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Thursday, May 28, 2020

Vladimer Putin and Xi Jinping:The Rise of The New Presidents for Life By Tony Ogunlowo

Just as Africa is busy clearing its stables of despotic Presidents-for-life, China and Russia are busy installing their own. President Vladimer Putin has a won a new term in office in an election that was marred by vote rigging and intimidation of opponents. In China...

A Trump visit to Africa is important—and carries some urgency

Ivanka Trump landed in Ethiopia on Sunday to promote the Trump administration’s $50 million Women’s Global Development and Prosperity initiative, funded through the U.S. Agency for International Development (USAID). The goal of the initiative is to empower 50 million women through employment and economic stability...

Self-Fulfilling Financial Crises by J. Bradford DeLong

Many mistaken assumptions about the 2008 financial crisis remain in circulation. As long as policymakers believe the crisis was rooted in the housing bubble rather than human psychology, another crisis will be inevitable.

The Religion of Workism Is Making Americans Miserable

For the college-educated elite, work has morphed into a religious identity—promising identity, transcendence, and community, but failing to deliver.

Beyond GDP by Joseph E. Stiglitz

What we measure affects what we do. If we focus only on material wellbeing – on, say, the production of goods, rather than on health, education, and the environment – we become distorted in the same way that these measures are distorted; we become more materialistic.

The Grim Truth About the “Swedish Model”

HANS BERGSTROM As the coronavirus pandemic has swept the planet, Sweden has stood out among Western democracies by pursuing a "low-scale" lockdown. Whether this approach speaks to a unique strength of Swedish society, as opposed to bad judgment, can be determined by comparing Sweden's COVID-19...

The Case for Deeply Negative Interest Rates

KENNETH ROGOFF Only monetary policy addresses credit throughout the economy. Until inflation and real interest rates rise from the grave, only a policy of effective deep negative interest rates, backed up by measures to prevent cash hoarding by financial firms, can do the job. CAMBRIDGE –...

COVID-19 Pandemic and the Caribbean: Navigating Uncharted Waters

As the COVID-19 pandemic continues to spread across the globe—bringing severe human and economic costs—the Caribbean is no exception. With over 1,000 confirmed cases, many countries have taken strong containment measures, such as border closures and lockdowns, to “flatten the curve.” But the “sudden stop”...

Is COVID-19 Killing Democracy?

GUY VERHOFSTADT Global media are so consumed by the public-health and economic consequences of COVID-19 that they have failed to pay adequate attention to growing political and institutional risks. In fact, if we are not careful, the biggest casualty of COVID-19 could be democracy. BRUSSELS –...

Flattening the COVID-19 Curve in Developing Countries

The more contained you want the novel coronavirus to be, the more you will need to lock down your country – and the more fiscal space you will require to mitigate the deeper recession that will result. The problem for most of the Global South is that policymakers lack fiscal space even in the best of times.