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President Trump Appoints VP Pence As Coronavirus Czar, Stocks Slide

February 26, 2020

President Trump Appoints VP Pence As Coronavirus Czar, Stocks Slide Update (1845): In his long-awaited press conference, President Trump defended the White House’s response to the coronavirus outbreak, insisted that he would accept whatever amount of crisis-response funds approved by Congress and appointed VP Mike to be his “Coronavirus Czar”. In the middle of Trump’s presser, […]

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The Missing Ingredients of Growth

January 19, 2018

The Missing Ingredients of Growth Several positive macroeconomic trends suggest that the global economy could finally be in a position to achieve sustained and inclusive growth. But whether that happens will depend on whether governments can muster a more forceful response to changing economic and technological conditions. MILAN/NEW YORK – Most of the global economy […]

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The Global Economy in 2018

December 22, 2017

Getty Images   The Global Economy in 2018 The global economy will confront serious challenges in the months and years ahead, and looming in the background is a mountain of debt that makes markets nervous – and that thus increases the system’s vulnerability to destabilizing shocks. Yet the baseline scenario seems to be one of […]

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Europe or Anti-Europe?

March 5, 2017

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 […]

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Escaping the New Normal of Weak Growth

October 1, 2016

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 […]

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Economics in a Time of Political Instability

March 23, 2016

Economics in a Time of Political Instability MILAN/STANFORD – Over the last 35 years, Western democracies have seen a rapid rise in political instability, characterized by frequent shifts in governing parties and their programs and philosophies, driven at least partly by economic transformation and hardship. The question now is how to improve economic performance at […]

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The Fed’s Risk to Emerging Economies

December 21, 2015

The Fed’s Risk to Emerging Economies MILAN – The US Federal Reserve has finally, after almost a decade of steadfast adherence to very low interest rates, hiked its federal funds rate – the rate from which all other interest rates in the economy take their cue – by 25 basis points. That brings the new rate up […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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