The financial institutions' focus on generating economic growth without ensuring the concomitant increase in jobs, and the inequality this generates, is partly to blame for the waning public support for global economic integration.
Has the New York Times ever had Krugman spend two hours educating its financial reporters about austerity and the euro's design defects? That would be one of the best investments it could ever make in raising the quality of its reportage on these issues.
With the announcement that the attempts by the Democrats to form a government have been derailed by what the Economist characterizes as two clowns, former Prime Minister Silvio Berlusconi and Beppe Grillo, the situation in Italy gets more dangerous.
Today, on International Women's Day, we see both amazing achievements and formidable challenges. But I am an optimist and see beyond these challenges; our daughters and granddaughters will have even better opportunities than women have today.
Today I'm going to zap around the world a bit, outlining some global trends that are areas of opportunity, both for promoting the World Economic Forum's commitment to "improving the state of the world" and for businesses' bottom lines.
David Cameron's much-anticipated speech, in which he called for a referendum on Britain's EU membership by 2017, instantly made the British PM the Dark Knight of Davos. And wouldn't you know it: he is slated as a keynote speaker here later in the week.
Next week, I will travel to Latin America -- my second visit to the region since November 2011. I return with increased optimism, as much of Latin America continues its impressive transformation that started a decade ago.
It is a long way from the courtroom in Athens that hosts Costas Vaxevanis to the arena of high global finance that Merkel bestrides, but the connection highlights the depth, the intractability and the complexity of the European financial crisis.
Perhaps we should take Mme. Lagarde's effusiveness before OPEC to heart and learn from her standards. If one of the world's most prestigious international institutions can render such homage to brazen price conspirators, we should act accordingly.
It is amazing to hear Lagarde, who almost certainly knows better, calling Latvia a "success." It is like calling the Great Depression a success -- after all, the U.S. economy did eventually recover from the Great Depression.
There is no getting around the need to reduce debt levels. High debt leaves countries exposed to interest rate shocks, limits their capacity to respond to future shocks, and reduces long-term growth potential.