Capitalism isn't working anymore. Here's how the pandemic could change it forever

2020 Oct 20

Capitalism is in crisis. The pandemic could change it forever, in favor of workers and those in greatest need.


The Coming Equity Shortage

2020 Oct 13

Firms that manage to survive until an effective COVID-19 vaccine is widely available will have a bright future but weak balance sheets. Innovative new private-equity funds, modeled on US special-purpose acquisition companies, could provide much-needed cap


A Stronger Recovery Through Better Accounting

2020 Jul 01

Given that the COVID-19 crisis demands unprecedented levels of stimulus spending, policymakers should use the occasion to adopt a more flexible form...


Preventing an Emerging-Market Meltdown

2020 Jun 11

Emerging markets today account for more than two-fifths of global GDP measured at market exchange rates, and nearly three-fifths after adjusting for differences in purchasing power.


What Should We Be Preparing For?

2020 May 30

In most emerging and developing countries, COVID-19 is causing an economic hurricane. It looks increasingly like a Category 5, but the international community and many national governments prepared for a tropical storm.


The Case for Deeply Negative Interest Rates

2020 May 13

Only monetary policy addresses credit throughout the economy. Until inflation and real interest rates rise from the grave, only a policy of effective deep negative interest rates, backed up by measures to prevent cash hoarding by financial firms, can do t


Argentina Must Not Waste Its Crisis

2019 Oct 26

To explain Argentinas chronic instability and episodic illiquidity, one must look beyond idiosyncratic leaders, temporary external shocks, and specific policy mistakes.


No Country for Poor Men: How Lebanon’s Debt Has Exacerbated Inequality

2019 Oct 13

After Lebanons civil war ended in 1990, it began rapidly expanding the public debt. This debt has exacerbated widening socioeconomic inequalities, now threatening the countrys stability.


Four Collision Courses for the Global Economy

2019 Sep 28

Between US President Donald Trumps zero-sum disputes with China and Iran, UK Prime Minister Boris Johnsons brinkmanship with Parliament and the European Union


$250 Trillion in Debt: the World’s Post-Lehman Legacy

2018 Oct 06

Governments are largely responsible for the borrowing binge, with their debt growing not just nominally...


The Quiet Demise of Austerity

2017 Jul 19

There is no mistaking which side won and why. Austerity is dead


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