In The News

Project Syndicate: The Risk of a New Economic Non-Order

Mohamed A. El-Erian September 19, 2017
The current global economic order is under strain, and the World Bank and the International Monetary Fund could pursue reforms and take steps to adjust to new economic realities, preventing disintegration and disorder, argues Mohamed A. El-Erian for Project Syndicate. The current order is rooted in “an economic paradigm that aimed to promote win-win interactions among countries, emphasizing trade...

The Cairo Review of Global Affairs: The Case for Open Markets

Dany Bahar September 6, 2017
In the aftermath of Brexit and Donald J. Trump’s presidential ascension, a world that embraced globalization and free trade is turning its back on economic and political principles established after the Second World War. Dany Bahar, writing for the Cairo Review of Global Affairs, prefaces his advocacy for more global trade by arguing that protectionism – a policy championed by Trump to revive the...

Reuters: Globalization's Castaways Haunt Central Bankers

Jonathan Spicer and Howard Schneider August 24, 2017
Central bankers insist that open borders and free trade contribute to national and individual prosperity. Yet at the US Federal Reserve research conference in Jackson Hole, Wyoming, bankers and economists acknowledge a challenge for the elderly, the poor, the uneducated, and the workers who lose their jobs due to technological advances and competition within their own country or beyond – anyone...

Financial Times: France Pushes for Top Posts in Eurozone Reshuffle

Arthur Beesley and Jim Brunsden August 14, 2017
Under Emmanuel Macron’s new government, France is aggressively seeking to influence eurozone policy by gunning for two top positions in the Eurogroup as well as pushing to create another one. The Eurogroup refers to informal gatherings for finance ministers of the 19 eurozone countries who attempt to ensure close coordination and integration of economic policies. The pro-EU Macron is “push[ing]...

Bloomberg: Japan Buries Cherished Economic Ideas

Noah Smith August 9, 2017
Japan’s economy defies traditional economic theories. High debt and full employment have not led to inflation; the Bank of Japan is resigned that policies won’t achieve a 2 percent inflation target. “Basic econ theory says that as the labor market gets tighter, competition should push up wages, which will then boost consumer prices via increased demand and higher costs,” writes Noah Smith for...

Global Finance: Trade Winds Shifting

Jonathan Gregson August 5, 2017
After years of stagnation, international trade growth is anticipated at 4 percent this year. “Many factors could explain what appears to be a secular decline in global trade: lower levels of business confidence and investment; demand cycles and their impact on commodity prices; the maturing of global value chains, which have in turn triggered structural changes in the composition of cross-border...

FiveThirtyEight: US Ban on Travel to Cuba Might Actually Help Cuba’s Economy

Andrea Jones-Rooy August 4, 2017
In June, President Donald Trump enacted a series of policies indicating a tougher attitude toward the Communist government in Cuba, including Treasury Department audits of travelers to Cuba. Critics suggest such policies could harm the island nation’s economy. The financial reality is more complicated, argues Andrea Jones-Rooy for FiveThirtyEight. “Because the resorts are often financed by...