The magazine of international economic policy.

From the Fall 2019 issue

Could the U.S. Economy Be Experiencing a Hidden Tech-Driven Productivity Revolution?

Could official U.S. data—including data showing productivity growth—be failing to reflect a massive process of creative destruction—and disruption—underway? What are the policy implications if productivity growth is being under-measured in the official data?

A symposium of views

Featuring commentary by Marco Annunziata, Scott K.H. Bessent, Michael J. Boskin, Richard N. Cooper, Marek Dabrowski, Mohamed A. El-Erian, Steffen Elstner, Jason Furman, James K. Galbraith, James E. Glassman, Maurice R. Greenberg, Michael Hüther, William H. Janeway, Richard Jerram, Robert E. Litan, Michael Mandel, Catherine L. Mann, J.W. Mason, Jim O’Neill, Holger Schmieding, Mark Sobel, and Jennifer Zhu Scott.

Inflation Bogeyman

Hibernating or exaggerated threat?

By J. Bradford DeLong

A Terribly Risky Time

Capitalism itself could be at stake.

By Bernard Connolly

Introducing Europe’s New “Power Women”

Can they succeed?

By Klaus C. Engelen

The Great Debate

The ECB’s policies have failed to deliver, according to eight former central bankers. Look at the eurozone economy and the weakness of its banks, they say in this public memorandum.

By Hervé Hannoun, Otmar Issing, Klaus Liebscher, Helmut Schlesinger, Jürgen Stark, Nout Wellink, Jacques de Larosière, and Christian Noyer

The Empire Strikes Back

The former central bankers’ memorandum omits three major ECB successes, according to Mario Draghi’s predecessor.

By Jean-Claude Trichet

Digital Currency Headache

Goodbye to the dollar’s ability to further national interests.

By Kenneth Rogoff

Reducing Poverty

The big picture.

By Yuen Yuen Ang

Why People Are Angry

Traditional measuremeants miss the larger story.

By Jeffrey D. Sachs

The Implications of Oil’s Surprising Collapse

The new threats are global warming, fracking, and electric vehicles.

By Philip K. Verleger, Jr.

Shrinking Pie

The ugly world for Venezuela’s creditors.

By Steven T. Kargman

Off the News

Eurozone monetary policy and fiscal stimulus, and an excerpt from the notable new book, The Long Journey of Central Bank Communication by Otmar Issing,

View from the Beltway

That elusive soft landing—and the Fed's difficult circumstances.

By Owen Ullmann