January 4, 2017
PS Most-Read on Economics & World Affairs 2016
Political rage went global in 2016, fueling a populist backlash across the democratic world and appalling terrorist violence in the Middle East, Europe, and beyond. Here is a selection of commentaries – of the year’s 1,140 published by Project Syndicate – on the global political upheaval of the last 12 months, and its economic causes and consequences, that resonated most with our online readers. http://www.project-syndicate.org
From Din Merican to Mr. Donald J. Trump: What will Mr. Trump do to the World as he seeks to make America great again? We have to wait for just another 16 days for his Inauguration as the 45th President of the United States of America to find out if he is as smart as he thinks he is.
I have two things to say to him: 1. Stop thinking that you are OK and the rest of the world is not OK. We all can be OK. And 2. Stop Twitting and start making policy, and acting presidential. You, Mr. Trump, cannot solve the world’s problems, but your basic insecurity and arrogance can be a problem for all of us who want peace and prosperity.–Din Merican
Globalization and its New Discontents
Joseph Stiglitz explains why neoliberalism’s chickens are now coming home – to Europe and the US – to roost.
Central Banking Goes Negative
Stephen Roach inveighs against monetary policymakers’ decision to push interest rates south of the zero bound.
The Abdication of the Left
Dani Rodrik asks why the political backlash against globalization has come mainly from the nationalist right.
The Europe Question in 2016
Nouriel Roubini warns that the EU is in danger of becoming a geopolitical hot spot.
The Coming Anti-National Revolution
Robert Shiller argues that the next fight for justice will challenge the economic implications of the nation-state.
A Year of Sovereign Defaults?
Carmen Reinhart points to a wave of debt non-payment and restructuring that is looming on the horizon.
Brexit’s Impact on the World Economy
Anatole Kaletsky sees three reasons why a global crisis could ensue if the British vote on June 23 to leave the EU.
The End of the New Normal?
Mohamed El-Erian predicts that the world economy will reach another crossroads within three years.
Does Capitalism Cause Poverty?
Ricardo Hausmann takes issue with Pope Francis’s diagnosis of what ails poor countries.
Demonetization Dos and Don’ts
Gita Gopinath praises Indian Prime Minister Narendra Modi’s crackdown on “black money,” but questions his tactics.
Britain’s Democratic Failure
Kenneth Rogoff says that the real lunacy of the Brexit vote was the absurdly low bar for success.
Putin is No Ally Against ISIS
George Soros believes that Russia’s leader is intent on destroying the EU – and explains why he may succeed.
The Closing of the Academic Mind
Chris Patten warns that the main threat to universities in the West now comes from within.
The Meaning of Brexit
Jeffrey Sachs views the UK’s decision to leave the EU as a signal of the need for a new kind of globalization.
Goodbye to the West
Joschka Fischer sees little hope for the survival of the post-war global order under Donald Trump’s US presidency.
The Queen’s Chinese Guests from Hell
Nina Khrushcheva sees a deeper message in the “rude” behavior of President Xi Jinping’s entourage in London in 2015.
The Causes and Consequences of Brexit
Ana Palacio sees the UK’s referendum on EU reform, not the reform itself, as the main source of uncertainty.
Ban the Burkini?
Peter Singer thinks societies have a right to prohibit some cultural practices – within limits.
Russia’s Hybrid War Against the West
Guy Verhofstadt urges Europe to strengthen its defenses against Russian electoral meddling, before it’s too late.
ASEAN’s Destructive Elites
Yuriko Koike worries that Asia cannot afford the political challenges confronting Burma, Malaysia, and Thailand.