The debate over fiscal responsibility has been muddled by the Great Recession; inevitably, perhaps, arguments over long-term fiscal problems have been conflated with debates over short-term recovery programs. Both debates have suffered terribly as a consequence.
Whatever happens to the price of those commodities matters a great deal for development and, even more, for the war on poverty. The problem is that those prices are famously volatile.
Developing countries continue to face important challenges in boosting productivity growth in the difficult post-crisis environment, but also many opportunities to eliminate poverty and create shared prosperity.
Before we go charging off to fight the great battles to secure America's finances in the future, we should reflect on how accurate we have been in the past when predicting the national balance sheet.
Emerging market and developing economies are still going strong, but in advanced economies, there appears to be a growing bifurcation between the United States on the one hand, and the Euro area on the other.
Our whole national argument about taxes -- we pay too much! They pay too little! -- is misplaced. At best, it's a proxy for the real argument we should be having. To use Holmes's terms, we argue endlessly about the price when we should be debating the civilization.
The end of these unconventional monetary policies will come and may pose threats to financial stability because of the length and breadth of their unprecedented reign. Policymakers should be alert to the risks and take gradual and predictable measures to address them.
Let's face it. Everybody loves cheap energy. Almost all human activities require energy consumption and, if something is so basic, it seems pretty obv...
It's a tough place for Obama to be in with the GOP loaded for bear against him, and Democrats ready to do battle hard against him on what they won't accept in a budget deal. It's a problem that's far bigger for Obama than the momentary drop of a few points in an approval poll.
There is no one European identity, no one voice that speaks for the myriad of countries that make up the EU. Before increased monetary and fiscal integration can take place, European leaders need to focus on enhancing their political union.
The official deficit measures only the increase in official debt. What it misses is the massive annual increases in our government's unofficial debts.
given that substantial temperature increases are already "baked in the pie," we must figure out ways to protect human welfare and development gains, by helping poor people and countries adapt to climate change.
A year ago GOP congressional leaders made clear that if they have their way they will wield the meat ax on vital domestic programs. In March, they will get their chance.
Political drama might make for good TV, but a real conversation is necessary for the future of the fiscal health of the country.
Averting this "fiscal cliff" is the least of our issues. The incessant juvenile tactics being performed on a daily basis by the GOP need to end once and for all.
Some were willing to settle for a "mini bargain." Instead Congress seems now to be working on a "micro deal."