Column Archive

On Nov. 24, two devastating and separate, but ultimately interrelated, incidents took place in far-flung corners of the world. First, at least 27 people perished while attempting to cross the turbulent waters of the English Channel, which separates France from the United Kingdom. The dead were migrants from Africa and the Middle East whose fragile, flimsy raft sank before it reached the U.K.’s shores. This was the deadliest migrant crossing across the channel ever recorded, but it is not an isolated incident. Attempted channel crossings have spiked since 2018, resulting in hundreds of deaths.  On the same day, more than […]

It’s never a good sign for a country’s leader when fluctuations in the value of the national currency become a dominant concern for everyday people. That is the case today in Turkey, where President Recep Tayyip Erdogan is taking a huge gamble with his monetary policy, setting a controversial interest rate policy that runs contrary to firmly established economic theory and has caused the local currency, the lira, to nosedive. Slashing the value of savings, spooking investors and further fueling inflation, the policy is already causing significant hardships for the Turkish people, who polls show have lost faith in the […]

As he watched his country flail early in the COVID-19 pandemic, the Nobel laureate economist Paul Romer argued that only by taking a dramatic, concerted step, carried out simultaneously nationwide, would the United States be able to stop the spread of the virus and contain its spiraling costs. At the time, in April 2020, Romer said that the United States should commit an estimated $100 billion dollars to a crash national testing program that would allow the quarantining of people who were positive and thereby stop the spread of the pathogen to others. This, he argued, was a pittance compared […]