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The vulture reformers -- who have proven adept at raising corporate money and implementing market-based reform through complete mayoral control -- have forgotten that teaching boils down to the interpersonal.
The IMF threw Greece under the bus. In particular, it ludicrously downplayed the damage its recommended austerity measures would do to the Greek economy, which is in the grips of a prolonged and deep recession.
The attention span in Washington, D.C. these days is remarkably short, and multi-tasking is something at which Congress seems particularly inept. So right now the focus there is overwhelming on just one thing: scandals, while the real business of the American people goes largely unexamined.
If the world is to sustain the momentum of economic development that is essential to Jim Yong Kim's optimism, the companies and countries that have benefitted from expanding free trade have a collective stake in figuring out a path forward that stanches the downward spiral of the American middle class.
Egypt's economic policy has been in a virtual holding pattern since the end of last year and the government finds itself in exactly the same situation today as it was nearly six months ago: having to implement tough but unavoidable reforms in the face of deep political division and with elections just around the corner.
Latin America continues to be one of the fastest growing regions in the world, even though growth slowed down a bit in 2012. However, these blissful external conditions will not last forever.
As fertility rates drop, and as life spans increase, older adults must continue to contribute to economic life. Politics aside, there is simply no way for the ballooning 60+ demographic to become dependent as previous generations have.
While some hope of a miracle occurring in the coming months remains, so does the question of whether the new Slovenian government is willing to invest enough political capital to push through the necessary reforms before the capital markets decide to lock Slovenia out once again.
Rethinking and reforms are both taking place. But we still do not know the final destination, be it for the redefinition of monetary policy, or the contours of financial regulation, or the role of macroprudential tools.
Some of the Greeks I talk to on the phone tell me Greece now is reliving some of the harsh realities of WWII German occupation when hundreds of thousa...
Policymakers' decisive actions since our last report in October have increased global financial stability by reducing acute risks. In the euro area,...
The 2008-09 global economic crisis pushed public debt ratios of advanced economies to levels never seen before during peacetime. These high debt levels expose countries to a loss of market confidence and, ultimately, damage long-term growth prospects.
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.
Trapped by the relentless demands of its northern European partners, Greece has become a disturbing model of idleness and stagnation.
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.
Why the sudden shift in opinion? It is actually not so clear that the public is very engaged on the issue. While many like the one-line slogans associated with the new constitution are popular, people seem more apathetic when it comes to making demands of parliament.
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