In The News

Jobless America Threatens to Bring Us All Down With It

Jeremy Warner October 15, 2010
The coordinated attempt to rescue economies of developed nations – pumping billions of dollars of stimulus funds into banks and public-works projects – did not resolve the structural problems caused by massive imbalances. As unemployment, housing foreclosures and credit difficulties continue to mar the economic outlook, international cooperation for economic troubles has vanished, contends Jeremy...

India-Ohio Outsourcing Ban

Rupa Chanda October 8, 2010
As US job creation remains stymied, governments at all levels enact protectionist measures. For example, the US has hiked fees for H1B visas for foreign professional workers, and with an unemployment rate exceeding 10 percent, the state of Ohio has banned outsourcing of IT or back-office work in government-funded projects, reports the East Asia Forum. Firms in India that bristle about such...

Why the Financial Crisis and What Is the Way Out

Carmen Reinhart October 7, 2010
In an interview with Nayan Chanda, Professor Carmen Reinhart, co-author of This Time Is Different: Eight Centuries of Financial Folly, discusses the causes behind the current financial crisis and the measures needed to recover and grow. – YaleGlobal

Steps Out of the Global Development Crisis

Jens Martens September 20, 2010
As world leaders gather in New York to review the progress of the Millennium Development Goals set a decade ago, the enormity of the task ahead is clear. As the economic crisis spread across the globe, the government quickly adopted stimulus packages to stave off collapse. The fixes were temporary, though, failing to address immense structural challenges of trade imbalances, wage inequality and...

Another New World Order

Kevin Lynch September 17, 2010
This century’s diverse series of threats – from the Y2K computer glitch to terrorist attacks, war, financial meltdowns and environmental degradation – have both raised expectations and eroded faith in government leadership, observes Kevin Lynch for the Globe & Mail. He lists four structural trends driving a new world order: globalization, demographics, the information revolution and climate...

The Presidency, Chained to the World

Matt Bai September 14, 2010
The US has plenty of problems at home, including high unemployment, a deteriorating infrastructure and a voter base polarized over basics like health care, financial regulation and energy needs. But pressing crises from all parts of the globe repeatedly demand attention and take priority. “[P]owerlessness in the face of economic free fall has emerged as a hallmark of the modern presidency,”...

Light Bulb Factory Closes; End of Era for US Means More Jobs Overseas

Peter Whoriskey September 10, 2010
The original light bulb has a long history with many nations and patents – starting with an English chemist in 1809 and perfected over the years by Scottish, German, American and Russian scientists – before Thomas Edison purchased some patents and devised the long-lasting filaments in 1879 and 1880. His name is associated forever with light bulbs. The last major GE factory making traditional...