Economics & Politics

Comment & Share

Pity the American people for imagining that they have just elected the new Congress. In a formal way, they of course have. The public did vote. But in a substantive way, it’s not true that they have chosen their government. This was the billionaires’ election, billionaires of both parties. And while the Republican and Democratic [...]

Read More, Comment & Share

October 24th, 2014

A New Macroeconomic Strategy

I am a macroeconomist, but I dissent from the profession’s two leading camps in the United States: the neo-Keynesians, who focus on boosting aggregate demand, and the supply-siders, who focus on cutting taxes. Both schools have tried and failed to overcome the high-income economies’ persistently weak performance in recent years. It is time for a [...]

Read More, Comment & Share

Earth Institute director Jeffrey Sachs and the Quakers’ Michael Shank call on Obama to stop the airstrikes—and stop supporting anti-Assad rebels. Too many times in recent history the United States has responded militarily to provocations and threats in ways that have resulted in spiraling war and violence at great long-term cost to the American people. [...]

Read More, Comment & Share

September 16th, 2014

The Price of Scottish Independence

NEW YORK – Though the world’s eyes now are on Scotland’s referendum on independence from the United Kingdom, Scotland is not alone in seeking to redraw national boundaries. There are independence movements in many other parts of the world; indeed, 39 new states have joined the United Nations since 1980. Many more aspirants are waiting [...]

Read More, Comment & Share

Tonight President Obama will address the American public and explain his decision to expand the ongoing Middle East war with more US bombings in Iraq and Syria. The decision to expand the US military campaign comes amidst high public emotions stirred by two gruesome beheadings. Yet Obama is leading us into a prolonged trap; the [...]

Read More, Comment & Share

It is hard to exaggerate the shamelessness that passes for political behavior these days. Politicians sell out our democracy to the highest bidder, and trade away our public schools, clean air and water, and economic futures. Around the world I’ve seen repeatedly how greed and corruption put societies on the path of self-destruction. Unless we [...]

Read More, Comment & Share

September 2nd, 2014

Let the Middle East Govern Itself

NEW YORK – It is time for the United States and other powers to let the Middle East govern itself in line with national sovereignty and the United Nations Charter. As the US contemplates yet another round of military action in Iraq and intervention in Syria, it should recognize two basic truths. First, US interventions, [...]

Read More, Comment & Share

It’s said that the best defense is a good offense. This strategy probably lies behind Hillary Clinton’s recent takedown of President Barack Obama’s foreign policy. After all, Clinton was a lead architect of that policy as Secretary of State, and the policies that she espoused until recently now lie in shambles. The most aggressive of [...]

Read More, Comment & Share

In a world going mad with war, European and US sanctions against Russia stand out as sane and measured. They will not stop Russia’s assault on Ukraine in its tracks, but they will help Kiev to weather the Russian blows. And by answering violence with economics, they can help to rescue the world from the [...]

Read More, Comment & Share