Soft Power and Hard Facts

zygmuntbauman

Joseph S. Nye Jr. has turned upside down Machiavelli’s infamous recommendation to the Prince: it is safer when people fear you than when they love you… Whether or not that recommendation was right for the Princes, remains a moot question; but it no longer makes sense for presidents and prime ministers. Nye would agree that [...]

Britain in Europe: A Tragedy in the Making?

hannay

Veterans of Britain’s turbulent relationship with the European Union could be forgiven for thinking that recent developments in that saga were a case of déjà vu all over again. But it is, potentially at least, a good deal worse than that. Support for British membership has been damaged by the Eurozone crisis; many people are [...]

Ideas over Interests

rodrik

The most widely held theory of politics is also the simplest: the powerful get what they want. Financial regulation is driven by the interests of banks, health policy by the interests of insurance companies, and tax policy by the interests of the rich. Those who can influence government the most – through their control of [...]

How Europe’s Double Dip Could Become America’s

robert-reich

Europe is in recession. Britain’s Office for National Statistics confirmed that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage make a recession). On Monday Spain officially fell into recession, for the second time in three [...]

The Dollar: Exorbitant or Extortionate Privilege?

john ryan

The US Dollar has probably been the closest thing to a true global currency that the world has ever seen. For decades, the use of the US Dollar has been absolutely dominant in international trade. This has had tremendous benefits for the US financial system and for US consumers, and it has given the US [...]

What Turkey’s Political-Military Trials reveal about the Country’s Democracy

rodrik

To understand what is happening in Turkey’s murky world of judicial politics these days, it helps to imagine you are watching the closing scenes of a Hollywood courtroom drama. The movie’s protagonist stands accused of attempted murder. The prosecutor has produced a set of elaborate plans that the defendant allegedly drew up to poison an [...]

The Challenges of a Multipolar World

sachs

The annual spring meetings of the International Monetary Fund and the World Bank have provided a window onto two fundamental trends driving global politics and the world economy. Geopolitics is moving decisively away from a world dominated by Europe and the United States to one with many regional powers but no global leader. And a [...]

Iran’s Last Chance?

javier solana

The latest round of negotiations on Iran’s nuclear program between Iran and the so-called “5+1” group (the United Nations Security Council’s five permanent members – the United States, the United Kingdom, Russia, France, and China – plus Germany) has now begun. Following more than a year of deadlock, after negotiations in January 2011 led nowhere, [...]

The Persian Knot

AM Joschka Fischer

The negotiations between Iran and the five permanent members of the United Nations Security Council, plus Germany, over Iran’s nuclear program are entering a new, and probably decisive, stage. The negotiations have been going on for almost a decade, with long interruptions, and whether a breakthrough will come this time is anyone’s guess. But the [...]

Erdogan’s Dilemma

Rodrik

Imagine you are the leader of a regional power, basking in the glow of global attention to your political and economic success. You have managed to consolidate your power by outmaneuvering your opponents, most critically the military with its habit of pushing out governments not of its liking.  You are celebrated the world over as [...]

Scary Oil

nouriel-roubini

Today’s fragile global economy faces many risks: the risk of another flare-up of the eurozone crisis; the risk of a worse-than-expected slowdown in China; and the risk that economic recovery in the United States will fizzle (yet again). But no risk is more serious than that posed by a further spike in oil prices. The [...]

The Inequality Trap

kemal dervis

As evidence mounts that income inequality is increasing in many parts of the world, the problem has received growing attention from academics and policymakers. In the United States, for example, the income share of the top 1% of the population has more than doubled since the late 1970’s, from about 8% of annual GDP to [...]