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Sovereign finances survived the global recession, just barely in some cases, but now Puerto Rico and Venezuela are insolvent. While the reasons for their plight may differ, there are lessons common to all defaults that investors and citizens should heed.

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  1. velasco120_ MARTIN BERNETTIAFP via Getty Images_gabriel boric MARTIN BERNETTIAFP via Getty Images

    Why Has Chile Embraced the Extremes?

    Andrés Velasco

    Many Chileans are frightened, and others are angry – not least because of the COVID-19 pandemic and the ensuing economic squeeze. But the political failures of the center-left also help to explain why the far right and the far left will contest the second round of the country’s presidential election.

     blames the mistakes of center-left leaders for the polarized nature of the country’s presidential election.
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  2. tyson103_ Erik McGregorLightRocket via Getty Images_USclimateprotest Erik McGregor/LightRocket via Getty Images

    The American Climate Consensus

    Laura Tyson & Lenny Mendonca

    A recent experiment in citizen deliberation shows that Americans from across the political spectrum will tend to align on basic questions about climate change and what to do about it when given the same set of facts. What is needed now is for policymakers to claim this common ground and build on it.

     show that the electorate is more aligned behind green policies than is commonly assumed.
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