U.S. consumers are spending less and saving more. The economic impact of that combination will depend on how fast incomes grow.

The Economist discusses the next phase of the world's economic downturn: a global jobs crisis.

Martin Wolf discusses how the financial crisis will affect the legitimacy of the market and capitalism in general.

David Pilling writes that Asia's reliance on trade, once considered its strength, has contributed to the speed and depth of the crisis.

Greg Mankiw warns against taking on China's supposed currency manipulation in the name of 'fair trade', in this New York Times op-ed.

The Economist argues that the U.S. must lead in vigorously opposing the rising spectre of economic nationalism.

The Economist writes that government is fighting back against the global recession with an activism rarely seen outside of wartime.

The Financial Times' Martin Wolf examines the economic questions facing world policymakers in 2009 and says these decisions could shape global finance for decades to come.

Nouriel Robini at RGE Monitor explains why China's officially announced figure of 6.8% growth in the fourth quarter of 2008 may actually indicate that the PRC has entered a recession.

In this Financial Times op-ed, Martin Wolf argues that the economic crisis is a product of the global economy and cannot be cured by the U.S. alone.

Brookings Institution fellows Martin Neil Baily and Charles L. Schultze defend the Troubled Assets Relief Program against misguided criticism.

This World Economic Forum report explores a near-term industry outlook characterized by an expanded scope for regulatory oversight, back to basics in the banking sector, some restructuring by alternative investment firms and the emergence of a new set of winners and losers. Over the long-term, the report finds that a range of external forces and critical uncertainties have the power to significantly shape the industry.

In this Washington Post article, Greg Ip says that while the risk of a U.S. default is unlikely, it is no longer unthinkable.

This Economist article discusses evidence from past financial crises which suggest that America's current recession is likely to be severe.

In this Financial Times article, John Plender asks whether financial innovation is a blessing or a curse and to what extent it should be curbed.

Michael Lewis, a contributing editor at Vanity Fair, and David Einhorn, President of Greenlight Capital, suggest a number of changes that need to be made in the financial system in order to avoid a similar crisis from occurring again.

Nouriel Roubini, chairman of RGE Monitor, warns that we are only at the early stages of this crisis and that the worst is not yet behind us.

In the Financial Times, Ralph Atkins discusses the long-term prospects for the euro ten years after its establishment.

An Economist news analysis argues that as capital markets become more discriminating, it no longer affords shelter from reform.

Lawrence Summers, the head of President Obama's White House National Economic Council, writes that any economic stimulus measure must both create jobs and undertake long-term investments in infrastructure, health care, energy, and education.