The Republicans are at a loss for a candidate of substance, which is what the American people will demand after Barack Obama. It may be early, but so far Hillary Clinton is the only viable candidate.
The Obama administration did too little, too late, to help troubled homeowners, who faced plummeting home prices and the risk of foreclosure. The most important thing they can do is get Fannie Mae and Freddie Mac to adopt principal reduction.
She's just the kind of person we need, madly intelligent, enormously compassionate, quick to learn and better to clearly explain complex issues. So....it just don't get better, as someone recently said.
Economic success does not assure peace, but economic failure and disintegration almost assures conflict. It is incumbent on the leaders of the major nations of the world to figure out how to achieve more rapid and sustained economic growth. A commitment to maintain strength, to uphold the international order, is an inherent and deeply-seated part of any successful global system. Great powers can never bluff. When they bluff, when their intentions are uncertain, they are tested. When they are tested, questions arise, and the prospect of conflict mounts.
The argument goes that instead of being jealous, we all should be working in harmony together to create jobs and opportunity. Problem is, the deeply rich talk about building the economy but do almost nothing about it.
We were all victims of the financial crisis that began in 2007 (not 2008), but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.
Changes in the structure of the economy have led to a significant shift in the natural balance between savings and investment, causing a decline in the equilibrium or normal real rate of interest that is associated with full employment. In this situation, a temporary increase in fiscal stimulus reduces, rather than increases, the long-run debt-to-GDP ratio.Anything that stimulates demand will operate in a positive direction. Austerity is counterproductive unless it generates so much confidence that it is a net increaser of demand.
If we make the right investments in the health sector today, we could achieve universally low rates of infectious, maternal and child deaths by 2035.
The institutions of higher education should realize that the 20th Century system that consolidated all academic functions under one roof is being challenged by new technologies and new structures.
In theory, economists are rewarded for seeking the truth. In reality, many are rewarded for outlandish soundbites for "talking head" shows and supporting whichever special interest group pays them.
Two weeks ago, the IMF organized a major research conference, in honor of Stanley Fischer, on lessons from the crisis. Here is my take.
It should be no surprise that it has taken so long for a prominent member of the American policy elite to suggest openly to his colleagues that the core assumption upon which they have been managing the economic crisis might be dead wrong.
Clearly, our political system is going through some of its greatest challenges. When competing values are so polarized, systemic seventh level thinking doesn't see the light of day as the entire system heads into collapse.
Obama's expected nomination of Summers was a perfect example of that critical flaw. Repeated appointments of inadequate individuals with questionable résumés -- whether out of loyalty or cronyism -- leaves the government vulnerable to recurrent failure.
I find it distressing that President Obama and other proponents of big government continue to preach its virtues as the country faces ongoing politica...
If we need any more evidence that Janet Yellen should be the next Federal Reserve Chairperson, it was the decision by the Fed Governors to continue th...