The IMF is urging the ECB to implement massive quantitative easing, but such a course of action is unlikely to promote short-term economic growth and would risk creating bigger bubbles in many asset markets.
The next time the United States is compelled to try to rescue and rehabilitate a broken nation, Washington needs to pay as much attention to building free markets as to holding free elections.
Developments in the Middle East and Ukraine show Europe needs to improve its energy policy or face serious economic consequences.
The Treasury and Federal Reserve, afraid of congressional opposition, sought G-7 support for accelerated SIFI designations of capital markets firms.
Complex changes do not bring unalloyed benefits, and rather than adhering to a simplistic infatuation with new riches, we should recognize a number of already obvious complications and ask a number of necessary questions.
Despite an electorate that is increasingly hostile to the European project and the risk that Europe could be drifting towards Japanese-style deflation, European policymakers remain complacent.
Never before has the North Korean economy been so totally dependent on the largesse of a single trade patron as it appears to be today.
The president’s optimistic characterization of the al Qaeda threat in South Asia is increasingly outdated. The terrorist group is regenerating due to a pause in U.S. drone activity and the ongoing withdrawal of U.S. troops.
The U.S. dollar will remain the world's reserve currency because no other major currency offers such liquidity, depth of financial markets, and store of value.
U.S. policy toward Venezuela is not only unjust, it’s foolish.
In what is ostensibly intended as a confidence-building measure, Iran is preparing a ‘comprehensive document’ detailing the extent of its quarter-century-old nuclear effort. But the product won’t come quickly.
Robert Gordon has painted a dark picture of the world’s long-run economic growth prospects. But if the past is any guide, he will likely prove to be far too pessimistic about the human capacity to innovate.
The objective of foreign policy is to secure the defined interests of the United States. It may appear to be easier to succeed at such an endeavor if foreigners like us, but don’t be so sure.
There is one effort in which everybody should wish to see China successful: preservation of the country’s farmland. It has already been reduced to well below the level needed to keep the country self-sufficient in grain production.
Several developments should cause the U.S. Treasury to reverse itself in favor of a smaller International Monetary Fund.
Human emotions and animal spirits are increasingly driving economic outcomes.
The Organization of American States is betraying its essential mission to defend representative democracy.
To overcome its deadly corruption and chaos, Mexico needs to increase its defense spending and freedom-oriented reforms.
A half century worth of experience does not support the thesis that diplomacy with rogue regimes or terrorist groups brings peace. Rather, diplomacy misapplied can be the shortest path to war.
Nixon’s visit to China turned out to be his greatest moment as president. He had brought about a diplomatic revolution that produced the modern diplomatic world.