Opinion

Among the many things it does, the federal government is one of the nation’s largest lenders. It lends to farmers, homeowners, students, small businesses, exporters and rural electric utilities, among others. Altogether, there are more than 100 loan programs administered by 20 agencies overseeing lending worth $3.4 trillion in fiscal 2015, up from $1.5 trillion in 2007. These fascinating figures ...

Britain has long stood accused of being run by a small clique of privately educated aristocrats. At least in one sphere the accusation is unfair: Few countries are so open-minded when it comes to appointing the men and women who take some of the most crucial decisions for the future of the economy. The Bank of England’s rate-setting monetary policy ...

The deal struck last week between Greece and its euro-zone creditors is business as usual — and that’s not a good thing. This protracted game of “extend and pretend” serves nobody’s long-term interests: not those of the Greek government, the International Monetary Fund or, most of all, the people of Greece. Euro-zone finance ministers have unlocked a payment of 8.5 ...

When the US government announced a ban on carry-on laptops and other gadgets for certain flight routes in March, the policy made little sense. In the months since, it has only grown more bewildering. At the moment, the ban applies to large electronic devices on flights originating at 10 airports in the Middle East and North Africa. It may be ...

In 1859, when Manhattan still had many farms, near the Battery on the island’s southern tip The Great American Tea Company was launched. It grew, and outgrew its name, becoming in 1870 The Great Atlantic & Pacific Tea Company, (A&P) which in 1912 begat the first A&P Economy Store, a semi-modern grocery store. By 1920, there were 4,500 such stores; ...

Jaguar Land Rover (JLR) is scouting for a new address with a little more space for valuations. It’s good to shop around, even though luxury carmakers don’t get the admiration on stock exchanges that their products attract on the streets. What’s questionable, though, is the timing. Being parked inside the Mumbai garage of Tata Motors Ltd, its owner for the ...

In the culmination of a long-running saga, MSCI Inc. recently announced that it would include some Chinese stocks in its widely used benchmark indexes, starting next year. China has taken this as recognition of its growing economic and financial might. But the decision seemed to have almost nothing to do with the reality of China’s financial markets. For one thing, ...

Ever since Donald Trump’s election, a cottage industry of politicians, journalists, scholars and commentators has sought to understand what motivates Trump supporters. Theories have ranged from globalization to a rebellion against Washington elitism to racism. But the true cause may have been overlooked: the “postindustrial society.” It has imposed on the economy a wage structure that systematically generates inequality between ...

Fifty-six years. That’s how long it would take if the one dozen companies the Indian central bank is pushing into bankruptcy were to repay creditors by handing over their entire current operating income. For India’s capital-starved commercial lenders, at the receiving end of much of this $37 billion of unpaid debt, waiting for even 56 days without a resolution isn’t ...

With its 98-2 vote to expand sanctions against Russia, the U.S. Senate has effectively served notice on two great powers in Washington: Russia, which may have to face new costs for its meddling in the 2016 U.S. election; and President Donald Trump, who will have to contend with congressional input on U.S. policy towards Russia. The bill, which also strengthens ...