America’s Third Reconstruction
Opinions

America’s Third Reconstruction

Jeffrey D. Sachs, NEW YORK – America is two cultures in one nation. The first culture brought slavery, the genocide of Native Americans, “Jim Crow” laws enforcing white supremacy, and former President Donald Trump’s bullying, lying, and cruelty, which culminated in the January 6 insurrection at the Capitol. The second culture brought emancipation, the civil […]

The New Measure of Corporate Success
Opinions

The New Measure of Corporate Success

Michel Fredeau and Jules Kortenhorst, BOSTON – For decades, global leaders have failed to respond to climate change with appropriate urgency, even though the science has long been clear. Now, the problem has become so acute that it is impossible to ignore, and those in positions of power are under growing pressure to start making […]

Is Bitcoin Good for Business?
Opinions

Is Bitcoin Good for Business?

Willem H. Buiter NEW YORK – In a recent commentary for the Financial Times, economist Dambisa Moyo makes a case for why business leaders should invest in Bitcoin. Her three main arguments are that Bitcoin is a way to mitigate company risk; cryptocurrencies can provide possible solutions for doing business in emerging economies, and digital currencies augur an exciting new […]

Bangladesh at 50
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Bangladesh at 50

Kaushik Basu, ITHACA – It feels strange to have known a country since its birth. For much of 1971, Bangladesh (then East Pakistan) was engaged in a war for independence. With US President Richard Nixon standing firmly behind Pakistan as President Yahya Khan’s army tried to crush the independence movement by resorting to rape and […]

All Eyes on Digital Payments
Africa Opinions

All Eyes on Digital Payments

Raghuram G. Rajan, CHICAGO – Digital payments are attracting growing interest, and eye-popping numbers abound, as demonstrated by the US payment processor Stripe’s recent $95 billion valuation. Why all the excitement, and why now? At one level, the reason is straightforward: digital payments allow buyers to pay sellers without physical currency changing hands. Though the technology has […]

The Risk of Post-Pandemic Instability
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The Risk of Post-Pandemic Instability

Kent Harrington, ATLANTA – With vaccinations raising hopes for an end to the pandemic, predictions about the post-COVID world are multiplying fast. From envisioning a reordered economy to forecasting how people will live, work, and play, experts are doing their best to extrapolate from developments that the virus has put into motion. In the United […]

China’s Accelerating Fertility Crisis
Opinions

China’s Accelerating Fertility Crisis

Zhang Jun, SHANGHAI – Historically, demographics has been a slow-moving variable. But the East Asian economies – especially China, Japan, and South Korea – have flipped so fast from rapid population growth to decline that they practically have whiplash. As a planned economy, China was once obsessed with expanding its population. But, in 1957, the […]

Building Back Worse
Opinions

Building Back Worse

Mariana Mazzucato, Laurie Macfarlane, and George Dibb, LONDON – The term “industrial strategy” has a turbulent history. After being embraced in the United Kingdom by the Labour governments of the 1960s and 1970s, it was rejected by Margaret Thatcher and subsequent prime ministers on the (dubious) grounds that government is inherently wasteful and inefficient. Although […]