Economics & Politics

February 19th, 2015

Greece needs time to negotiate

While the Greek crisis continues to rage, the eurogroup — the eurozone’s finance ministers — spent the past week quibbling over details in Brussels while the world waited breathlessly to know if the eurozone is going to derail the global recovery. The way forward is obvious. The world will not forgive the eurozone, led by [...]

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America is the land of breakthrough science — and health care scams. The two seem to go hand in hand in the case of the new hepatitis C virus (HCV) cure named sofosbuvir, sold under the brand name Solvadi by the drug company Gilead Sciences. There is no question that Solvadi is a godsend — [...]

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NEW YORK – Financial markets serve two crucial purposes: to channel savings toward productive investments, and to enable individuals and businesses to manage risks through diversification and insurance. As a result, the sector is essential to sustainable development, which represents unprecedented global-scale investment opportunities and risk-management challenges. That is why, when world leaders meet this [...]

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Members of the Congressional Progressive Caucus and Fellow Citizens, The true State of the Union, and the state of the world, in 2015 can be described in one word: precarious.  Despite our wealth, our technological knowhow, our global social media, we are a world at war with each other and with the planet itself.  At [...]

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NEW YORK – The European Central Bank has finally launched a policy of quantitative easing (QE). The key question at this stage is whether Germany will give the ECB the freedom of maneuver needed to carry out this monetary expansion with sufficient boldness. Though QE cannot produce long-term growth, it can do much to end [...]

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The overwhelming truth about the Greek debt crisis is that it’s a massive distraction. Greece accounts for a mere 2% of the eurozone economy and the EU population. This doesn’t mean that Greece should be pushed around, still less pushed out of the eurozone. It means the very opposite: the crisis should be resolved, and [...]

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Twenty-two years ago, when the price of gas at the pump was $1 a gallon and a movie ticket was $4, Congress saw fit to set the gasoline tax at 18.4 cents a gallon. The idea was to ensure enough funds for the Federal Highway Trust Fund to keep our roads and bridges in good [...]

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January 16th, 2015

The War with Radical Islam

NEW YORK – French Prime Minister Manuel Valls was not speaking metaphorically when he said that France is at war with radical Islam. There is, indeed, a full-fledged war underway, and the heinous terrorist attacks in Paris were part of it. Yet, like most wars, this one is about more than religion, fanaticism, and ideology. [...]

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NEW YORK – For several years, and often several times a month, the Nobel laureate economist and New York Times columnist and blogger Paul Krugman has delivered one main message to his loyal readers: deficit-cutting “austerians” (as he calls advocates of fiscal austerity) are deluded. Fiscal retrenchment amid weak private demand would lead to chronically high unemployment. [...]

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