In The News

Angus Deaton’s Nobel Is a Victory for Globalization – And Raises Hard Questions About It

Tim Fernholz October 13, 2015
Economies are built on people’s choices, and the Nobel for economic sciences, the Sverges Riksbank Prize, has been awarded to Angus Deaton for his research in that area. “In a world where we increasingly measure welfare based on what we can consume, Deaton has given policymakers important tools to boost prosperity, particularly in poor countries, while arguing – sometimes controversially – that...

Climate Change Threatens Global Financial Crash

Paul Brown October 12, 2015
Volatile weather patterns, with severe droughts, floods and wildfires increase concern about climate change. The uncertainty contributes to a volatile stock market, and the chairman of the G20 Financial Stability Board warns that a panicked sell-off of stocks for companies reliant on fossil fuels could lead to a financial crash. Mark Carney, also governor of the Bank of England, points out that...

Us Against Them? Why Globalization Doesn't Have to Pit American Workers Against the World's Poor

Jeff Spross October 9, 2015
Global poverty is in decline. The percentage of the world’s population living in extreme poverty is 14 percent, dropping by half since the early 1990s. Yet wages have stagnated in advanced economies like the United States. “The paradox is that both trends have probably been pushed along by the same forces: globalization and international trade,” reports Jeff Spross for the Week. Many workers in...

Thank You for Not Smoking

Heather Wipfli October 7, 2015
The passage of the World Health Organization Framework Convention on Tobacco Control, or FCTC, offers a critical case study of how international law can be harnessed to address public health issues. Heather Wipfli is author of “Global War on Tobacco: Mapping the World's First Public Health Treaty,” and an excerpt of her book was published in Foreign Affairs. With nearly 6 million tobacco-...

Can Modi Harness India’s High-Tech Diaspora?

Rupa Subramanya October 5, 2015
Prime Minister Narendra Modi has sought to use his recent trip to the United States as a platform for encouraging Indian diaspora communities to foster closer economic ties with their home country. With more than 28.5 million Indians living overseas, 4.5 million in the United States alone, the Indian government is trying to make it easier for migrants to send remittances home by treating such...

The Credit Bubble, the Bears and the Central Bankers

Gillian Tett October 2, 2015
Emerging markets are following the pattern of developed economies with stagnant growth. Attempts to stimulate economies may lead to another credit bubble, notes Gillian Tett, adding that “the way that financial flows operate today in, say, Shanghai is almost as mysterious for investors as subprime mortgages were in California a decade ago, and just as dangerously contagious.” Between 2004 and...

Carter Says Russian Airstrikes in Syria Didn't Target ISIS

Richard Sisk October 1, 2015
Efforts by major powers and advanced militaries to control extremism have faltered before – Russia in Afghanistan in the 1980s, the United States after the 2003 invasion of Iraq. Americans and Russians alike resent high-cost interventions that result in horrific casualty counts and demonstrate little progress. Some critics would prefer that the international onlookers choose sides and pass out...