India’s growth is slowing and uneven, it is a difficult place to do business and it is risking another generation of millions of poor people as it fails to enact market reforms.
It now seems that the 21st century will resemble the 19th and early 20th centuries, with periodic panics and runs on financial institutions — but in a redefined form.
Expanding the liability of shareholders in financial institutions now deemed “too big to fail” may be a better solution than splitting up the companies.
Doctors are already rationing health care and are likely to further discriminate based on whether a patient has private insurance, Medicare or Medicaid.
Doctors are already rationing health care and are likely to further discriminate based on whether a patient has private insurance, Medicare or Medicaid.
In Berlin, long-term fiscal caution may be a result of its 20th-century history — which taught that the government can’t rely on the future to pay its bills.
Despite contentions that America is on the road to socialism, the expansionary phase of big government is in many respects coming to an end, and quickly.
Europe no longer pretends Greece is wealthy. Now the Continent acts as though Greece will quickly become wealthy enough to pay back ever-growing sums of debt.
If we are going to prevent an A.I.G.-like debacle from happening again, institutions that engaged in bad deals need incentives to be more wary of their trading partners.
Something terrible has happened in the U.S. economy. But a deeper look at the downturn, and the social changes it is bringing, shows a more complex picture.
When it comes to financial regulation, until the crisis of the last few months, the Bush administration did little to alter a regulatory structure that was built over many decades.
The damage that trade restrictions cause is probably most evident in the case of rice, which is the major foodstuff for about half of the world, but is highly regulated.