Sep 26, 2012

Hard truths about global growth

The world’s high-income countries are in economic trouble, mostly related to growth and employment, and now their distress is spilling over to developing economies. What factors underlie today’s problems, and how appropriate are the likely policy responses? The first key factor is deleveraging and ...

Aug 28, 2012

Why is government policymaking paralyzed?

It is no secret that the global economy is struggling. Europe is in the midst of a crisis whose root cause is a structurally flawed monetary and economic union. The United States, emerging slowly from a financial crisis and widespread deleveraging, is experiencing a ...

Jun 26, 2012

Clarity in the conflict of austerity versus growth

It seemed clear that Germany (or at least this rather large gathering of government, business, and labor leaders) remains committed to the euro and to deeper European integration, and recognizes that success will require Europe-wide burden-sharing to overcome the ongoing eurozone crisis. The reforms ...

May 28, 2012

Why do economies stop growing?

Over the years, advanced and developing countries have experimented, sometimes deliberately and frequently inadvertently, with a variety of approaches to growth. Unfortunately, many of these strategies have turned out to have built-in limitations or decelerators — what one might call elements of unsustainability. And ...

Apr 26, 2012

Reinventing the Sino-U.S. relationship

China and the United States are in the grip of major structural changes that both dread will end the halcyon era when China produced low-cost goods and the U.S. bought them. In particular, many fear that if these changes lead to direct competition between ...

Nov 25, 2011

Keeping the eurozone intact

As the economist Mario Monti’s new government takes office in Italy, much is at stake — for the country, for Europe and for the global economy. If reforms falter, public finances collapse and anemic growth persists, Italy’s commitment to the euro will diminish as ...

Oct 3, 2011

Greater growth with lower domestic demand

As the American economy continues to sputter three years after the global financial crisis erupted, one thing has become clear: The United States cannot generate higher rates of growth in gross domestic product and employment without a change in the mix of the economy’s ...