Economics

Article

How Cities and States Are Leading the Fight for More Beneficial Trade

Author: Edward Alden
PBS NewsHour

“The real progress has been not in Washington—where the idea of an active government role in promoting economic competitiveness remains suspect—but in the states and the largest cities. More and more local governments have taken the lead in developing competitiveness strategies that start from the premise that local prosperity depends in good part on success in international economic competition,” argues CFR Senior Fellow Edward Alden. This is an excerpt from his new book, Failure to Adjust: How Americans Got Left Behind in the Global Economy.

See more in United States; Competitiveness

Other Report

Global Economics Monthly November 2016

Author: Robert Kahn

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the Group of Twenty (G20) policymakers agree on the importance of stronger and more inclusive growth to address growing populism, but disagree on who—central banks, treasuries, or legislatures—should take the lead. This standoff all but guarantees that the global recovery will continue to disappoint.

See more in Global; Economics

Article

The Cult of the Expert—and How It Collapsed

Author: Sebastian Mallaby
The Guardian

Sebastian Mallaby uses the framework of central bank power to examine the rise and recent decline of the cult of the expert. He concludes that, ironically, experts need to play the political game if they hope to maintain their legitimacy; and that a healthy democracy is well served by a mix of public accountability and technocratic independence. 

See more in United States; Monetary Policy; International Finance

News Release

In a New Biography, Sebastian Mallaby Examines the Life and Legacy of Alan Greenspan

Former Chairman of the Federal Reserve Alan Greenspan was once hailed as the omnipotent “maestro” of the U.S. economy, but his reputation suffered in the aftermath of the 2008 financial crisis. In The Man Who Knew: The Life and Times of Alan Greenspan, a new biography based on five years of research and unmatched access to Greenspan, Sebastian Mallaby presents a nuanced assessment of one of the most influential economic statesmen of the twentieth century and issues a warning about the future of finance. The story of Greenspan, according to Mallaby, is the story of the making of modern finance, for good and for ill.

See more in United States; Financial Crises; Banks and Banking