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U.S.-Iran confrontation puts the EU in a quandary
The European Union has hoped to make Iran an important part of its energy security scheme and still backs the nuclear deal with Tehran from which the United States has withdrawn. As the world’s fifth largest and OPEC’s third-largest oil producer gropes for ways to circumvent American sanctions against its ...
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Getting inequality wrong
Thomas Piketty captured something essential in the post-Lehman mood with his study of income and wealth differentials in the developed world. More’s the pity that his policy recommendations are misguided, in part because he missed the worst kind of inequality. During periods of economic crisis and slow growth, concerns ab...
Troubled Algeria faces three-pronged crisis, potential collapse
Algeria has not been in such dire straits since it declared independence from France in 1962. The challenges the country faces today make its “bloody decade” during the 1990s, when conflict with the Armed Islamic Group (AIG) killed tens of thousands, seem like a time of stability and prosperity. It ...
Productivity is no free lunch
Europe is worried about low and declining productivity growth. Most politicians and experts have a simple solution: more high-tech investments and more education, especially for young people. But it is questionable whether this proposed fix is realistic or will bring about the desired outcome. The educational visions that...
Central Europe is headed for turbulence, not Putinization
Recent political developments in Hungary and Poland have been interpreted as portending a reversal of westernization. If history is any guide, this perception is wrong. It is true that the region appears headed for institutional turbulence that could foster growing political and economic volatility. But a more serious upheaval is ...
