The Covid-19 pandemic and the accompanying economic lockdowns have deepened inequality both within national borders and across the globe. Many low-income countries have suffered a severe economic contraction that has derailed budgets and created urgent financing needs. This has exacerbated debt-sustainability concerns, which were already high on the eve of the pandemic. Today, more than half of low-income countries eligible ...

Christine Lagarde has some explaining to do at European Central Bank meeting. Amid the fixed-income rout and soaring yields, the ECB has been far too cautious in using its most visible weapon: Quantitative Easing bond buying. The bank has bought only 12 billion euros ($14 billion), net of redemptions, over each of the last two weeks — short of the ...

Few things are as intellectually thrilling as watching an idea spring to life, capturing more and more minds until it becomes conventional wisdom. And there are few areas of law where this has been as pronounced as antitrust. Forty-three years ago, Robert Bork, who was a professor at Yale Law School at the time, wrote “The Antitrust Paradox,” which argued ...