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.
The traditional U.S. economic agenda in East Asia needs to be complemented with a push for the policies needed to bring East Asia’s savings down to a level that the region can more easily absorb internally.
Two African members of CFR's Global Board of Advisors discuss the geopolitical and geoeconomic issues facing the continent today. CFR's Global Board of Advisors, founded in 2012, fosters a dialogue between business and global leaders from the United States and abroad.
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.
In this intriguing prequel to his upcoming book, Sebastian Mallaby reveals a new side to controversial former Fed chairman Alan Greenspan. Greenspan was often accused of trusting too much in markets and being blind to the effects of bubbles, but Mallaby shows that Greenspan, in fact, was the man who knew.
Trade Policy Has Become Politically Unpopular. These Steps Could Help Rehabilitate It. This piece is based on a new CFR discussion paper authored by Edward Alden and Robert E. Litan, titled “A Winning Trade Policy for the United States.”
Speaker: Kenneth S. Rogoff Presider: Matthew Bishop
Kenneth Rogoff discusses the 'Curse of Cash,' his new book about phasing out most paper money to fight crime and tax evasion—and to battle financial crises by tapping the power of negative interest rates.