Opinion

It has been 10 years since the last financial crisis, and some have already started to predict that the next one is near. But when it comes, it will likely have its roots in Silicon Valley, not Wall Street. The world of finance looks very different today than it did 10 years ago. In 2007, our biggest concern was “too …

Now should be among the best of times to find a job. So why are so many Americans still not working? The answer might have something to do with the way employers hire. Demand for workers looks as strong as it has ever been. The US job openings rate stood at 4 percent in July, matching the highest point on …

If polls are correct, Angela Merkel is on track to win a record fourth term as German chancellor on September 24. The temptation, after such a long run of electoral success, is to keep the formula unchanged and carry on giving the voters what they want. The trouble is, what makes sense for Germany and its people isn’t quite what’s …

The Republicans are making yet another run at repealing Obamacare, this time with a bill sponsored by Republican senators Lindsey Graham, of South Carolina, and Bill Cassidy, of Louisiana. While this legislation doesn’t seem workable in its current form, as the old saying about Richard Wagner’s music goes, the bill is in some respects “better than it sounds.” Think of …

Whether you think of subprime mortgages or auto loans, there is little doubt that consumers were the symbol of the 2008 financial crisis. Since then, households have gone through a painful process of deleveraging, as central banks kept interest rates at rock bottom to help them pay back their debts. The same isn’t true for companies. As monetary authorities edge …

“Beware of Greeks bearing gifts,” wrote the ancient Roman poet Virgil. In the 21st century, it’s the Greeks who should have been more careful about accepting offerings—specifically from the International Monetary Fund, which is now torturing the country in a misguided effort to get its money back. Greek officials have worked hard to shore up their economy and finances. From …

The obvious interpretation of President Trump’s Dreamer deal with Democratic leaders is that he’s breaking promises to his supporters, especially in his suddenly diminished ambitions for the border wall. But what were those promises, precisely? And which ones matter the most to his presidency? The answer may be found in the work of political scientist Richard Fenno, whose formulation of …

If America is in decline, that message hasn’t gotten through to the world’s most powerful unelected officials. Central bank chiefs the world over still mostly look to the Federal Reserve for guidance and precedent. Same goes for the armies of analysts, investors and journalists who follow monetary policy for a living. I broached this theme on a visit to Asia …

The biggest increase in clothing prices on record is all down to the slump in sterling after the Brexit vote. That’s the obvious conclusion to draw from the Office for National Statistics’s report that clothing and footwear inflation picked up to 4.6 percent in in August. But it’s not quite right. Because retailers actually have more pricing power than you …

The term “butterfly effect” was coined to describe how a hurricane’s intensity could be influenced by the fluttering of a distant butterfly’s wings. In the wake of the recent devastation by Harvey and Irma, we may have to contend with the widespread reverse impact that hurricanes could have on global financial markets. The human tragedy of lost lives and the …