Home » Posts tagged 'project syndicate' (Page 5)
Tag Archives: project syndicate
Hurricanes’ Unnatural Toll
Hector Retamal/Getty Images Hurricanes’ Unnatural Toll Hurricanes Harvey, Irma, and Maria were extraordinarily powerful storms, but the number of lives lost and the amount of damage caused were the result of human decisions. Two elements of human psychology sustain our irrational neglect of preventive measures, even as climate scientists warn that the risk of such […]
Three Scenarios for the Global Economy
Zhang Peng/Getty Images Three Scenarios for the Global Economy The International Monetary Fund, which in recent years had characterized global growth as the “new mediocre,” recently upgraded its World Economic Outlook. But is the IMF right to think that the recent growth spurt will continue over the next few years, or is a temporary cyclical […]
Spain’s Crisis is Europe’s Opportunity
Jorge Guerrero/Getty Images Spain’s Crisis is Europe’s Opportunity The Catalonia crisis is a strong hint from history that Europe needs to develop a new type of sovereignty, one that strengthens cities and regions, dissolves national particularism, and upholds democratic norms. Imagining a pan-European democracy is the prerequisite for imagining a Europe worth saving. ATHENS – […]
The Courage to Normalize Monetary Policy
The Courage to Normalize Monetary Policy A decade after the onset of the global financial crisis, it seems more than appropriate for central bankers to move the levers of policy off their emergency settings. A world in recovery – no matter how anemic it may be – does not require a crisis-like approach to monetary […]
Trump on the Warpath
Trump on the Warpath The US suffers from an arrogance of military power disconnected from today’s geopolitical realities. The US is on this path again, heading for a collision with a nuclear-armed adversary, and it will remain on it unless other countries, other American leaders, and public opinion block the way. NEW YORK – Fifteen […]
The Mystery of the Missing Inflation
The Mystery of the Missing Inflation Since the summer of 2016, the global economy has been in a period of moderate expansion, yet inflation has yet to pick up in the advanced economies. The question that inflation-targeting central banks must confront is straightforward: why? NEW YORK – Since the summer of 2016, the global economy […]
Central Bankers’ Shifting Goalposts
Central Bankers’ Shifting Goalposts BRUSSELS – The theme of this year’s meeting of the world’s central bankers in Jackson Hole, Wyoming, had little to do with monetary policy. “Fostering a Dynamic Global Economy” is, of course, an important topic. But it is telling that the European Central Bank chose, for its own annual gathering, a […]
The Normalization Delusion
The Normalization Delusion LONDON – There is a psychological bias to believe that exceptional events eventually give way to a return to “normal times.” Many economic commentators now focus on prospects for “exit” from nearly a decade of ultra-loose monetary policy, with central banks reducing their balance sheets to “normal” levels and gradually raising interest […]
Europe or Anti-Europe?
Europe or Anti-Europe? MILAN – A knowledgeable friend in Milan recently asked me the following question: “If an outside investor, say, from the United States, wanted to invest a substantial sum in the Italian economy, what would you advise?” I replied that, although there are many opportunities to invest in companies and sectors, the overall […]
Radical Realism About Climate Change
Radical Realism About Climate Change BERLIN – Mainstream politics, by definition, is ill equipped to imagine fundamental change. But last December in Paris, 196 governments agreed on the need to limit global warming to 1.5°C above pre-industrial levels – an objective that holds the promise of delivering precisely such a transformation. Achieving it will require overcoming […]
Toxic Politics Versus Better Economics
Toxic Politics Versus Better Economics NEW YORK – The relationship between politics and economics is changing. Advanced-country politicians are locked in bizarre, often toxic, conflicts, instead of acting on a growing economic consensus about how to escape a protracted period of low and unequal growth. This trend must be reversed, before it structurally cripples the […]
Escaping the New Normal of Weak Growth
Escaping the New Normal of Weak Growth MILAN – There is no question that the recovery from the global recession triggered by the 2008 financial crisis has been unusually lengthy and anemic. Some still expect an upswing in growth. But, eight years after the crisis erupted, what the global economy is experiencing is starting to […]
Toward a More Reflective Planet
Toward a More Reflective Planet CAMBRIDGE – The last time the atmosphere held as much carbon dioxide as it does today was about three million years ago – a time when sea levels were 10-30 meters higher than they are now. Climate models have long struggled to duplicate those large fluctuations in sea levels – […]
A Japanese Ponzi Scheme?
A Japanese Ponzi Scheme? TOKYO – In the early years of the twentieth century, Charles Ponzi, an Italian migrant to North America, had a seemingly brilliant moneymaking idea. He would offer huge returns on worthless investments, thereby convincing a growing number of people to give him their money, which was used, in lieu of profit, […]
