The Great Debate

Top 5 political predictions for 2015

By Bill Schneider
December 16, 2014

Hillary Clinton speaks on "Smart Power: Security Through Inclusive Leadership"  at Georgetown University in Washington

1. The Obama boom will finally arrive.  Only it will be more like a boomlet.

Americans have been waiting for the boom since they elected President Barack Obama in the teeth of the 2008 financial meltdown. After all, we elected Ronald Reagan during an economic downturn in 1980, and by his second term, the economy had turned around (“Morning in America”).  We elected Bill Clinton in an economic downturn in 1992, and by his second term, the economy had come roaring back (the “dot-com boom,” now known as the “dot-com bubble”).  Now we’re deep into Obama’s second term. Where’s da boom?

Manufacturing’s false promise of a decent payday

By Catherine Ruckelshaus and Sarah Leberstein
November 26, 2014

An employee works on the assembly line at the General Motors plant in Asaka

Manufacturing, economists say, is the key to our nation’s economic recovery.  

from Anatole Kaletsky:

Why political gridlock works for the U.S. economy, but not for Japan or EU

By Anatole Kaletsky
November 7, 2014

U.S. President Obama hosts a luncheon for bi-partisan Congressional leaders in the Old Family Dining Room at the White House in Washington

Is gridlocked government a betrayal of democracy? Or does it allow citizens to get on with their lives and businesses, unencumbered by meddlesome politicians?

from Nicholas Wapshott:

Yellen shows her hand

By Nicholas Wapshott
April 19, 2014

The difference between the Federal Reserve Board of Chairwoman Janet Yellen and that of her immediate predecessor Ben Bernanke is becoming clear. No more so than in their approach to the problem of joblessness.

from Nicholas Wapshott:

The EU-U.S. love-hate relationship

By Nicholas Wapshott
April 11, 2014

The elaborate gavotte between the American and European economies continues.

While the Federal Reserve has begun to wind down its controversial quantitative easing (QE) program, the European Central Bank (ECB) the federal reserve of the eurozone, has announced it is considering a QE program of its own.

Obama: Ineffectually Challenged

By Bill Schneider
April 2, 2014

President Barack Obama is in a funk. Americans are coming to see the president as ineffectual. That is a dangerous perception.

U.S. power: Down but still unrivaled

By Glenn Hubbard and Tim Kane
May 21, 2013

This essay is adapted from the author’s new bookBalance: The Economics of Great Powers from Ancient Rome to Modern America.”

Why public debt is not like credit card debt

By Robert Kuttner
January 14, 2013

One big part of the well-financed campaign for economic austerity is the contention that the public debt is like a national credit card. If we keep charging on it, the argument goes, we’ll get overwhelmed with interest costs, suffer a reduced standard of living and, pretty soon, go bankrupt.

from The Great Debate UK:

Fiscal cliff deal is depressingly European

January 4, 2013

--Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.--

The myth of America’s decline

By Michael Moran
April 12, 2012

This is an excerpt from “The Reckoning: Debt, Democracy and the Future of American Power,” published this week by Palgrave Macmillan.