The magazine of international economic policy.

From the Fall 2021 issue:

The Prophet

TIE Founder and Editor David Smick interviews Larry Summers, the former Clinton Treasury secretary, top Obama economic adviser, and Harvard president. Summers’ recent accurate inflation forecasts have drawn attention from many market participants.

The “Fiscal Cliff” Scenario

Is it possible that U.S. policymakers fired all their fiscal stimulus cannons too soon? Will they be short of ammunition in the event the economy in 2022 significantly underperforms?

A symposium of views

Featuring commentary by Robert J. Barbera, Scott K.H. Bessent, Menzie D. Chinn, William R. Cline, W. Bowman Cutter, William T. Dickens, Everett M. Ehrlich, Mohamed A. El-Erian, Joseph E. Gagnon, James E. Glassman, Richard Jerram, Steven B. Kamin, Mickey D. Levy, Michael Mandel, Jim O'Neill, Holger Schmieding, Robert J. Shapiro, Allen Sinai, Marc Sumerlin, and John B. Taylor.

The History of Debt

Cement or explosive, elixir or poison?

By Harold James

A Balanced, Nuanced Story on Debt

Long-time TIE editorial advisory board member and contributor Barry Eichengreen talks to TIE Founder and Editor David Smick about his new book, In Defense of Public Debt.

The Politics of Debt

Not facing a debt crisis is not the same as superbly managing public debt.

By Douglas Holtz-Eakin

A Brief History of Default

The role of restructuring in the debt ecosystem.

By Edwin M. Truman

The Debt Question

For mature economies, public investment needs cannot justify large additional deficits.

By Daniel Gros

Good Debt vs. Bad Debt

Barry Eichengreen and his co-authors show that debt can have two sides.

By Otmar Issing and Ludger Schuknecht

Is Debt Good or Bad?

Answer: It depends.

By Mark Sobel

Is the U.S. Economy at Risk of Becoming “Japanized”?

The bursting of the Japanese real estate bubble in the 1990s led to what some analysts call Japan’s “lost decades.” Does the Japan analogy to the United States today have any relevance?

A symposium of views

Featuring commentary by Dean Baker, Michael J. Boskin, Mohamed A. El-Erian, Thomas Ferguson, Heiner Flassbeck, Takeshi Fujimaki, James E. Glassman, Richard Jerram, Steven B. Kamin, Shigeo Kashiwagi, Takatoshi Kato, Richard C. Koo, Desmond Lachman, Mickey D. Levy, Michael Lind, Thomas Mayer, Jim O’Neill, Peter R. Orszag, Haruyuki Oshima, Rahul Rekhi, Alan Reynolds, Holger Schmieding, Robert J. Shapiro, Daniel Sneider, Atman Trivedi, Edwin M. Truman, and Chen Zhao.

Global Xi Wakeup Call

TIE interviews Derek Scissors of the American Enterprise Institute on recent moves by China.

This Time Is Different

The potential for an energy recession could have an effect equivalent to $225 per barrel of oil.

By Philip K. Verleger, Jr.

The Real Reason Bretton Woods Failed

TIE’s Summer 2021 issue on the subject reads like Hamlet without the ghost.

By Reuven Brenner

The Criminalization of the World Economy

A review of Servants of the Devil: The Facilitators of the Criminal and Terrorist Networks by Norman Bailey and Bernard Touboul.

By Ilan Berman

Off the News

Is the Fed in a trap? And is the German position on China about to become more hardline post-Merkel?

View from the Beltway

Will China’s economy fall short? Predictions of global supremacy may be premature.

By Owen Ullmann

Letter from Poland

From worst to first: Poland’s economic rise.

By Barry D. Wood

Letter from Berlin

An impressive failure: Angela Merkel bows out.

By Klaus C. Engelen