All Project Syndicate Articles
  • The Fragmentation of Bretton Woods

    LAGUNA BEACH – The world has changed considerably since political leaders from the 44 Allied countries met in 1944 in Bretton Woods, New Hampshire, to create the institutional framework for the post-World War ...

  • Responding to Ebola

    NEW YORK – The horrific Ebola epidemic in at least four West African countries (Guinea, Liberia, Sierra Leone, and Nigeria) demands not only an emergency response to halt the outbreak; it also calls for ...

  • Russia’s Eurasian Vision

    NEW YORK – The escalating conflict in Ukraine between the Western-backed government and Russian-backed separatists has focused attention on a fundamental question: What are the Kremlin’s long-term ...

  • A Tear for Argentina

    CAMBRIDGE – Argentina’s latest default poses unsettling questions for policymakers. True, the country’s periodic debt crises are often the result of self-destructive macroeconomic policies. But, this time,...

  • Real Raw Material of Wealth

    TIRANA – Poor countries export raw materials such as cocoa, iron ore, and raw diamonds. Rich countries export – often to those same poor countries – more complex products such as chocolate, cars, and jewels. If...

  • The Waste of War

    NEW YORK – Karl Marx famously wrote that history repeats itself, “the first time as tragedy, the second time as farce.” Yet when we look around nowadays, we can’t help but wonder whether tragedy will be followed...

  • The Three-Track Middle East

    LAGUNA BEACH – During a recent trip to the Middle East, I was struck by the growing gap between countries – so much so that, more than ever, I came away convinced that it makes no sense today to talk of the...

  • Sovereign Debt at Square One

    CAMBRIDGE – Argentina and its bankers have been barred from making payments to fulfill debt-restructuring agreements reached with the country’s creditors, unless the 7% of creditors who rejected the agreements...

  • Europe’s Debt Wish

    CAMBRIDGE – Eurozone leaders continue to debate how best to reinvigorate economic growth, with French and Italian leaders now arguing that the eurozone’s rigid “fiscal compact” should be loosened. Meanwhile, the...

  • The Open Drains of Latin America

    NEW YORK – Stories are most believable when they reaffirm our prior beliefs and assumptions. If not, we tend to find them implausible. A case in point is Eduardo Galeano’s much-admired 1971 book The Open Veins...

  • Taking Systemic Risk Seriously

    WASHINGTON, DC – There are two leading views about the world’s financial system. The first, heard mostly from executives at leading global banks and their allies, is that the system is safer than it has ever...

  • Rethinking the Sino-American Relationship

    NEW HAVEN – In early July, senior US and Chinese officials will gather in Beijing for the sixth Strategic and Economic Dialogue. With bilateral frictions mounting on a number of fronts – including cyber...

  • The Limits of Climate Negotiations

    NEW YORK – If the world is to solve the climate-change crisis, we will need a new approach. Currently, the major powers view climate change as a negotiation over who will reduce their CO2 emissions (mainly from...

  • Emerging-Market Target Practice

    ISTANBUL – Central bankers want only a few things. To achieve any of them they usually seek to nudge inflation expectations, demonstrate the transparency of monetary policy, and establish their institutions’ ...

  • Rebooting China

    MILAN – Despite China’s widely discussed economic slowdown, annual GDP growth remains above 7%, implying little cause for alarm – at least for now. The question is whether the government’s efforts to implement...

  • Mexico’s Breakout Moment?

    MEXICO CITY – Less than two years into Enrique Peña Nieto’s presidency, Mexico is implementing an ambitious structural-reform package designed to lift its economy out of a multi-decade low-growth trap and create...

  • The Mismeasure of Technology

    CAMBRIDGE – There is nothing better than fuzzy language to wreak havoc – or facilitate consensus. Ludwig Wittgenstein argued that philosophical puzzles are really just a consequence of the misuse of language. By...

  • Labor’s Digital Displacement

    MILAN – Digital technologies are once again transforming global value chains and, with them, the structure of the global economy. What do businesses, citizens, and policymakers need to know as they scramble to...

  • Why Bill Gates Gets It Wrong

    NEW YORK – In his review of Nina Munk’s error-filled and out-of-date book, Bill Gates oddly abandons the rigorous approach to measurement and evaluation that defines his foundation’s invaluable work. He simply...

  • Why Jeffrey Sachs Matters

    SEATTLE – Bono calls economist Jeffrey Sachs “the squeaky wheel that roars.” To me, Sachs is the Bono of economics – a guy with impressive intelligence, passion, and powers of persuasion who is devoting his...