French economist Thomas Piketty has won the fourteenth annual Council on Foreign Relations (CFR) Arthur Ross Book Award for Capital in the Twenty-First Century(Belknap Press) and will receive $15,000. On December 9, CFR will honor the awardees at a cocktail reception hosted by Gideon Rose, editor of Foreign Affairs and chair of the independent award jury.
When oil prices plunged in 2014, many analysts predicted that major exporters would have to drastically cut supply or else risk fiscal and geopolitical instability. Michael Levi explains why these predictions have been proven wrong.
Fiscal "breakeven" oil prices have become popular among analysts and decision-makers as indicators of oil-producing countries' economic and political stability, but there are limits to the insights that breakeven prices provide. Blake Clayton and Michael A. Levi assess the potential value and most important pitfalls involved in using fiscal breakeven oil prices.
G20 country leaders met in Antalya, Turkey from November 15-16 2015. The 2015 agenda for the global economy included "Strengthening the Global Recovery and Lifting Potential"; "Enhancing Resilience"; and "Buttressing Sustainability."
The Treasury Department released this document,a side agreement of the Trans-Pacific Partnership. For the first time in the context of a free trade agreement, participating countries adopted a declaration that "addresses unfair currency practices by promoting transparency and accountability."
On October 4, 2015, the Trans-Pacific Partnership negotiations concluded, which included ministers from Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam. The full text of the report was released a month later, on November 4, 2015.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the concerns driven by China's economic problems are modest compared to the 1997 Asian financial crisis or the Great Recession. However, there are reasons for concern: large financial imbalances, weak global growth, inadequate official resources, and political pressures. While a severe global financial crisis remains a tail risk, policymakers need to be prepared to respond.
Although the United States leads the world in technology innovation, it may fall behind if the government does not address emerging gaps in innovation policy and invest more in scientific research, argues a new progress report and scorecard from the Council on Foreign Relations’ (CFR) Renewing America initiative. The report is authored by Renewing America Associate Director Rebecca Strauss and CFR Bernard L. Schwartz Senior Fellow and Renewing America Director Edward Alden.
Management theorist Peter Drucker famously declared that companies must “innovate or die.” Washington today is full of similar warnings, based on the premise that the US is losing its innovation edge. The fear is that industrial and technological advancements in other countries—and in China in particular—threaten to leave us behind.
Learn more about CFR’s mission and its work over the past year in the 2015 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »