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In a new Policy Innovation Memorandum, CFR's Benn Steil argues that the "Volcker rule" misdiagnoses the sources of bank risk to the financial system, and would have done nothing to mitigate the recent crisis had it been in force in 2008. Steil concludes that the troubled effort to implement the rule should be abandoned in favor of controls on bank leverage and elimination of tax incentives for debt-financing. Read the Memo » |
The Tax Debate "Buffett Rule" Is a Sorry Excuse for Tax Reform Sebastian Mallaby argues that, by focusing on a "Buffett rule," President Obama is squandering his chance to sell voters on meaningful tax reform. Read More » Aging America Must Rethink Tax Policy Michael Hodin explains how demographic shifts could soon saddle working-age Americans with an unsustainable tax burden. Read More » Risky Business In Defense of Oil Speculators At ForeignAffairs.com, Blake Clayton argues that speculators help energy prices respond to shifts in supply and demand, benefiting producers and consumers alike.
Read the Snapshot » Milton Friedman Proved Wrong by Aluminum Market Peter Orszag counters that financial speculators can destabilize commodities prices for brief periods of time. Read More » Leading the World Bank Banker, Tailor, Soldier, Spy Benn Steil's New York Times op-ed reveals the spy-thriller history of America's claim on the World Bank's top job. Read More » How to Fix the World Bank Thomas Bollyky writes that the United States should use the controversy over the World Bank's presidential selection process as an impetus to reform the institution. Read More » Obama’s Blunder at the Bank Jagdish Bhagwati criticizes President Obama for nominating Jim Yong Kim to the World Bank presidency over candidates who would pursue macroeconomic reforms that promote growth. Read More »
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The Maurice R. Greenberg Center for Geoeconomic Studies (CGS) works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs.
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