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Financial Regulation

Commentary

O'Malley's Tax Misstep

The Maryland governor's tax scheme won't solve the state's problems, but it will send businesses packing.

Greece's Uncertain Fate

The question isn't whether Greece will abandon the euro. It's whether Greece will be forced to abandon the euro—and what the fallout would be.

European Elections and the Debt Debacle

Saving Europe from the debt crisis will require overhauling the ECB and the euro zone.

Essays

U.S. Debt Culture and the Dollar's Fate

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.

Europe's Zero-Sum Dilemma

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.

The No-Growth Trap

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.

A Critique of Pure Gold

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.

Mr. Bernanke Goes to War

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.

Russia's Crisis, America's Complicity

The appointment of the Primakov government in September reflects profound changes in Russian politics, some of which have serious implications for the United States.

Books & Reviews

First Bank of the Living Dead

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.

Shaking the Invisible Hand

The chances of another cycle of optimism, overconfidence, hubris, panic and a long period of pessimism are high.

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May 26, 2012