Global

Foreign Affairs Article

The Innovative Finance Revolution

Authors: Georgia Levenson Keohane and Saadia Madsbjerg

Assessments of how governments and international organiza­tions have dealt with global challenges often feature a familiar refrain: when it comes to funding, there was too little, too late. The costs of economic, social, and environmental problems compound over time, whether it’s an Ebola outbreak that escalates to an epidemic, a flood of refugeesthat tests the strength of the EU, or the rise of social inequalities that reinforce poverty.

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Foreign Affairs Article

Having It All

Author: Victoria de Grazia

The historian Frank Trentmann has written the first total history of consumption. Empire of Things is an original, ambitious account that begins in the fifteenth century, spans the globe, and examines a wide range of regimes, from liberal democracies to fascist dictatorships. The book could hardly be more relevant: since the Great Recession began in 2007, the world has been mired in a global economic crisis with the consumer at its core. As inequal­ity soared in the years leading up to the crash, middle-class consumers, in the absence of rising incomes, relied on credit to sustain their standards of living. Sensing an opportunity, banks and other financial firms began selling mortgages to people who could not afford them.

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Foreign Affairs Article

The Fusion of Civilizations

Authors: Kishore Mahbubani and Lawrence H. Summers

The mood of much of the world is grim these days. Turmoil in the Middle East, causing hundreds of thousands of deaths and millions of refugees; random terrorist attacks across the globe; geopolitical tensions in eastern Europe and Asia; the end of the commodity supercycle; slowing growth in China; and economic stagnation in many countries—all have combined to feed a deep pessimism about the present and, worse, the future.

See more in Global; Society and Culture

Foreign Affairs Article

The Age of Transparency

Author: Sean P. Larkin

Transparency has long been a rare commodity in international affairs. But today, the forces of technology are ushering in a new age of openness that would have been unthinkable just a few decades ago. Governments, journalists, and nongovernmental organ­izations (NGOs) can now harness a flood of open-source information, drawn from commercial surveillance satellites, drones, smartphones, and computers, to reveal hidden activities in contested areas—from Ukraine to Syria to the South China Sea.

See more in Global; Technology and Foreign Policy

Podcast

The World Next Week: Summer Reading Special

In this special edition, CFR.org Managing Editor Robert McMahon, CFR's Director of Studies Jim Lindsay and Stanton Nuclear Security Fellow Elizabeth Saunders start off the summer with a list of books that they will be reading in the weeks ahead. Listen in for recommendations from their reading lists.

See more in Global; Politics and Strategy

Foreign Affairs Article

Middle-Class Heroes

Author: Nancy Birdsall

The two economic developments that have garnered the most attention in recent years are the concentration of massive wealth in the richest one percent of the world’s population and the tremendous, growth-driven decline in extreme poverty in the developing world, especially in China. But just as important has been the emergence of large middle classes in developing countries around the planet.

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Foreign Affairs Article

ISIS Goes Global

Author: Daniel Byman

The downing of a Russian passenger plane over Egypt’s Sinai Peninsula last October, for which the Islamic State (also known as ISIS) claimed responsibility, may ultimately prove more consequential than the horrific attacks in Paris and San Bernardino, California, that followed. Western security officials had long worried that their countries’ own citizens would conduct attacks after returning home from Iraq or Syria or strike out as “lone wolf” terrorists.

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Event

Revitalizing Economic Growth in the Twenty-First Century: A Conversation with Kweilin Ellingrud and Christopher Ruhm

Presider: Rachel B. Vogelstein
Speaker: Kweilin Ellingrud
Speaker: Christopher Ruhm

According to a new McKinsey Global Institute (MGI) report, advancing women’s equality could add $12 trillion to GDP by 2025. This seminal report, entitled “The Power of Parity,” is the product of research from ninety-five countries on the relationship between gender parity and economic growth. Kweilin Ellingrud, a lead researcher on the report, and Christopher Ruhm, whose research examines the economic effects of work/family policies, joined the Women and Foreign Policy program for a discussion about the economic imperative of promoting gender equality. This roundtable was generously sponsored by the William and Flora Hewlett Foundation.

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