In The News

The Gated Globe

Greg Ip October 17, 2013
After the 2008 global economic crisis, leaders vowed to avoid protectionism, but they also took steps to avoid globalization’s negatives. “After two decades in which people, capital and goods were moving ever more freely across borders, walls have been going up, albeit ones with gates,” writes Greg Ip in a series for the Economist. “Governments increasingly pick and choose whom they trade with,...

Dollar, Default and Bretton Woods III

Mike Dolan October 17, 2013
The US Congress ended its impasse over lifting its debt ceiling, proceeding to pay bills and end the partial government shutdown. The uproar over what should be routine business will have repercussions: “a new world financial order may be emerging – but one possibly more dependent than ever on the United States protecting the dollar's position as dominant reserve currency,” writes Mike Dolan...

Shutting Down US Antarctic Research Will Have Global Repercussions

Jeffrey Marlow October 16, 2013
Failing to reach agreement on spending, US legislators closed non-essential government services. The designation reduces employee morale and threatens US contributions to trade, health and scientific endeavors, including Antarctic research. Because of the shutdown, the US National Science Foundation put the program in caretaker status. “The logistical ordeal of transporting people and supplies to...

US Debt Standoff Provokes Ire in China

Simon Rabinovitch October 14, 2013
The threat of US debt default is bolstering China’s desire to lessen the world’s reliance on the dollar, reports Simon Rabinovitch for the Financial Times. Chinese officials and analysts are angry and incredulous about US budget shenanigans, but so far are avoiding public comment or drastic moves. “With $1.3tn invested in US Treasuries, any sudden move to sell those holdings would by itself shake...

Reform and Rebalance

Nayan Chanda October 9, 2013
The US Federal Reserve Board decides monetary policy that influences interest rates at home and overseas. Since the 2007 credit crisis, the Federal Reserve has purchased bonds to inject money into the economy – a policy that lowered interest rates and prompted investors to hunt for higher returns overseas. With slow improvement in the economy, many investors began thinking about returning to US...

Our Democracy Is at Stake

Thomas L. Friedman October 4, 2013
A Republican plan to approve parts of the US budget piecemeal, starting with the popular national parks, would allow a small minority to control spending and end health care, education or other programs favored by Democrats. Thomas Friedman, of the New York Times, argues that “the future of how we govern ourselves is at stake.” He points to structural changes in US politics, including political...

How the Wealthy Keep Themselves on Top

Tim Harford August 20, 2013
Inequality is pronounced and widening, particularly in the United States and the United Kingdom, but also Australia and Canada. People tend to care more about inequality during times of economic crisis, suggests Tim Harford. “The uncomfortable truth is that market forces – that is, the result of freely agreed contracts – are probably behind much of the rise in inequality,” he writes for the...