If the United States cannot get its fiscal house in order, the dollar’s privileged position as the world’s reserve currency may be at risk—at a time when there seem to be few if any plausible alternatives.
The European debt debacle has made a mockery of the original hopes that inspired the European project. The EU may not survive the current crisis—and even if it does, it could be a severely diminished organization.
Without economic recovery there is no political consensus; without political consensus there is no economic recovery. If Washington fails to overcome its current stalemate, a long period of monetary stagnation and moral decline will set in.
The gold standard is making a comeback! Tea partiers looking to push the government out of the monetary-policy-making business would have all of us carting bullion-laden trolleys to the grocery store.
Finance ministers around the world are up in arms over the Fed's latest efforts to jump-start the anemic U.S. economy. The future of globalization hangs in the balance.
The appointment of the Primakov government in September reflects profound changes in Russian politics, some of which have serious implications for the United States.
As the Great Recession gnaws at our very belief in the ability of capitalism to raise us to ever-escalating levels of wealth and prosperity, Keynes's no-longer-viable financial prescriptions are being resurrected.
