Policymakers face complex cost-benefit considerations when intervening in the market to mitigate perceived risks, from climate change to competition with China.

The foundation’s prize committee stated that Sirleaf had shown exceptional leadership, and noted that Liberia was the only African country out of fifty-four to improve in every category of its Index of African Governance.

I have every incentive in the world to find evidence that central banks have diversified away from the dollar.   I like being right as much as the next guy.   Back in early 2005, Nouriel and I -- bui…