Project Syndicate

The World Needs a New Economics of Water Mariana Mazzucato proposes a radical change in perspective toward humanity's most precious resource.

The world faces an unprecedented water crisis that demands a paradigm shift in how we value and govern our most precious resource, @mazzucatom.bsky.social warns.

Stop the Children Peter Singer & David Benatar discuss the rationale for anti-natalism and what is morally permissible in pursuing it.

If it is wrong to bring children into the world, does it follow that it is justifiable to prevent others from doing that? asks @petersinger.info in a discussion with leading anti-natalist David Benatar.

The 80th anniversary of the atomic bombings of Hiroshima and Nagasaki offers a sobering reminder of the ironies that define the nuclear age, writes @jrhuntx.bsky.social. bit.ly/45nPVUf

Stagflation Is Hitting Russia’s War Economy Anders Åslund identifies several factors that will weigh on growth and continue to drive up prices.

Although Russia’s economy is unlikely to collapse, it is fast approaching a fiscal crunch that will encumber its war effort, @andersaslund.bsky.social writes.

South Africa’s Elites Are Jeopardizing Its Democracy Koketso Moeti thinks more must be done to improve public services, keep money out of politics, and prevent corporate greed.

The South African government has reduced spending on public services over the last decade, paving the way for privatization and deepening inequality, notes @kettering.org fellow Koketso Moeti.

Rare Earths Are China’s Trump Card Angela Huyue Zhang shows why overwhelming Chinese dominance of the sector limits US options in the countries' trade war.

The United States must confront an uncomfortable truth, Angela Huyue Zhang writes. China’s dominance in rare earths is likely to endure for the foreseeable future.

Rethinking Development in an Era of Upheaval Mohamed A. El-Erian lists four priorities that developing countries should embrace – and multilateral institutions should support.

If developing countries fail to create the conditions necessary for the efficient and equitable diffusion of innovation throughout their economies, they risk falling further behind, @elerianm.bsky.social argues.

Fascism at the Gate in Poland Sławomir Sierakowski sees the inauguration of a far-right president as the harbinger of a broader trend.

Poland's new far-right president has already announced his intention to topple Donald Tusk's liberal government. The future of Polish democracy is now very much in doubt, @sierakowski.bsky.social warns.

Trump Must Appoint a Nonpartisan Statistics Chief Michael R. Strain explains why a robust economy depends on public confidence in the integrity of official data.

Donald Trump should think twice before attempting to install a lackey at the Bureau of Labor Statistics, because undermining trust in government data could have cascading effects throughout the US economy, @michaelrstrain.bsky.social argues.

The US Economy Will Thrive in Spite of Trumponomics Nouriel Roubini expects a tech-driven growth boom to outweigh the effects of stagflationary policies.

America’s economic outlook will be determined by its uniquely dynamic private sector, not by Donald Trump's stagflationary policies, Nouriel Roubini predicts.

Bangladesh Is a South Asian Time Bomb Brahma Chellaney describes a country gripped by repression, lawlessness, and escalating Islamist violence.

Far from delivering the promised democratic transition, Bangladesh's interim government has overseen intensifying repression, widespread lawlessness, and escalating Islamist violence, laments Brahma Chellaney.

Is Trump Winning on Economic Policy? Kenneth Rogoff thinks the administration’s early momentum hides lasting damage to American and global institutions.

Donald Trump has managed to impose his will on US economic policy more forcefully than any post-World War II president, with the possible exception of Ronald Reagan, observes Kenneth Rogoff.

But winning is not the same as succeeding.

Europe’s Economic Surrender Alberto Alemanno warns that by avoiding confrontation, the EU has effectively abandoned its quest for strategic autonomy.

Trump’s ability to extract sweeping economic concessions and defense-spending commitments shows how effectively the US can weaponize Europe’s security anxieties to pursue broader geopolitical objectives.

@projectsyndicate.bsky.social prosyn.org/n57MomZ

The Crypto Crises Are Coming Simon Johnson warns that new US legislation leaves the industry just where it wants to be: without regulatory safeguards.

In its eagerness to do the crypto industry’s bidding, the US Congress is adopting legislation that will expose Americans and the world to the real possibility of massive job losses and wealth destruction, warns Nobel laureate @simonhrjohnson.bsky.social.

The Politics America Needs Now Anne-Marie Slaughter highlights the potential of collaborative efforts to revitalize civic responsibility and shared purpose.

Over the past five years, reformers from the political left, center, and right have launched new initiatives aimed at reforming America’s two-party system. Unsurprisingly, many of them reject traditional partisan labels, notes @slaughteram.bsky.social.

The Crisis of the Chinese Family Nancy Qian highlights the economic, social, and political risks raised by China’s collapsing fertility rates.

Plummeting fertility rates have thrown the Chinese family into crisis, observes Nancy Qian, putting China’s economy, society, and polity at risk of upheaval.

Rather than protecting the stability and integrity of the international system, US foreign policy now appears geared toward extracting resources from adversaries and allies alike, write Moreno Bertoldi and Marco Buti. bit.ly/46CbWRF

Even if Donald Trump doesn’t make good on his threat to fire the Federal Reserve Chair Jerome Powell, his actions could significantly erode the central bank’s independence.

Read more in a new PS Big Picture, with @michaelrstrain.bsky.social, Harold James, and others. bit.ly/3U8OKmr

Can Europe and China Forge a Climate Connection? Emmanuel Guerin & Bernice Lee tout a shared competitiveness agenda as a way for both sides to reap the full benefits of green growth.

Instead of responding to China’s green-tech dominance with defensive industrial policy, the EU should pursue a partnership anchored in ambitious climate delivery, explain Emmanuel Guerin and Bernice Lee.

The US-India Relationship Is Changing Again Shashi Tharoor anticipates the rise of a more transactional bilateral relationship, shaped less by ideals than interests.

Where India fits into Donald Trump's calculations vis-à-vis China – if it factors in at all – is a mystery, observes @drshashitharoor.bsky.social.

India is adjusting accordingly.

Are Economists Architects or Auditors? Ricardo Hausmann laments how the field’s appetite for imaginative problem-solving has given way to narrow, testable hypotheses.

In recent decades, economists have embraced an auditor mindset, which has turned them into professional naysayers, more focused on rejecting bad ideas than generating new ones, writes Ricardo Hausmann.

Populism Comes to Japan Ian Buruma assesses the factors that enabled the far-right Sanseitō party to gain seats in the upper house.

Despite harping on some of the key themes animating far-right ideology, Japan’s populists are working with a different set of circumstances than their counterparts in other countries, Ian Buruma argues.

AI Is Not Your Friend Peter G. Kirchschläger warns against trusting algorithmic surrogates that cannot grasp the ethical implications of their actions.

What we call “artificial intelligence” is merely a set of technical tools that mimic certain cognitive functions. AI systems lack true comprehension, and marketing that suggests otherwise must be rejected, writes Peter G. Kirchschläger.

Europe’s Economic Surrender Alberto Alemanno warns that by avoiding confrontation, the EU has effectively abandoned its quest for strategic autonomy.

The humiliating US-EU tariff deal has validated Trump’s transactional approach, emboldening other global powers eager to turn trade into an instrument of geopolitical coercion, argues @alemanno.bsky.social.

How Central Banks Jeopardized Their Independence Otmar Issing implores monetary policymakers to focus on ensuring price stability and not try to expand their mandates.

For years, central-bank independence was taken for granted. But that era seems to be over, partly owing to monetary authorities’ own actions, Otmar Issing writes.

In a bid to boost birth rates, China is now offering parents $500 per year for each child under the age of three. But according to Yi Fuxian, China has little chance of escaping its bleak demographic destiny, no matter what it does. bit.ly/41hRRwd

Are Trump’s Criticisms of Fed Policy Based on Economic Conditions? Jeffrey Frankel uncovers the "logic" behind the US president's criticisms of the Federal Reserve's monetary policy.

In Donald Trump’s world, there is no Taylor rule or anything like it, concludes Jeffrey Frankel. There is only a predictable demand for lower interest rates when he thinks it will make him look good. bit.ly/3J7xwU7

Why Americans and Europeans Disagree About Globalization Daniel Gros attributes diverging views on trade to differences in institutions, social resilience, and political narratives.

Donald Trump and the #EU have reached a trade deal, which includes 15% tariffs on most US imports from Europe and requires the EU to invest in US energy products. Earlier this month, Daniel Gros explained why the backlash against free trade has been so much sharper in the US than in Europe.

My latest column for @projectsyndicate.bsky.social, this time about Brazil.

Currency Dominance in the Digital Age Hélène Rey foresees a potentially destabilizing reshuffling of global monetary power shaped by "data integrity."

The rise of stablecoins, tokenized assets, and central bank digital currencies fundamentally changes the logic of global monetary competition, observes @helene-rey.bsky.social. Preserving monetary stability in such a landscape will be no easy feat. bit.ly/471Oq0m