Latin America’s Rising Right
Written by Mohamed A. El-Erian
LAGUNA BEACH – From changes in government in Argentina and Brazil to mid-course policy corrections in Chile, Latin American politics appears to be undergoing a rightward shift. But rather than being “pulled” by the attractiveness of the economic policies that the right is advocating, this complex phenomenon is predominantly a reflection of the “push” implied by anemic growth and the disappointing provision of public goods, especially social services.
America’s Second Chance with India
Written by Richard N. Haass
NEW YORK – Indian Prime Minister Narendra Modi’s visit to Washington, DC, in June garnered little public attention outside of India. Yet diplomats and military professionals in Asia and beyond were certainly watching closely. For good reason: the rapprochement between the world’s two most populous democracies could shape the world’s future.
Europe After Brexit
Written by Dominique Moisi
PARIS – US President Franklin D. Roosevelt once proclaimed that “the only thing we have to fear is fear itself.” The United Kingdom’s “Brexit” referendum, in which just over half of those who voted chose to leave the European Union, proved that he was not exactly right. We must also fear the people, like Britain’s populist leaders, who prey on public fears to bring about truly terrifying outcomes. In this case, the outcome may well lead to the EU’s disintegration.
The Meaning of Brexit
Written by Jeffrey D. Sachs
NEW YORK – The Brexit vote was a triple protest: against surging immigration, City of London bankers, and European Union institutions, in that order. It will have major consequences. Donald Trump’s campaign for the US presidency will receive a huge boost, as will other anti-immigrant populist politicians. Moreover, leaving the EU will wound the British economy, and could well push Scotland to leave the United Kingdom – to say nothing of Brexit’s ramifications for the future of European integration.
Could a Basic Income Help Poor Countries?
Written by Pranab Bardhan
BERKELEY – The old idea of recasting the welfare state by instituting an unconditional universal basic income has lately been capturing imaginations across the political spectrum. On the left, it is regarded as a simple and potentially comprehensive antidote to poverty. On the right, it is viewed as a means to demolish complex welfare bureaucracies while recognizing the need for some social transfer obligations in a way that doesn’t weaken incentives significantly. It also provides some assurance for the dreaded future when robots may replace workers in many sectors. But could it actually work?