The magazine of international economic policy.

From the latest issue 

Should the Nobel Prize in Economic Sciences Be Put on Hold?

Do economists need more “humility”? Should that include putting the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel on hold until the profession establishes a more credible track record?

Featuring commentary by Anders Åslund, Martin Neil Baily, Jagdish Bhagwati, Stephen G. Cecchetti, Bernard Connolly, W. Bowman Cutter, Jeffrey A. Frankel, James K. Galbraith, Brigitte Granville, Gary Clyde Hufbauer, Otmar Issing, Thomas Mayer, Jim O’Neill, and >Kermit L. Schoenholtz.

A symposium of views

The Complexity of the Supply Chain

We need a new approach to assess supply chain resilience.

By Michael Mandel

The Story of Risk

And the illusion of the Federal Reserve’s power to forever control rates.

By Reuven Brenner

Liquidity Tidal Wave

To what extent is today’s massive global ocean of liquidity breaking all the rules in U.S. financial markets?

Featuring commentary by Jacques De Larosière, Robert Dugger, Mohamed A. El-Erian , Takeshi Fujimaki, Joseph E. Gagnon, James E. Glassman, Gary Clyde Hufbauer, Richard Jerram, Steven B. Kamin, Desmond Lachman, Robert E. Litan, Michael Mandel, J. W. Mason, Jim O’Neill, Adam S. Posen, Holger Schmieding, Gunther Schnabl, Mark Sobel , Marc Sumerlin, Jean-Claude Trichet, Edwin M. Truman, Christopher Whalen, William R. White, and Chen Zhao.

A symposium of views

The Illusion of European Political Union

French President Macron’s slogan, “a sovereign France in a sovereign Europe,” is absurd.

By Otmar Issing

Energy and Climate Change

We are heading toward the merger of energy and finance instead of the substitution of one energy for another.

By Lyric Hughes Hale

The New Cold War

Time to get serious about China.

By Greg Mastel

Building Bridges

The new Glenn Hubbard-Robert Reich tag team.

By J. Bradford DeLong

The Goodhart Rule

Worthwhile goals that don’t pan out.

By Merrick Carey

Joe “Teddy Roosevelt” Biden?

Capitalism without competition is not capitalism.

By Ruben Maximiano

Off the News

Ray Dalio on the rise and fall of empires, in defense of Larry Summers, and roadblocks on the way to the Chinese century.

View from the Beltway

Cryptocurrency’s future. The next big thing or a repeat of the Dutch tulip craze?

By Owen Ullmann

Letter from Berlin

Cultural change at Bundesbank. The new Nagel era begins.

By Klaus C. Engelen