The ability of the BRICS countries to develop institutions that support greater economic freedom, with more reliance on market competition and less on government, will likely be the main determinant of their long-term success.
For Michael J. Boskin's latest contributions to The Japan Times, see below:
While no one should expect a return to the pre-crisis boom years, the right government incentives encourage more robust economic growth.
The North American Free Trade Agreement is proof that properly designed free trade agreements spur global growth.
Criticism of policy decisions should not be allowed to curdle into the hateful vitriol that demeans so much public discourse today. Words have consequences and can inflame thuggery or worse.
Europe may have weathered the financial storm, but elected leaders face a daunting task enacting structural reforms of labor markets, pension systems and taxes to restore growth.
When a country like the Netherlands, which built one of the world's most expansive welfare states in the 1960s and '70s, reverses course to reduce welfare dependency and to restore work incentives, it is worth noting.
Tale of two economies: Argentina should learn from its Western neighbor, Chile, and a new administration in Chile should look across the Andes, recognize where its proposals risk taking the country, and change course before it is too late.
The world watches as negotiations commence between the U.S. and the European Union on potentially the largest regional free trade accord in history.
I like Tokyo Tower. I will get used to the Tokyo Sky Tree (public opening due May 22), but for now I feel more for the familiar graceful lines and the more humane proportions of the older tower. It is an architectural icon, and ...
At one end of town there will be a young girl in a polka-dot dress standing some 10 meters tall. At the other, a team of large yellow mice will host a festival complete with portable shrines. Tokyo's Roppongi district is a spectacle at ...