find out more, read our updated Cookie policy, Privacy policy and Terms & Conditions
The Arab world has witnessed at least one big Brexit-like event every decade since 1948 – and these political, economic, and social ruptures never seem to heal. The impact of these self-inflicted disasters is now painfully evident, and ongoing street protests in several countries suggest that a moment of reckoning may have arrived.
The old central-bank playbook of slashing interest rates to spur consumption, investment, and employment has become less effective since the 2008 financial crisis. Yet without effective tools and the public's confidence, central banks will be unable to rise to the occasion when the next recession arrives.
French President Emmanuel Macron has drawn criticism for describing NATO as brain dead and pursuing a rapprochement with Russian President Vladimir Putin. But now that a wayward America could abandon the continent at any moment, Macron's argument for European defense autonomy is difficult to refute.
COPENHAGEN – When it comes to global warming, extreme scare stories abound. Al Gore, for example, famously claimed that a whopping six meters (20 feet) of sea-level rise would flood major cities around the world.
Gore’s scientific advisor, Jim Hansen from NASA, has even topped his protégé. Hansen suggests that there will eventually be sea-level rises of 24 meters (80 feet), with a six-meter rise happening just this century. Little wonder that fellow environmentalist Bill McKibben states that “we are engaging in a reckless drive-by drowning of much of the rest of the planet and much of the rest of creation.”
Given all the warnings, here is a slightly inconvenient truth: over the past two years, the global sea level hasn’t increased. It has slightly decreased . Since 1992, satellites orbiting the planet have measured the global sea level every 10 days with an amazing degree of accuracy – 3-4 millimeters (0.2 inches). For two years, sea levels have declined. (All of the data are available at sealevel.colorado.edu.)
We hope you're enjoying Project Syndicate.
To continue reading, subscribe now.
Subscribe
Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.
Already have an account or want to create one to read two commentaries for free? Log in