Commentary Topics

Optimize the troubled eurozone

Nov 4, 2014

Optimize the troubled eurozone

by Koichi Hamada

Europe's leaders must recognize that the eurozone, as currently constituted, is larger than Europe's optimal currency area. Some member countries — certainly Greece, and probably Italy and Spain — need an independent monetary policy.

Nov 4, 2014

The six years from 2008 show Keynes was right

by Anatole Kaletsky

The main lesson from all the policy experiments conducted worldwide since the 2008 financial crisis is that government decisions on taxes and public spending have turned out to be more important as drivers of economic activity than the monetary experiments with zero interest rates ...