The United States is not the only place possessed by populism, and this week the results from Iowa coincided with a new lurch toward the gutter in formerly sane Britain. The country once governed by Bill Clinton-imitating centrists is now beset by its own version of Trump-Cruzery: a xenophobic nativism that would divorce Britain from Europe in defiance of ordinary good sense.
The special exemptions for tobacco products in the TPP trade deal say less about cross-border investment rules generally, and more about the unique nature of tobacco under U.S. and international law, writes CFR's Thomas Bollyky.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the idea of capital control is less radical than it seems; although comprehensive liberalization is theoretically the ideal option, capital controls may be China’s best chance to end the panic roiling global markets.
Benn Steil and Emma Smith’s article explains the difference between using rate hikes and balance-sheet reductions to tighten monetary policy and shows why Richard Koo is mistaken in arguing for the Fed to do the latter.
As the most powerful emerging economies—Brazil, China, and India—slow after years of unprecedented growth, panic over their challenge to global order seems unfounded. But stalled performance does not make them irrelevant, and advanced economies should integrate them into global economic institutions, writes Miles Kahler in World Politics Review.
The line between domestic economic policy and foreign economic policy is now almost invisible, and getting these policies right matters for more than just U.S. living standards. Through insightful analysis and engaging graphics, How America Stacks Up outlines the challenges faced by the United States and prescribes solutions that will ensure a healthy, competitive U.S. economy for years to come.
The United States leads the world in combining innovation quality and quantity, but the challenges are growing, particularly when it comes to scientific research. Addressing gaps in U.S. innovation policy could help ensure that the United States remains the leading innovation center for decades to come.
The scorecard infographic and accompanying progress report, "Trading Up: U.S. Trade and Investment Policy," analyzes the overall health of the U.S. economy by focusing on shifts in global trade and foreign direct investment in the United States.
A decade ago the United States had the lowest share of long-term unemployed workers among developed nations. But today U.S. long-term unemployment levels are nearly as high as those in Europe, despite stronger overall U.S. economic performance. This Progress Report and Scorecard demonstrates that U.S. federal employment and training programs that assist job seekers do little to help the long-term unemployed prepare for different careers.
The U.S. government faces an unsustainable long-term debt trajectory. This Progress Report and Scorecard outlines the factors affecting federal debt and suggests options for policymakers to address the impending crisis.
In the first installment of the Renewing America Progress Report and Scorecards, "Road to Nowhere: Federal Transportation Infrastructure Policy" provides a critical assessment of federal transportation policy, including background on major policy initiatives and analysis of what's needed to start moving forward.
The U.S. system for taxing corporate profits is outdated, ineffective at raising revenue, and creates perverse incentives for companies to shelter profits overseas. It is also, for most U.S. companies most of the time, a pretty good deal, which is one of the big reasons why any serious overhaul will be so difficult to achieve.
The United States used to be the trailblazer in regulatory reform. But the rest of the rich world has caught up. This Progress Report and Scorecard from the Renewing America initiative outlines the current state of federal regulation in the United States and charts ways the U.S. regulatory management system could be improved.
The scorecard infographic and accompanying progress report, "Remedial Education: Federal Education Policy," highlights the main challenges facing the U.S. education system and assesses whether federal education policy is effectively addressing them.
Benn Steil and Emma Smith’s op-ed explains why the ECB should worry Emerging Markets almost as much as the Fed does. A big rise in speculative euro borrowing makes them vulnerable to euro appreciation, which could be dramatic if Draghi disappoints in March.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that 2016 looks set to be a volatile year in which geopolitics and hard-to-quantify policy dilemmas create significant uncertainty in markets. Policymakers will be asked to make tough decisions about where and when to intervene in markets at a time when their capacity to deal with crisis is increasing challenged, suggesting the road ahead could continue to be bumpy.
Robert E. Litan argues that the Federal Reserve will be very cautious in the pace at which it raises federal-funds rates over the next twelve months. He argues that the risks to the U.S. economy over the next year outweigh the potential gains.
In Market Madness, Blake C. Clayton shows that predictions of dwindling oil supplies and a rise in prices have been empirically proven incorrect. Technological advances and geopolitical shifts have repeatedly prompted sudden, severe drops in oil prices—exactly like the one we are experiencing today.
In By All Means Necessary, Elizabeth C. Economy and Michael Levi explore the unrivaled expansion of the Chinese economy. China is now engaged in a far-flung quest, hunting around the world for resources, and deploying whatever it needs in the economic, political, and military spheres to secure them. More
In Money, Markets, and Sovereignty, the authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization. More
In The Closing of the American Border, Edward Alden goes behind the scenes to tell the story of the Bush administration's struggle to balance security and openness in the wake of the September 11, 2001, terrorist attacks. More