How to take Moral Hazard out of Banking
As Dubai World’s default shows, the financial crisis is far from over. Surprise, surprise, among the creditors with the biggest exposure is Royal Bank of Scotland – a reminder that reckless lending by supersized banks was a global phenomenon. Taxpayers are entitled to ask for a radical reform of banking regulation to ensure they will never again have to foot huge bills for financial folly. So far, there is only one credible proposal.... Read more

An Empire at Risk
We won the cold war and weathered 9/11. But now economic weakness is endangering our global power.... Read more

The Ascent of Money
The Ascent of Money - 2009 International Emmy Award recipient for Best Documentary... Read more

The Great Wallop
A FEW years ago we came up with the term “Chimerica” to describe the combination of the Chinese and American economies, which together had become the key driver of the global economy. With a combined 13 percent of the world’s land surface and around a quarter of its population, Chimerica nevertheless accounted for a third of global economic output and two-fifths of worldwide growth from 1998 to 2007.... Read more

The Year the World Really Changed
What exactly was the historical significance of Nov. 9, 1989? Having spent much of the summer of that year in Berlin, I have long bitterly regretted that I was not there to join in the party the night the wall came down. I mean, what kind of an aspirant historian misses history being made?... Read more

WALL STREET’S NEW GILDED AGE
A YEAR AFTER THE CRASH, A FEW FINANCIAL GIANTS ARE BACK TO MAKING MILLIONS, WHILE AVERAGE AMERICANS FACE FORECLOSURE AND UNEMPLOYMENT. WHAT’S WRONG WITH THIS PICTURE?... Read more