The magazine of international economic policy.

From the Summer 2003 issue

Rome on the Potomac

Like it or not, America today finds itself an imperial power committed to maintaining an empire. The only question is what kind of empire?

By Robert W. Merry

The Conscience of the Fed

First he rose to become the Federal Reserve’s top staffer. Now he helps set the pace as one of Washington’s newest Fed governors. TIE’s exclusive interview with Donald Kohn.

Do Budget Deficits Affect Long-Term Interest Rates?

U.S. federal budget deficits are back big time. What will be their long-term consequences? Seven big thinkers enter the ring, gloves up.

By R. Glenn Hubbard, Pete Peterson, Larry Kudlow, Barney Frank, Jack Kemp, Gene Sperling, and Alan Reynolds

Fixing Wall Street

A first step toward restoring customer trust in the system.

By Martin Mayer

Will the Fallen U.S. Dollar Set the Stage for a Global Economic Boom a Year or Two From Now?

A symposium of views

Five Myths About the Oil Industry

Particularly since September 11, global chatter keeps offering up supposedly accepted notions about oil. TIE asked an expert to address some of the confusion.

By J. Robinson West

German vs. German

A strange new personal war has broken out between IMF head Horst Köhler and German Finance Minister Hans Eichel. But beneath the surface, even larger issues—including perceived American heavy-handedness—are at stake.

By Klaus C. Engelen

The Newfoundland Lesson

During the 1930s, long before the IMF, the British Empire coped with a debt crisis in a small country. This is a tale of the choice between debt and democracy. It shouldn’t be forgotten.

By David Hale

In Defense of Globalization

Why cultural exchange is still an overwhelming force for good.

By Philippe Legrain

The Grand Playmaker

Every so often TIE sits down with its old friend, former Secretary of State Lawrence Eagleburger, to talk about the world. As always, he doesn’t disappoint.

Dealing With the Russians

Imagine you’re sitting in the Oval Office. What advice would you offer George W. Bush?

A symposium of views

An Iraq Currency Game Plan

Either adopt the classic British currency board model or simply “dollarize” Iraq.

By Steve Hanke

How to Establish a Credible Iraqi Central Bank

The argument for inflation targeting.

By Stephen G. Cecchetti

Fukui’s Mission Impossible

Some now argue the Bank of Japan—with a would-be reformer at the helm—is the answer. Actually, the Central Bank is still part of the Japan problem.

By Tadashi Nakamae

Japan’s Dying Market Economy

Why Tokyo desperately needs to adopt the South Korean model.

By Masaaki Kanno