Economics

Foreign Affairs Article

Germany's Real Role in the Ukraine Crisis

Authors: Elizabeth Pond and Hans Kundnani

In his discussion of German foreign policy’s supposed drift eastward, Hans Kundnani (“Leaving the West Behind,” January/February 2015) suggests that Germany has resisted imposing sanctions on Russia over its undeclared war with Ukraine—a sign, in his view, that Germany might once again desert the West in a flirtation with Russia.

See more in Germany; Ukraine; Sanctions

Foreign Affairs Article

The Art of the Cell

Author: Marcelo Claure

A native of La Paz, Bolivia, Marcelo Claure graduated from Bentley College, in Waltham, Massachusetts, in 1993 with a degree in economics. His first job afterward was with the Bolivian Football Federation.

See more in Global; Economics

Foreign Affairs Article

Much Ventured, Much Gained

Author: Michael Moritz

Born in 1954 in Wales to Jewish refugees from Nazi Germany, Michael Moritz attended Howardian High School in Cardiff and studied history at Christ Church, Oxford. After college, he moved to the United States, getting an MBA from Wharton and then working as a reporter for Time.

See more in United States; Entrepreneurship

Foreign Affairs Article

Misrule of the Few

Author: Pavlos Eleftheriadis

Just a few years ago, Greece came perilously close to defaulting on its debts and exiting the eurozone. Today, thanks to the largest sovereign bailout in history, the country’s economy is showing new signs of life.

See more in Greece; Economics

Foreign Affairs Article

Leaders Indicating

Author: Ruchir Sharma

The normal rhythm of politics tends to lead most nations’ economies around in a circle, ashes to ashes. This life cycle starts with a crisis, which forces leaders to reform, which triggers an economic revival, which lulls leaders into complacency, which plunges the economy back into crisis again.

See more in Global; International Finance

Foreign Affairs Article

Taper Trouble

Author: Benn Steil

Benn Steil's essay in the July/August issue of Foreign Affairs looks at the international consequences of U.S. monetary policy action. He argues that developing-nation governments are coming to see the need for engineering current-account surpluses and large dollar-reserve stockpiles as a means of insulating themselves against Fed-induced capital-flow whiplash. As this amounts to "currency manipulation" in the eyes of U.S. policymakers, trade tensions are apt to grow.

See more in Ukraine; United States; Monetary Policy; International Finance

Foreign Affairs Article

New World Order

Authors: Erik Brynjolfsson, Andrew McAfee, and Michael Spence

Recent advances in technology have created an increasingly unified global marketplace for labor and capital. The ability of both to flow to their highest-value uses, regardless of their location, is equalizing their prices across the globe.

See more in United States; Labor

Foreign Affairs Article

Voodoo Abenomics

Author: Richard Katz

Imagine the predicament currently facing a growing number of Japanese men in their early 30s. Despite having spent years cramming in high school and attending good colleges, many can't find a full-time job at a good company.

See more in Japan; Competitiveness

Foreign Affairs Article

Indonesia in Pieces

Author: Elizabeth Pisani

In April, voters in Indonesia's parliamentary elections shocked many observers, confounded most pollsters, and seemed to set back their own long-term interests by failing to deliver a massive victory to the main opposition party, the Indonesian Democratic Party of Struggle.

See more in Indonesia; Financial Crises

Foreign Affairs Article

Reforming Nigeria

Author: Ngozi Okonjo-Iweala

Born to professors in what was then still a British colony, Ngozi Okonjo-Iweala was a teenager when civil war broke out in Nigeria seven years after independence, and she ended up working as a cook for the Biafran rebels on the frontlines.

See more in Nigeria; International Finance