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J. Bradford DeLong shows that the end of scarcity does not mean the end of economic problems.
As humankind enters an age of abundance, the biggest challenge facing economists will no longer be to find the best ways to allocate scarce resources. Rather, it will be to help people protect themselves from manipulation.
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Barry Eichengreen answers what Bernie Sanders, Ted Cruz, and other US presidential hopefuls get wrong about US monetary policy.

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The silly season that is a US presidential election campaign has become particularly absurd as the candidates have offered their proposals for monetary-policy reform. Indeed, the radical nature of the current crop of schemes to change how the Fed operates is exceptional by historical standards.
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"We need to transform the way our societies function – and fast." Read why in the latest #oped by Kemal Derviş.
The impact that groundbreaking technological advances like artificial intelligence will have on the functioning of our economies and labor markets has been widely discussed for a long time. But proposals for coping with it do not reflect the true scale of the challenge ahead.
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Imposing sanctions may feel good. But +Kofi Annan et al. argue for a more refined way to change states' behavior. Read the full #oped:
The time has come for the great powers to reassess the value of economic sanctions as a diplomatic cudgel. Imposing sanctions may feel good; but the evidence indicates that, to achieve success and avoid unintended consequences, carefully calibrated sanctions must be pursued in tandem with political engagement.
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Keyu Jin, a professor of #economics at the London School of Economics, says larger families will propel the long-awaited shift in #China's growth model.
The impact of China's new two-child policy is likely to be just as far-reaching as that of its one-child policy – and, overall, much more positive. One key reason is that an increase in the number of children per household will force a reduction in the aggregate savings rate, thereby fulfilling a long-standing macroeconomic goal.
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"Russia is back, so the argument goes, because the world needs Russia. Such conclusions are premature. In practice, several key short-term issues must be resolved before the long-term goal of cooperation with Russia can be achieved."


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President Vladimir Putin’s decision to intervene in Syria marked a major turning point in Russian foreign policy in 2015. In the year ahead, the US should seek an alliance with Russia to defeat ISIS; but it should do so with no illusions about the probability of success – and real concerns about the cost of failure.
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We're already bombing Syria simultaneously, I would've expected the friendship to have already been forged. Both countries love disregarding the worth of human life :)
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Hernando de Soto argues that economic empowerment, not military intervention, is the only approach that can work. Read the full #oped:
It’s been 14 years since US President George W. Bush declared a “global war on terror.” Now that another president – François Hollande of France – has also declared war on terror (as have other European leaders), are the prospects for victory really any better?
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"How the Fourth Industrial Revolution progresses will come down to people, #culture, and values." – Klaus Schwab. Read the full #oped:
The Fourth Industrial Revolution that is underway can compromise humanity’s traditional sources of meaning – work, community, family, and identity – or it can lift humanity into a new collective and moral consciousness based on a sense of shared destiny. Which outcome emerges is up to us.
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Kenneth Rogoff expects El Niño to benefit Europe and the US, but hurt the developing world.

#Harvard #ElNino #Oped
Until recently, the usual thinking among macroeconomists has been that short-term weather fluctuations don’t matter much for economic activity. But recent economic research, bolstered by an exceptionally strong El Niño, has prompted reconsideration of this view.
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Cooperation and responsible citizenship can break the global economy's toxic cycles:

"The current non-system is pushing the world toward competitive monetary easing, to no one’s ultimate benefit. Developing a consensus for free trade and responsible global citizenship would set the stage for the sustainable growth the world desperately needs."

– Raghuram Rajan, Governor of the Reserve Bank of India
As 2015 ends, the world boasts few areas of robust growth. At a time when both developed and emerging-market countries need rapid growth to maintain domestic stability, this is a dangerous situation.
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#Princeton University Prof Harold James challenges #Brexit supporters.

"It is far from clear that the UK is a good example of the sort of nation-state that many Europhobes claim is the most desirable form of political organization."
The upcoming referendum on the United Kingdom’s membership in the EU, almost certain to be held this year, could turn out to be yet another major catastrophe to hit Europe. If, as seems increasingly plausible, British voters chose to leave, the result would be a profoundly destabilized EU – and a shattered UK.
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Automation and outsourcing are slowing global growth, argues Kaushik Basu.

"This 'persistent recession,' as well as some of the world’s political conflicts, are manifestations of a deeper shift in the global economy – a shift driven by two kinds of innovations: labor-saving and labor-linking."

The ongoing global economic slowdown, which began in 2008 with the financial crisis in the United States, could set a new endurance record. What is certain is that with growth stalling in Japan and slowing in China, and with Russia in deep crisis and the eurozone still barely recovering, the world economy is not yet out of the woods.
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The world's pre-eminent source of original op-ed commentaries.
Introduction
                 
Project Syndicate is the world's pre-eminent source of original op-ed commentaries. A unique collaboration of distinguished opinion makers from every corner of the globe, Project Syndicate provides incisive perspectives on our changing world by those who are shaping its politics, economics, science, and culture.

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