Obama Steps Up
Written by Simon Johnson
WASHINGTON, DC – For the past six years, US President Barack Obama’s administration has, more often than not, sided with the interests of big banks on financial-sector policy. But this week, announcing a new proposal to prevent conflicts of interest in financial advising, Obama seemed to turn an important corner.
The DNA of German Foreign Policy
Written by Frank-Walter Steinmeier
BERLIN – The harsh reality of the past year has created unprecedented challenges for Germany and its foreign policy. The crisis in Ukraine spiraled out of control, with Russia’s annexation of Crimea, followed by military escalation in the eastern Donbas region, calling into question the post-1945 European order.
Why Public Investment?
Written by Michael Spence
MILAN – The world is facing the prospect of an extended period of weak economic growth. But risk is not fate: The best way to avoid such an outcome is to figure out how to channel large pools of savings into productivity-enhancing public-sector investment.
The age of adaptation
Written by Klaus Schwab
The world needs to stop looking backward. Since the 2008 financial crisis, we have wasted far too much energy trying to return to the days of rapid economic expansion. The flawed assumption that the post-crisis world's challenges were only temporary has underpinned policies that have yielded only lackluster recoveries, while failing to address key problems like high unemployment and rising inequality.
Earth Calling the Financial Sector
Written by Jeffrey D. Sachs and Hendrik J. du Toit
NEW YORK – Financial markets serve two crucial purposes: to channel savings toward productive investments, and to enable individuals and businesses to manage risks through diversification and insurance. As a result, the sector is essential to sustainable development, which represents unprecedented global-scale investment opportunities and risk-management challenges.