Read Edward Alden's accompanying blog post. Each year, U.S. state and local governments spend tens of billions of dollars to lure or retain business investment. The subsidies waste scarce taxpayer…

To advise state and local government on how best to use private investment and build more critical infrastructure in a cost-effective way, Heidi Crebo-Rediker recommends the federal government create a new advisory unit within the Treasury Department called "Infrastructure USA."

CFR Senior Fellow Ray Takeyh argues that it is necessary for the United States to emphasize human rights issues during discussions of a nuclear agreement with Iran.

The European Stability Mechanism's (ESM) bank recapitalization instrument was designed to break the vicious circle tying financially weak eurozone governments to financially weak banks. It cannot, ho…

Benn Steil and Dinah Walker argue that the ECB's bank stress tests will roil rather than calm markets if recapitalization funds are not set aside in advance, as they were in the case of the highly successful U.S. tests in 2009.