In The News

Painful Euro Crisis and Lessons for the World – Part I

Jacob Funk Kirkegaard November 16, 2011
The slow-motion crisis of the euro seems to have reached a plateau with the formation of new governments in Greece and Italy. But Europe’s debt crisis is complex with far-reaching implications. In this two-part series, YaleGlobal examines the ramification of the crisis, the reform course Europe must take and the lessons that others can draw from it. In the first part of the series, Jacob Funk...

“Playing Baseball Without a Bat”

Thomas. L. Friedman November 9, 2011
In an interview with YaleGlobal editor Nayan Chanda, Thomas. L. Friedman talks about his book "That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back," co-written with Michael Mandelbaum. He explains the reasons for the slow decline of the United States, especially its failure to adapt to the hyper-connected world it helped to create, four...

The Popular Mandate

Nayan Chanda November 8, 2011
A suggestion by the Greek prime minister for a referendum on a proposed European bailout – negotiated by European leaders to continue lending to Greece while erasing half the nation’s debt –was bashed by financial markets and Western leaders. Analysts anticipated an angry Greek electorate to reject the deal, and the prime minister backed down. "Athens offers a valuable lesson in...

Greeks Seek to Escape Debt Crisis Abroad

Ingrid Melander November 3, 2011
Governments that dawdle in resolving economic crisis – or impose unfair taxes or cuts – could lose their smartest, most skilled citizens. As Greece’s debt crisis rocks the European Union, thousands of young and skilled workers are emigrating, reports Ingrid Melander for Reuters. Nonprofit aid organizations for the Greek diaspora are swamped with aid requests, she adds. Greeks are furious about...

World Will Miss Economic Benefit of 1.8 Billion Young People

Fiona Harvey October 31, 2011
As the population hits the 7 billion mark, the world contemplates the challenges in providing adequate education, jobs and other opportunities for growing numbers of youth. The largest cohort of youth in the world’s history can represent great potential or missed opportunities. A UN report warns that the potential economic benefits of having such a large global population of young people could go...

Look Beyond the Street

Nayan Chanda October 24, 2011
To avoid a day of reckoning, governments should heed, not mock, the complaints emerging from movements that have gained rapid global momentum, contends Nayan Chanda in his regular column for Businessworld. In 2003, protests in 60 nations opposed the impending US invasion of Iraq. The protests did not prevent the costly war, but exposed the war’s flawed rationales. This year, protesters in more...

The Depression: If Only Things Were That Good

David Leonhardt October 14, 2011
In analyzing any economic period, one can focus on wages or employment levels – or delve deeper into a society’s potential, examining education and innovations. David Leonhardt takes the latter approach in comparing the current crisis with the Great Depression, when television, autos, aviation, nylon and other materials were under development. A lack of technological innovations that provide for...