A country with a proud history of trade and commerce is starting to crumble into permanent poverty.
detailsIn Lebanon, the local currency has slumped to a record low, people are losing their jobs and the price of food is skyrocketing. Despite the threat posed by the coronavirus, hundreds are taking to the streets in protest. Julia Neumann reports from Beirut
detailsThe COVID-19 pandemic has brought economies around the world to an abrupt halt and highlighted the fragility of existing global value chains. But demolishing these key drivers of international trade and investment would only make a bad situation worse.
detailsOnly 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
detailsThe fundamental reason is that the coronavirus pandemic has suddenly reduced demand by around 30 percent because we are not driving cars, not going to work, not manufacturing things in most factories, here and in much of the world.
detailsUnlike a hurricane or earthquake, the coronavirus pandemic has caused no damage to physical capital stock. But firm-specific skills have no value when the firm that uses them goes out of business, which is one reason why US productivity...
detailsThe market appears to doubt that the deal will suffice, and royal family dynamics could push the oil crisis into further rounds.
detailsThe broad consensus of the COVID-19 era holds that measures to protect public health imply hard trade-offs with economic growth and political liberty.
detailsAfter the 2008 financial crisis, we learned the hard way what happens when governments flood the economy with unconditional liquidity, rather than laying the foundation for a sustainable and inclusive recovery. Now that an even more severe crisis is under
detailsUS currency is imported into the country but Beiruts international airport is to remain closed until at least 12 April
detailsFor years, the economics profession has suffered from a stubborn reluctance to adopt a more multidisciplinary approach. But now that the COVID-19
detailsTotal U.S. production from all sources will remain the worlds largest no matter how low prices go, leaving Washington (and Texas) with considerable room to help domestic companies and press Riyadh and Moscow on stabilizing prices.
detailsWhile Chinese authorities have been destroying banknotes that have potentially come into contact with the coronavirus, Western countries remain woefully behind not just in their response to the pandemic
detailsBased on Chinas experience with COVID-19, the fiscal cost of comprehensive compensation for lost income could reach 10% of annual GDP, and as much as 25% of GDP in the US and Europe if the epidemic turns out to be worse there, which now looks likely. Thes
detailsThe case for a coordinated and synchronized global fiscal stimulus is becoming stronger by the hour.
detailsThe COVID-19 outbreaks implications for the global economy are highly uncertain but potentially disastrous.
detailsA train wreck is about to occur in the oil market, and there will be casualties. Russia and Saudi Arabia, which previously had cooperated in making the world market well-supplied, no longer can agree on how to share the benefits.
detailsWith politicians proposing policies that would vastly expand the size of the government and its involvement in the economy, it is clear that too many Americans have forgotten the lessons of the twentieth century. As Friedrich Hayek and Milton Friedman poi
detailsEconomic policymakers can no longer afford to view inequality as an issue separate from boosting employment and incomes. Addressing it through a wealth tax, combined with more effective antitrust policies and enforcement, has become essential to sustainin
detailsFinancial institutions must address the issue of technological sustainability, especially with regard to data, robotics, and artificial intelligence.
detailsNot surprisingly, American billionaires have dismissed recent wealth-tax proposals as an affront to the entrepreneurial spirit to which they attribute their massive wealth.
detailsRouhani has taken a remarkably austere fiscal approach ahead of the looming parliamentary election, but the countrys economic situation is still not sustainable over the long run.
detailsWhat kind of capitalism do we want? That may be the defining question of our era. If we want to sustain our economic system for future generations, we must answer it correctly.
detailsWall Street hedge funds and lawyers have turned an arcane procedure of international treaties into a money machine, at the cost of the worlds poorest people.
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