Thursday, July 28, 2016
  1. What’s New About Today’s Low Interest Rates?

    Carmen Reinhart

    What’s New About Today’s Low Interest Rates?

    2

     says that financial repression is hardly unprecedented, but that the current policy mix is.

    Newsart for What’s New About Today’s Low Interest Rates? Chris Hondros/Getty Images

    In an era when public debt write-offs are widely viewed as unacceptable and governments are often reluctant to write off private debts, sustained negative real returns are the slow-burn path to reducing debt. Absent a surprise inflation spurt, this will be a long process. READ MORE

  2. The Real Roots of Populism

    Andrés Velasco

    The Real Roots of Populism

    4

     questions the conventional wisdom blaming "neoliberalism" for the rise of menacing political forces.

    Newsart for The Real Roots of Populism Hanquan Chen/Getty Images

    Precisely because populism – whether leftist or rightist – is ugly, menacing, and destructive, its growing strength calls for nuanced explanation. A weak grasp of causes would lead to poorly conceived solutions – at which point populism truly would be unstoppable. READ MORE

  3. A Brief History of (In)equality

    J. Bradford DeLong
  4. The Death of OPEC

    Anas Alhajji

    The Death of OPEC

    1

     explains why Saudi Arabia destroyed the old oil market – and why it has launched a new one.

    Newsart for The Death of OPEC Hans Punz/Stringer

    Saudi Arabia killed OPEC, and there is no reviving it. But, as competition in energy markets shifts from crude to refined products, new opportunities for cooperation are likely to emerge, resulting in a more efficient and resilient global energy market. READ MORE

  5. America’s Exploding Deficit

    Martin Feldstein

    America’s Exploding Deficit

    42

     warns that the cost of the US debt ratio could soar if investors demand higher interest rates.

    Newsart for America’s Exploding Deficit Bloomberg/Getty Images

    Although the US debt-to-GDP ratio doubled in the past decade, the Obama administration and Congress ignored the problem, focusing instead on the annual deficit’s decline since 2012 and the relative stability of the deficit as a share of GDP. But the debt should be a top priority for whoever moves into the White House next year. READ MORE

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