If IMF estimates are accurate, this will be the first time since the Great Depression that both advanced and emerging economies could be in recession. The potential of unemployment rising to double digits is also reminiscent of the depression of the 1930s. Some of the great economic ideas of our time were forged in the experience of that previous economic ...

So orderly, so nit-picking, so German. This week, Germany’s constitutional court in Karlsruhe finally delivered its verdict on the European Central Bank’s (ECB) most prominent bond-buying program. Weighing in at 110 pages, this ruling was historic. For the first time, a national court in effect overruled the European Court of Justice in Luxembourg. Well spaced out because of the new ...

Asia has a new public emergency: breathing life into moribund economies. Months after severely curtailing social and commercial activity in a bid to contain Covid-19, governments are scrambling to reboot activity. They confront a coronavirus that isn’t out of business but economies that very nearly are. The policy priority is shifting from suppressing infections at almost any cost to combating ...