Many Western countries – especially the US, Japan, and Germany – should pursue direct government intervention in wage bargaining, says former Editor in Chief of The Economist Bill Emmott.
Support High-Quality Commentary
For more than 25 years, Project Syndicate has been guided by a simple credo: All people deserve access to a broad range of views by the world's foremost leaders and thinkers on the issues, events, and forces shaping their lives. At a time of unprecedented uncertainty, that mission is more important than ever – and we remain committed to fulfilling it.
But there is no doubt that we, like so many other media organizations nowadays, are under growing strain. If you are in a position to support us, please subscribe now.
As a subscriber, you will enjoy unlimited access to our On Point suite of long reads, book reviews, and insider interviews; Big Picture topical collections; Say More contributor interviews; Opinion Has It podcast features; The Year Ahead magazine, the full PS archive, and much more. You will also directly support our mission of delivering the highest-quality commentary on the world's most pressing issues to as wide an audience as possible.
By helping us to build a truly open world of ideas, every PS subscriber makes a real difference. Thank you.
Many may judge that, in the cases of existing compulsory immunization programs and other health-related regulations, the benefits of government intervention outweigh the costs. If so, one should logically conclude that the same is true of COVID-19 vaccine mandates.
thinks compulsory COVID-19 jabs are justified in light of existing regulatory interventions.
By now, it is passé to warn that the US Federal Reserve is “behind the curve” in fighting inflation. In fact, the Fed is so far behind that it can’t even see the curve and may have to slam on the policy brakes to regain control before it is too late.
warns that America's monetary policymakers are so far behind the inflation curve that they can't even see it.