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.
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.
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 advent of a new historical epoch requires boldness in foreign policy architecture. Though less studied than the post-World War II master builders, Charles Evans Hughes' effort after World War I is a worthy case in point.
Europe has long viewed Turkey as a parent would a troubled stepchild. But a vibrant and increasingly powerful Turkey is making such an attitude absurd--and dangerous.
A proposal to reinvent a troubled but vital institution.
The appointment of the Primakov government in September reflects profound changes in Russian politics, some of which have serious implications for the United States.
The EU is not democratic. Neither the EC, nor the Council of Ministers, nor the European Central Bank is democratically accountable; and they cannot be made so, because Europe is not a nation.
