Big government is not an economic burden

Why putting evidence before equations would make economics more like science

Stress tests were not stressful enough. The Eurozone now has to fight for survival

Governments should run deficits in recessions and surpluses in booms. That is the basic tenet of Keynesian economics. Deficits support demand and output during a slump, while surpluses tend to restrain a boom and pay for deficits run in the preceding cycle. It is both elegant and effective

Good economic thinking must provide multiple partial insights, based on varied analytical approaches

It needs to be explained why the euro remains the best protection there is against inflation

Ideas from systems science show that governments must manage the market

The International Monetary Fund, many say, has had a good crisis

Maybe. Its utility is diminished but world politics will be shaped
by it for some time

A new kind of debt will stem the impact of future crises

Damned if you do, damned if you don’t: the problems facing governments’ fiscal stimuli are numerous

Martin Feldstein ponders the possible benefits and consequences for a country leaving the EMU

NEW YORK – Every war is fought three times. First comes the political discussion over whether to start or enter it. Then comes the question of how to fight it. And, finally, there is consideration of what lessons should be learned from it

There are many problems with fossil fuels. They are expensive and a source of political and supply volatility. As consumption rises globally, the costs associated with them will probably rise sharply

While the US recently reported 3.5 percent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression is over, the American economy is actually much weaker than official data suggest