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January 22, 2024

Trade
The Curse of Nostalgia: Industrial Policy in the United States

A critical look at the past and present of industrial policy shows that its recent popularity is not only misguided, but is likely to have negative economic and geopolitical consequences for the Unit…

President Joe Biden signs the Inflation Reduction Act in the State Dining Room of the White House in Washington on August 16, 2022.

February 9, 2024

Global
Central Bank Currency Swaps Tracker

Introduction Since the financial crisis of 2007, central banks around the world have entered into a multitude of bilateral currency swap agreements with one another. These agreements allow a centr…

October 25, 2023

Turkey
Turkey, the United States, and the Israel-Hamas War

President Erdogan’s recent troubles with the United States have prevented Turkey from playing a potentially constructive role in the early phases of the Israel-Hamas war.

Turkish President Recep Tayyip Erdogan speaks at a lectern. Two Turkish flags are seen behind him.

March 1, 2023

United States
How Today Is Like the 1790s

Many of the supposedly unprecedented features of contemporary politics have familiar echoes in earlier American history, and so the best mirror in which to see our present moment clearly could be our…

An audience member holds up a phone with a case reading "Keep Calm and Defend the Constitution" during a "Get Out to Caucus" rally with U.S. Democratic presidential candidate Hillary Clinton in Cedar Rapids

July 16, 2023

United States
How Today Is Like the 1890s

The most popular historical analogy for current American troubles is the Civil War era. The second most popular is the Gilded Age. But where the 1850s do not meaningfully resemble today, the 1890s ce…

The U.S. flag flies near the Statue of Freedom atop the U.S. Capitol in Washington, DC.

October 4, 2021

Middle East and North Africa
Democracy Was Never Going to Stop Islamist Terrorism

Twenty years after 9/11, U.S. policy in the Middle East is still based on a fundamental mistake.

U.S. President George W. Bush (L) meets with Egypt's President Hosni Mubarak (R) in Sharm El Sheikh May 17, 2008.