In 1949, Japan was a wreck. Four years had passed since the end of World War II, but the economy was still moribund. The major cities, flattened and burned during the war, remained mostly unreconstructed. more ››
For the third year in a row, the eurozone is the weakest link in the world economy. In 2010, attention was focused on responses to the crisis on the eurozone periphery – Greece, Portugal, and Ireland. In 2011, the crisis moved... more ››
Martial music booms from the loudspeakers as warlike images gallop across monitors. A short euro crisis film montage shows police officers being posted in front of the parliament building in Athens and the jostling of frantic... more ››
Germany must have a free-trade zone in Europe. Germany also needs robust demand in Europe. Germany also wants prudence in borrowing practices. And Germany must not see a return to the anti-German feeling of previous epochs.... more ››
However flawed Greece's economy and political system might be, it would ill-advised to hand it sole blame for the present crisis. The crisis is a consequence of the utopian overreach of those who believed that European... more ››