The West, it’s obvious, faces a migration crisis. Across the aging, stagnating economies of the developed world, citizens are revolting against what many perceive as an uncontrolled influx of foreigners. The U.S. apart, most of these economies are also facing a prolonged crisis of growth. Under other circumstances, the solution would be obvious: restore vitality by taking in …

Over the past couple decades, the Bank of Japan has tried time and again to get interest rates up from zero, only to discover that the zero bound has a peculiarly strong gravitational pull. Although I hope the new measures it announced this week will help, its past experience holds an important lesson for central banks everywhere. When interest rates …

  As the Organization of the Petroleum Exporting Countries (OPEC) braces to meet in Algiers on September 28, there are pressures from different corners on the group to take a decision on oil supply. However, the OPEC has to take a very cautious approach. Any hasty step or quick fix to limit the production to raise the crude price may …