On India's Independence Day, Narendra Modi, the country's prime minister, delivered a forceful extemporaneous speech, calling for national unity in fighting poverty, improving sanitation, and protecting women from sexual violence. There was one area in which the speech fell short, though: economics. Contrary to Modi's campaign promises, his address included barely any pro-market content.
If European policymakers do not move quickly on issues of fiscal policy and a European banking union, the world should brace itself for another round of the European sovereign debt crisis once interest rates begin to rise.
In the game of telephone, a word or sentence becomes unrecognizable if enough people repeat it, especially when people are not trying hard to get it right. Jared Bernstein, Kenneth Austin, and Paul Krugman are playing telephone and misrepresenting the relationship between balance of trade accounts, GDP, and jobs.
The Export-Import Bank plays a useful role in sustaining a truly global marketplace in which firms compete based on productivity and service, without being subject to the frills of fussy governments. It deserves to be reauthorized.
Although supporting the Ukrainian economy may be a worthwhile geopolitical goal, relying on the IMF to provide funding for Ukraine risks undermining the IMF's credibility as a conditions-based lender and exacerbating the moral hazard problem for private creditors.
Washington and Beijing are ostensibly having serious discussions of a bilateral investment treaty to improve transparency and other aspects of the trans-Pacific investment environment. One hopes it's not really true, that the American side is just humoring the Chinese, because it's impossible at present to see such an agreement benefiting the US.
In response to a Financial Times editorial on Abenomics, Desmond Lachman suggests that the best policy prescription for Japan may be an even more activist policy of quantitative easing from the BoJ.
The AEI-Heritage Foundation China Global Investment Tracker follows Chinese investment all over the world. Through June 30 2014, the U.S. had received over $70 billion in Chinese investment. This is the most of any country, and much more could be on the way, likely breaching $100 billion in total by 2017 and continuing to rise (unsteadily) from there.
Please join us for the third-annual Walter Berns Constitution Day Lecture as James Ceasar, Harry F. Byrd Professor of Politics at the University of Virginia, explores some of the Constitution’s most significant contributions to political theory, focusing on themes that have been largely unexamined in current scholarship.
We invite you to join us for this year’s international conference on housing risk — cosponsored by the Collateral Risk Network and AEI International Center on Housing Risk — which will focus on new mortgage and collateral risk measures and their applications.
Please join us as Speaker John Boehner (R-OH) delivers his five-point policy vision to reset America’s economy.
Please join us as a panel of distinguished experts explore the implications of the report and the consumer role in shaping the future of Medicare.