In The News

Greek Crisis and the Future of the European Union – Part II

Jean-Pierre Lehmann May 7, 2010
Internal divisions can endanger any union more than external threats. Mistrust – a lack of shared basic values or vision – can decimate cooperation, explains Jean-Pierre Lehmann, professor of political economy, in the second article of a two-part series analyzing the Greek debt crisis. Lehmann describes Greece’s immense debt load, the history of corruption, and their effect on the European Union...

Greek Crisis and the Future of the European Union – Part I

Jonathan Fenby May 5, 2010
Membership in the 16-nation euro zone was supposed to boost Europe’s wealth – but the debt crisis in Greece reveals how a weak link in the chain could also risk spreading misery. Deeming Greece, a nation of 10 million, “too big to fail,” EU members scramble to put together a bailout package. Meanwhile, Greeks take to the streets, burning EU flags and protesting austerity measures, with three...

Debt and Unemployment: Is Global Capitalism Responsible? – Part II

David Dapice April 26, 2010
In declaring an end to recession, economists fall into two camps: One side, including economists with the Obama administration, maintains high rates of unemployment are cyclical and jobs will return soon; others contend that the US economy confronts fundamental restructuring, with massive unemployment lingering for years. This two-part YaleGlobal series examines economic debates over debt and...

Debt and Unemployment: Is Global Capitalism Responsible? – Part I

Jeffrey E. Garten April 23, 2010
Global capital markets have been footloose and fancy free since the 1980s, boosted by rapid globalization in transportation, communication and technology industries. Prowling for profits, investors leap boundaries in an instant, manipulating growth, jobs and industries. In this series, two economists explore global capitalism’s growing reach that defies even the world’s greatest economic power....

Beijing Is Key to Creating More U.S. Jobs

C. Fred Bergsten April 22, 2010
By artificially setting the price of its currency, China is robbing the United States of jobs and building up an unprecedented trade surplus. Former Treasury official Bergsten says that currency manipulation is a form of protectionism and the US and global institutions need to respond because it is a problem that affects economies around the world. He calls for a three-pronged strategy: the US...

A Greek Tragedy Haunts the World – Part II

Bruce Stokes March 3, 2010
The financial crisis in Greece is not only reverberating around Europe but is creating a difficult set of circumstances for the US, necessitating closer American involvement, according to journalist Bruce Stokes. The US has long supported European unity but the crisis is distracting Europeans from pressing concerns in Afghanistan and elsewhere, opening a new avenue for Russian meddling, and...

The G-20 and the Future of Capitalism – Part III

Pranab Bardhan April 3, 2009
In the third part of our series on the G-20 and the Future of Capitalism, Berkeley economics professor Pranab Bardhan suggests perhaps much to the chagrin of its naysayers, capitalism is here to stay. But chastened by the crisis, it is likely to take on a much milder form. Financial asset growth will slow; producers rather than traders will resume precedence; and financial regulation will...