CAMBRIDGE: Brazilian President Dilma Rousseff's visit last week to Washington, DC, offers an occasion to consider how some once-poor countries have broken out of poverty, as Brazil has. Development institutions like the World Bank have advocated (...)
CAMBRIDGE: European leaders are seriously considering a Tobin tax, which would put a small levy on financial transactions, thereby dampening trading. But will the tax do as much as its proponents hope?
The popularity of the tax (named for the (...)
CAMBRIDGE: Sometimes, we just don't learn.
After the financial crisis, the United States enacted the Dodd-Frank Act to overhaul American financial regulation, with the aim of reducing the risk of another financial meltdown. But it did nothing to (...)
CAMBRIDGE: To reduce the chance that a financial meltdown like that of 2007-2008 will recur, regulators are now seeking to buttress institutions for the longer-run — at least when they can turn their attention from immediate crises like those of (...)
CAMBRIDGE: The West is ensnared in a debt crisis. The United States, as everyone knows, came perilously close to defaulting on August 2, and Standard & Poor's downgraded US debt from AAA on August 5. In Europe, the outgoing head of the European (...)
CAMBRIDGE: If capitalism's border is with socialism, we know why the world properly sees the United States as strongly capitalist. State ownership is low, and is viewed as aberrational when it occurs (such as the government takeovers of General (...)
CAMBRIDGE: Financial commentators have likened Japan's earthquake, tsunami, and nuclear catastrophe to derivatives' role in the 2008 financial meltdown. The resemblance is clear enough: each activity yields big benefits and carries a tiny but (...)
CAMBRIDGE: For Egypt, the question of the day is whether the country will build an open, democratic political system or relapse into some form — new or old — of autocracy. But an equally important question — above all for Egyptians, but also for (...)