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18.8v.3h-21.9Zm-.2-1.7 10.8-.6c0-9.2-1.6-15.3-4.8-15.3-3.3 0-6 7-6 16Z"></path></svg><span class="dcr-1p0hins">The Guardian</span></a></div><input type="checkbox" id="header-nav-input-checkbox" name="more" tabIndex="-1" aria-hidden="true" role="button" aria-expanded="false" aria-haspopup="true" class="dcr-1acea34"/><div class="dcr-1p1neil"><ul class="dcr-1d6g26q"><li class="dcr-1grikph"><a href="/" style="--pillar-underline:#FF5943;" id="navigation" data-link-name="header : titlepiece : nav : primary : News" class="dcr-1iufw7r">News</a></li><li class="dcr-ks441s"><a href="/commentisfree" style="--pillar-underline:#FF7F0F;" data-link-name="header : titlepiece : nav : primary : Opinion" class="dcr-7612kl">Opinion</a></li><li class="dcr-ks441s"><a href="/sport" style="--pillar-underline:#00B2FF;" data-link-name="header : titlepiece : nav : primary : Sport" class="dcr-7612kl">Sport</a></li><li class="dcr-ks441s"><a href="/culture" style="--pillar-underline:#EACCA0;" data-link-name="header : titlepiece : nav : primary : Culture" class="dcr-7612kl">Culture</a></li><li class="dcr-1kcody2"><a href="/lifeandstyle" style="--pillar-underline:#FFABDB;" data-link-name="header : titlepiece : nav : primary : Lifestyle" class="dcr-7612kl">Lifestyle</a></li></ul></div><div class="dcr-1hrapdy"><label id="header-veggie-burger" aria-label="Toggle main menu" for="header-nav-input-checkbox" data-link-name="header : veggie-burger : show" tabIndex="0" role="button" data-testid="veggie-burger" class="dcr-1xv1515"><span class="dcr-b3mn8w"><span class="dcr-1nvgr5i">Show more</span><svg width="26" viewBox="-3 -3 30 30" xmlns="http://www.w3.org/2000/svg" aria-hidden="true"><path fill-rule="evenodd" clip-rule="evenodd" d="M23 7V5H1v2zm0 6v-2H1v2zm0 6v-2H1v2z" fill="var(--masthead-veggie-burger-icon)"></path></svg></span><span class="dcr-li5n90"><span class="dcr-1nvgr5i">Hide expanded menu</span><svg width="26" viewBox="-3 -3 30 30" xmlns="http://www.w3.org/2000/svg" aria-hidden="true"><path fill-rule="evenodd" clip-rule="evenodd" d="M12.015 14.042 20.707 22 22 20.709 14.06 12 22 3.291 20.707 2l-8.692 7.958L3.293 2.03 2 3.321 9.97 12 2 20.679l1.293 1.291z" fill="var(--masthead-veggie-burger-icon)"></path></svg></span></label></div><div id="header-expanded-menu-root" class="dcr-1ef3v4m"><div id="header-expanded-menu" data-testid="expanded-menu" class="dcr-14vdg2"><div class="dcr-1srap2j"><div class="dcr-10y96fo"><ul role="menubar" data-testid="nav-menu-columns" class="dcr-6sl420"><li role="none" class="dcr-lpsfc3"><script>document.addEventListener('DOMContentLoaded', function(){ var columnInput = document.getElementById('News-button'); if (!columnInput) return; // Sticky nav replaces the nav so element no longer exists for users in test. columnInput.addEventListener('keydown', function(e){ // keyCode: 13 => Enter key | keyCode: 32 => Space key if (e.keyCode === 13 || e.keyCode === 32) { e.preventDefault() document.getElementById('News-checkbox-input').click(); } }) })</script><input type="checkbox" id="News-checkbox-input" tabIndex="-1" aria-hidden="true" class="dcr-1acea34"/><label id="News-button" aria-label="Toggle News" for="News-checkbox-input" aria-haspopup="true" aria-controls="newsLinks" tabIndex="-1" role="menuitem" data-testid="column-collapse-News" data-link-name="header : secondary : News" class="selectableMenuItem dcr-o6rk0u">News</label><ul role="menu" id="newsLinks" data-testid="newsLinks" class="dcr-11vt4tq"><li role="none" class="dcr-9ra8aa"><a href="/" role="menuitem" data-link-name="header : secondary : View all News" data-testid="column-collapse-sublink-News" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">View all News</a></li><li role="none" class="dcr-4hq641"><a href="/world" role="menuitem" data-link-name="header : secondary : World news" data-testid="column-collapse-sublink-World" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">World news</a></li><li role="none" class="dcr-4hq641"><a href="/us-news/us-politics" 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}) })</script><input type="checkbox" id="Sport-checkbox-input" tabIndex="-1" aria-hidden="true" class="dcr-1acea34"/><label id="Sport-button" aria-label="Toggle Sport" for="Sport-checkbox-input" aria-haspopup="true" aria-controls="sportLinks" tabIndex="-1" role="menuitem" data-testid="column-collapse-Sport" data-link-name="header : secondary : Sport" class="selectableMenuItem dcr-10b2o1s">Sport</label><ul role="menu" id="sportLinks" data-testid="sportLinks" class="dcr-wp8bgr"><li role="none" class="dcr-9ra8aa"><a href="/sport" role="menuitem" data-link-name="header : secondary : View all Sport" data-testid="column-collapse-sublink-Sport" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">View all Sport</a></li><li role="none" class="dcr-4hq641"><a href="/football" role="menuitem" data-link-name="header : secondary : Football" data-testid="column-collapse-sublink-Football" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">Football</a></li><li role="none" class="dcr-4hq641"><a href="/sport/cricket" role="menuitem" data-link-name="header : secondary : Cricket" data-testid="column-collapse-sublink-Cricket" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">Cricket</a></li><li role="none" class="dcr-4hq641"><a href="/sport/rugby-union" role="menuitem" data-link-name="header : secondary : Rugby union" data-testid="column-collapse-sublink-Rugby union" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">Rugby union</a></li><li role="none" class="dcr-4hq641"><a href="/sport/tennis" role="menuitem" data-link-name="header : secondary : Tennis" data-testid="column-collapse-sublink-Tennis" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">Tennis</a></li><li role="none" class="dcr-4hq641"><a href="/sport/cycling" role="menuitem" data-link-name="header : secondary : Cycling" data-testid="column-collapse-sublink-Cycling" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">Cycling</a></li><li role="none" class="dcr-4hq641"><a href="/sport/formulaone" role="menuitem" 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key | keyCode: 32 => Space key if (e.keyCode === 13 || e.keyCode === 32) { e.preventDefault() document.getElementById('Culture-checkbox-input').click(); } }) })</script><input type="checkbox" id="Culture-checkbox-input" tabIndex="-1" aria-hidden="true" class="dcr-1acea34"/><label id="Culture-button" aria-label="Toggle Culture" for="Culture-checkbox-input" aria-haspopup="true" aria-controls="cultureLinks" tabIndex="-1" role="menuitem" data-testid="column-collapse-Culture" data-link-name="header : secondary : Culture" class="selectableMenuItem dcr-x5fwww">Culture</label><ul role="menu" id="cultureLinks" data-testid="cultureLinks" class="dcr-1yytfii"><li role="none" class="dcr-9ra8aa"><a href="/culture" role="menuitem" data-link-name="header : secondary : View all Culture" data-testid="column-collapse-sublink-Culture" tabIndex="-1" class="selectableMenuItem dcr-1julzi7">View all Culture</a></li><li role="none" class="dcr-4hq641"><a href="/books" role="menuitem" data-link-name="header : 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document.getElementById('Lifestyle-button'); if (!columnInput) return; // Sticky nav replaces the nav so element no longer exists for users in test. columnInput.addEventListener('keydown', function(e){ // keyCode: 13 => Enter key | keyCode: 32 => Space key if (e.keyCode === 13 || e.keyCode === 32) { e.preventDefault() document.getElementById('Lifestyle-checkbox-input').click(); } }) })</script><input type="checkbox" id="Lifestyle-checkbox-input" tabIndex="-1" aria-hidden="true" class="dcr-1acea34"/><label id="Lifestyle-button" aria-label="Toggle Lifestyle" for="Lifestyle-checkbox-input" aria-haspopup="true" aria-controls="lifestyleLinks" tabIndex="-1" role="menuitem" data-testid="column-collapse-Lifestyle" data-link-name="header : secondary : Lifestyle" class="selectableMenuItem dcr-yq9plo">Lifestyle</label><ul role="menu" id="lifestyleLinks" data-testid="lifestyleLinks" class="dcr-1utnfys"><li role="none" class="dcr-9ra8aa"><a href="/lifeandstyle" role="menuitem" 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data-component="21-november-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/nov/21/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">21 November 2024</h2></a></div></div></div><div id="container-21-november-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/us-news/2024/nov/21/donald-trump-tax-cuts-elon-musk-doge-us-debt" data-link-name="comment | group-0 | card-@1" aria-label="Trump’s tax cuts and Musk’s Doge show they have no idea about US debt" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Elon Musk and Donald Trump " src="https://i.guim.co.uk/img/media/9b243034b1d1a77b56e6e078803248e84171faab/0_75_4320_2592/master/4320.jpg?width=240&dpr=1&s=none&crop=none" loading="eager" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Trump’s tax cuts and Musk’s Doge show they have no idea about US debt</span></h3><span class="dcr-pyxv1k">Jeffrey Frankel</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>It is often said the tycoons know how to put America’s fiscal house in order – but the smart money says that’s not the case</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-11-21T17:38:03.000Z" data-locale="en-gb" title="Thursday 21 November 2024 at 17:38 Greenwich Mean Time">21 Nov 2024 17.38 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--top-above-nav--mobile" data-link-name="ad slot top-above-nav" 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href="/business/article/2024/sep/05/donald-trump-us-economy-coal-oil-elon-musk-peter-thiel" data-link-name="comment | group-0 | card-@2" aria-label="Trump would make the US economy weaker, less competitive and less equal" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-1j6t3k2"><div class="dcr-6beg42"><div class="dcr-hct2iq"><picture class="dcr-1gesx20"><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=140&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=140&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=75&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=75&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Joseph Stiglitz" src="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=75&dpr=1&s=none&crop=none" class="dcr-1yduq3m"/></picture></div></div><div class="dcr-17qj1mj"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Trump would make the US economy weaker, less competitive and less equal</span></h3><span class="dcr-pyxv1k">Joseph Stiglitz</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Former president offers blank cheque to coal and oil, and cosies up to billionaires such as Elon Musk and Peter Thiel</div></div></span></div><div></div></div></div><div style="padding:0px;"><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-09-05T06:00:01.000Z" data-locale="en-gb" title="Thursday 5 September 2024 at 07:00 British Summer Time">5 Sept 2024 07.00 BST</time></span></footer></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><div class="top-fronts-banner-ad-container dcr-12mgsnl"><div class="ad-slot-container dcr-dk0wj3"><div id="dfp-ad--fronts-banner-1" data-link-name="ad slot fronts-banner-1" data-name="fronts-banner-1" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--fronts-banner-1 ad-slot--rendered false dcr-aygtuk"></div></div></div><section id="13-august-2024" data-link-name="container-2 | 13-august-2024" data-component="13-august-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/aug/13/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">13 August 2024</h2></a></div></div></div><div id="container-13-august-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/environment/article/2024/aug/13/donald-trump-paris-climate-treaty-kamala-harris-china" data-link-name="comment | group-0 | card-@3" aria-label="Trump would pull out of Paris climate treaty again – and Harris faces tough choices " class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="A flare burns natural gas at an oil well" src="https://i.guim.co.uk/img/media/5f9585753ef8ca8a94c8612446c875fc7632ca7e/0_163_6000_3600/master/6000.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Trump would pull out of Paris climate treaty again – and Harris faces tough choices </span></h3><span class="dcr-pyxv1k">Barry Eichengreen</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>If elected, the Democrat is likely to face a trade-off over manufacturing jobs and economic independence from China</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-08-13T05:00:03.000Z" data-locale="en-gb" title="Tuesday 13 August 2024 at 06:00 British Summer Time">13 Aug 2024 06.00 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-90inr0"><div class="ad-slot-container dcr-17n294h"><div id="dfp-ad--merchandising-high" data-link-name="ad slot merchandising-high" data-name="merchandising-high" data-refresh="false" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--merchandising-high dcr-ivr0sq"></div></div></span><section id="25-july-2024" data-link-name="container-3 | 25-july-2024" data-component="25-july-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/jul/25/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">25 July 2024</h2></a></div></div></div><div id="container-25-july-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/article/2024/jul/25/us-shares-gold-dollar-artificial-intelligence-tech-sector" data-link-name="comment | group-0 | card-@4" aria-label="Why have US shares, gold and the dollar been soaring?" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="24-carat gold bars at the US West Point Mint facility in West Point, New York" src="https://i.guim.co.uk/img/media/3a53388301e1fc4dc875f908f2f364e549826507/14_182_2943_1767/master/2943.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Why have US shares, gold and the dollar been soaring?</span></h3><span class="dcr-pyxv1k">Jeffrey Frankel</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>The emergence of artificial intelligence has pushed the tech sector to all-time highs, but other assets have risen, too</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-07-25T10:53:34.000Z" data-locale="en-gb" title="Thursday 25 July 2024 at 11:53 British Summer Time">25 Jul 2024 11.53 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline1--mobile" data-link-name="ad slot inline1" data-name="inline1" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline1 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><section id="27-june-2024" data-link-name="container-4 | 27-june-2024" data-component="27-june-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/jun/27/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">27 June 2024</h2></a></div></div></div><div id="container-27-june-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/article/2024/jun/27/labours-growth-strategy-the-devil-lies-not-in-planning-but-in-implementation" data-link-name="comment | group-0 | card-@5" aria-label="Labour’s growth strategy: the devil lies not in planning, but in implementation" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-1j6t3k2"><div class="dcr-6beg42"><div class="dcr-hct2iq"><picture class="dcr-1gesx20"><source srcSet="https://i.guim.co.uk/img/uploads/2022/09/26/Mohamed_el_Erian.png?width=140&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/uploads/2022/09/26/Mohamed_el_Erian.png?width=140&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/uploads/2022/09/26/Mohamed_el_Erian.png?width=75&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/uploads/2022/09/26/Mohamed_el_Erian.png?width=75&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Mohamed El-Erian" src="https://i.guim.co.uk/img/uploads/2022/09/26/Mohamed_el_Erian.png?width=75&dpr=1&s=none&crop=none" class="dcr-1yduq3m"/></picture></div></div><div class="dcr-17qj1mj"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Labour’s growth strategy: the devil lies not in planning, but in implementation</span></h3><span class="dcr-pyxv1k">Mohamed El-Erian</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>The party’s roadmap must favour comprehensive reforms, carried out at the same time, and sooner rather than later</div></div></span></div><div></div></div></div><div style="padding:0px;"><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-06-27T07:34:41.000Z" data-locale="en-gb" title="Thursday 27 June 2024 at 08:34 British Summer Time">27 Jun 2024 08.34 BST</time></span></footer></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><div class="top-fronts-banner-ad-container dcr-12mgsnl"><div class="ad-slot-container dcr-dk0wj3"><div id="dfp-ad--fronts-banner-2" data-link-name="ad slot fronts-banner-2" data-name="fronts-banner-2" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--fronts-banner-2 ad-slot--rendered false dcr-aygtuk"></div></div></div><section id="26-june-2024" data-link-name="container-5 | 26-june-2024" data-component="26-june-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/jun/26/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">26 June 2024</h2></a></div></div></div><div id="container-26-june-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/article/2024/jun/26/it-doesnt-make-sense-why-us-tariffs-on-chinese-cleantech-risk-the-green-transition" data-link-name="comment | group-0 | card-@6" aria-label="It doesn’t make sense: why US tariffs on Chinese cleantech risk the green transition " class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="huge fields of solar panels next to a field of green crops" src="https://i.guim.co.uk/img/media/a5f4dab354e4721f108f6b717f690f8eaa2bb688/0_146_5472_3283/master/5472.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">It doesn’t make sense: why US tariffs on Chinese cleantech risk the green transition </span></h3><span class="dcr-pyxv1k">Jeffrey Frankel</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Global demand for renewable energy is surging so why make solar panels, wind turbines and EVs dearer for western consumers?</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-06-26T04:00:06.000Z" data-locale="en-gb" title="Wednesday 26 June 2024 at 05:00 British Summer Time">26 Jun 2024 05.00 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline2--mobile" data-link-name="ad slot inline2" data-name="inline2" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline2 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><section id="30-may-2024" data-link-name="container-6 | 30-may-2024" data-component="30-may-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/may/30/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">30 May 2024</h2></a></div></div></div><div id="container-30-may-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/article/2024/may/30/why-policymakers-are-more-likely-to-risk-high-inflation-during-periods-of-economic-uncertainty" data-link-name="comment | group-0 | card-@7" aria-label="Why policymakers are more likely to risk high inflation during periods of economic uncertainty" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="The chair of the US Federal Reserve, Jerome Powell (right), with the US president, Joe Biden." src="https://i.guim.co.uk/img/media/fc2b79be7951c35cb119aa871939706d21750768/24_59_5984_3593/master/5984.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Why policymakers are more likely to risk high inflation during periods of economic uncertainty</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Central banks may not aim for such an outcome but will probably adjust interest rate decisions in a way that makes it more likely than deep recession</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-05-30T06:00:22.000Z" data-locale="en-gb" title="Thursday 30 May 2024 at 07:00 British Summer Time">30 May 2024 07.00 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><section id="2-may-2024" data-link-name="container-7 | 2-may-2024" data-component="2-may-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/may/02/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">2 May 2024</h2></a></div></div></div><div id="container-2-may-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/may/02/higher-interest-rates-government-debt-us-inflation" data-link-name="comment | group-0 | card-@8" aria-label="Higher interest rates make government debt unviable as an economic solution" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="The national debt clock in midtown Manhattan in New York City, US, in May 2023." src="https://i.guim.co.uk/img/media/4a7414656190dbff420fc7d047e39e891f6ae70b/16_0_2661_1597/master/2661.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Higher interest rates make government debt unviable as an economic solution</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Big economies such as the US must change fiscal policy as the realities of debt and inflation bite</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-05-02T06:00:52.000Z" data-locale="en-gb" title="Thursday 2 May 2024 at 07:00 British Summer Time">2 May 2024 07.00 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline3--mobile" data-link-name="ad slot inline3" data-name="inline3" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline3 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><div class="top-fronts-banner-ad-container dcr-12mgsnl"><div class="ad-slot-container dcr-dk0wj3"><div id="dfp-ad--fronts-banner-3" data-link-name="ad slot fronts-banner-3" data-name="fronts-banner-3" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--fronts-banner-3 ad-slot--rendered false dcr-aygtuk"></div></div></div><section id="18-march-2024" data-link-name="container-8 | 18-march-2024" data-component="18-march-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/mar/18/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">18 March 2024</h2></a></div></div></div><div id="container-18-march-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/mar/18/joe-biden-has-just-dealt-a-big-defeat-to-big-tech" data-link-name="comment | group-0 | card-@9" aria-label="Joe Biden has just dealt a big defeat to big tech" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-1j6t3k2"><div class="dcr-6beg42"><div class="dcr-hct2iq"><picture class="dcr-1gesx20"><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=140&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=140&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=75&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=75&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Joseph Stiglitz" src="https://i.guim.co.uk/img/uploads/2017/10/06/Joseph-Stiglitz,-L.png?width=75&dpr=1&s=none&crop=none" class="dcr-1yduq3m"/></picture></div></div><div class="dcr-17qj1mj"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Joe Biden has just dealt a big defeat to big tech</span></h3><span class="dcr-pyxv1k">Joseph Stiglitz</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>US president’s new executive order is an important step towards protecting sensitive personal data</div></div></span></div><div></div></div></div><div style="padding:0px;"><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-03-18T15:01:42.000Z" data-locale="en-gb" title="Monday 18 March 2024 at 15:01 Greenwich Mean Time">18 Mar 2024 15.01 GMT</time></span></footer></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><section id="4-march-2024" data-link-name="container-9 | 4-march-2024" data-component="4-march-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/mar/04/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">4 March 2024</h2></a></div></div></div><div id="container-4-march-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/mar/04/us-stock-markets-are-booming-but-why" data-link-name="comment | group-0 | card-@10" aria-label="The US stock markets are booming. But why?" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="A Wall Street with a US flag in the background" src="https://i.guim.co.uk/img/media/40ab185101a656a68b369086e4d42c0135efc8a0/0_123_3689_2214/master/3689.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">The US stock markets are booming. But why?</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Buoyed by the AI boom there seems no end in sight for the rally but there is little reason to believe it can last</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-03-04T11:54:06.000Z" data-locale="en-gb" title="Monday 4 March 2024 at 11:54 Greenwich Mean Time">4 Mar 2024 11.54 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline4--mobile" data-link-name="ad slot inline4" data-name="inline4" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline4 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><section id="5-february-2024" data-link-name="container-10 | 5-february-2024" data-component="5-february-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/feb/05/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">5 February 2024</h2></a></div></div></div><div id="container-5-february-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/feb/05/is-ai-really-the-biggest-threat-when-our-world-is-guided-more-by-human-stupidity" data-link-name="comment | group-0 | card-@11" aria-label="Is AI really the biggest threat when our world is guided more by human stupidity?" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="a chatgpt and google bard logo on separate smartphone screens" src="https://i.guim.co.uk/img/media/9127fb3fdc623596d2c3da48be625ee17222c275/0_151_4500_2701/master/4500.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Is AI really the biggest threat when our world is guided more by human stupidity?</span></h3><span class="dcr-pyxv1k">Nouriel Roubini</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>There is both hope and hype for what artificial intelligence can do for growth – if politicians can tame its destructive potential</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-02-05T13:06:41.000Z" data-locale="en-gb" title="Monday 5 February 2024 at 13:06 Greenwich Mean Time">5 Feb 2024 13.06 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><div class="top-fronts-banner-ad-container dcr-12mgsnl"><div class="ad-slot-container dcr-dk0wj3"><div id="dfp-ad--fronts-banner-4" data-link-name="ad slot fronts-banner-4" data-name="fronts-banner-4" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--fronts-banner-4 ad-slot--rendered false dcr-aygtuk"></div></div></div><section id="2-february-2024" data-link-name="container-11 | 2-february-2024" data-component="2-february-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/feb/02/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">2 February 2024</h2></a></div></div></div><div id="container-2-february-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/feb/02/world-economy-china-europe-us" data-link-name="comment | group-0 | card-@12" aria-label="Don’t count on a soft landing for the world economy – turbulence is ahead" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Traders work on the floor of the New York Stock Exchange" src="https://i.guim.co.uk/img/media/71933a8cebdb226a295af930297d4559874e92fc/0_398_6000_3600/master/6000.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Don’t count on a soft landing for the world economy – turbulence is ahead</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Experts seem optimistic but events in China, Europe and the US suggest risks are still tilted to the downside</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-02-02T12:18:01.000Z" data-locale="en-gb" title="Friday 2 February 2024 at 12:18 Greenwich Mean Time">2 Feb 2024 12.18 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline5--mobile" data-link-name="ad slot inline5" data-name="inline5" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline5 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><section id="8-january-2024" data-link-name="container-12 | 8-january-2024" data-component="8-january-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/jan/08/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">8 January 2024</h2></a></div></div></div><div id="container-8-january-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/jan/08/russia-ukraine-seize-assets-us-eu" data-link-name="comment | group-0 | card-@13" aria-label="Russia must be held accountable over Ukraine – we should seize its assets" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Bombed buildings in Ukraine" src="https://i.guim.co.uk/img/media/e4165cd1b02d474ae41a211dd5e8d27b897f948b/147_55_6546_3930/master/6546.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Russia must be held accountable over Ukraine – we should seize its assets</span></h3><span class="dcr-pyxv1k">Joseph Stiglitz and Andrew Kosenko</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>After the EU and US failed to agree aid packages, we must send a clear message to regimes waging wars</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-01-08T07:00:01.000Z" data-locale="en-gb" title="Monday 8 January 2024 at 07:00 Greenwich Mean Time">8 Jan 2024 07.00 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><section id="4-january-2024" data-link-name="container-13 | 4-january-2024" data-component="4-january-2024" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2024/jan/04/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">4 January 2024</h2></a></div></div></div><div id="container-4-january-2024" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2024/jan/04/global-economy-2024-interest-rates-china-donald-trump" data-link-name="comment | group-0 | card-@14" aria-label="The global economy is poised for another tumultuous year in 2024" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Yokohama, Japan" src="https://i.guim.co.uk/img/media/b0c31011e08a4dfcbe577b726c42effa5ea32907/20_294_4906_2946/master/4906.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">The global economy is poised for another tumultuous year in 2024</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>High interest rates, a slowdown in China and a possible Trump victory could make for a rocky year</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2024-01-04T07:00:24.000Z" data-locale="en-gb" title="Thursday 4 January 2024 at 07:00 Greenwich Mean Time">4 Jan 2024 07.00 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline6--mobile" data-link-name="ad slot inline6" data-name="inline6" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline6 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><div class="top-fronts-banner-ad-container dcr-12mgsnl"><div class="ad-slot-container dcr-dk0wj3"><div id="dfp-ad--fronts-banner-5" data-link-name="ad slot fronts-banner-5" data-name="fronts-banner-5" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--fronts-banner-5 ad-slot--rendered false dcr-aygtuk"></div></div></div><section id="8-december-2023" data-link-name="container-14 | 8-december-2023" data-component="8-december-2023" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2023/dec/08/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">8 December 2023</h2></a></div></div></div><div id="container-8-december-2023" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2023/dec/08/higher-interest-rates-inflation-debt" data-link-name="comment | group-0 | card-@15" aria-label="Higher interest rates are here to stay, so we need a rethink" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="A trader works in front of computer screens in Frankfurt, Germany." src="https://i.guim.co.uk/img/media/d01cbb8d7c645f138f58e190563418ba46ea6ec4/34_19_5401_3243/master/5401.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Higher interest rates are here to stay, so we need a rethink</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Even if inflation falls, soaring debt levels, deglobalisation and populist pressures will have an impact</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2023-12-08T07:00:43.000Z" data-locale="en-gb" title="Friday 8 December 2023 at 07:00 Greenwich Mean Time">8 Dec 2023 07.00 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><section id="20-november-2023" data-link-name="container-15 | 20-november-2023" data-component="20-november-2023" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2023/nov/20/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">20 November 2023</h2></a></div></div></div><div id="container-20-november-2023" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2023/nov/20/did-the-us-federal-reserve-rein-in-inflation-possibly" data-link-name="comment | group-0 | card-@16" aria-label="Did the US Federal Reserve rein in inflation? Possibly" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="The seal of the Board of Governors of the US Federal Reserve System." src="https://i.guim.co.uk/img/media/1a3434d8e18f39d8fbc3772a1f1554ebb4aa3409/0_100_3000_1800/master/3000.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Did the US Federal Reserve rein in inflation? Possibly</span></h3><span class="dcr-pyxv1k">Jeffrey Frankel</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Some credit the Fed and Joe Biden for America’s relatively painless escape from inflation. It’s not a simple answer</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2023-11-20T07:00:13.000Z" data-locale="en-gb" title="Monday 20 November 2023 at 07:00 Greenwich Mean Time">20 Nov 2023 07.00 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline7--mobile" data-link-name="ad slot inline7" data-name="inline7" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline7 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><section id="10-november-2023" data-link-name="container-16 | 10-november-2023" data-component="10-november-2023" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2023/nov/10/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">10 November 2023</h2></a></div></div></div><div id="container-10-november-2023" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2023/nov/10/certain-uncertainty-in-the-us-bond-market" data-link-name="comment | group-0 | card-@17" aria-label="Certain uncertainty in the US bond market" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="The Federal Reserve chair Jerome Powell." src="https://i.guim.co.uk/img/media/f35654c65a3ef808796ba718d0b6eb238aaeaef4/0_238_7130_4280/master/7130.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Certain uncertainty in the US bond market</span></h3><span class="dcr-pyxv1k">Barry Eichengreen</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>After two bad years for investors the ‘smart money’ is piling back in</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2023-11-10T06:00:14.000Z" data-locale="en-gb" title="Friday 10 November 2023 at 06:00 Greenwich Mean Time">10 Nov 2023 06.00 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><div class="top-fronts-banner-ad-container dcr-12mgsnl"><div class="ad-slot-container dcr-dk0wj3"><div id="dfp-ad--fronts-banner-6" data-link-name="ad slot fronts-banner-6" data-name="fronts-banner-6" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--fronts-banner-6 ad-slot--rendered false dcr-aygtuk"></div></div></div><section id="2-november-2023" data-link-name="container-17 | 2-november-2023" data-component="2-november-2023" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2023/nov/02/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">2 November 2023</h2></a></div></div></div><div id="container-2-november-2023" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2023/nov/02/emerging-markets-debt-crisis-defaults" data-link-name="comment | group-0 | card-@18" aria-label="Why have emerging markets not spiralled into a debt crisis?" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="People visit a currency exchange office in Istanbul, Turkey" src="https://i.guim.co.uk/img/media/684415b80446b9f3fe1bfbf1e3f9c2faf83da795/0_0_4225_2537/master/4225.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Why have emerging markets not spiralled into a debt crisis?</span></h3><span class="dcr-pyxv1k">Kenneth Rogoff</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Mexico, Brazil, South Africa and Turkey have shown economic resilience despite wave of defaults</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2023-11-02T06:00:32.000Z" data-locale="en-gb" title="Thursday 2 November 2023 at 06:00 Greenwich Mean Time">2 Nov 2023 06.00 GMT</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><span class="dcr-12r3co1"><div class="ad-slot-container"><div id="dfp-ad--inline8--mobile" data-link-name="ad slot inline8" data-name="inline8" aria-hidden="true" class="js-ad-slot ad-slot ad-slot--inline8 ad-slot--container-inline ad-slot--mobile mobile-only ad-slot--rendered dcr-1m759r1"></div></div></span><section id="9-october-2023" data-link-name="container-18 | 9-october-2023" data-component="9-october-2023" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2023/oct/09/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">9 October 2023</h2></a></div></div></div><div id="container-9-october-2023" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2023/oct/09/industrial-policy-government-intervention-joe-biden-inflation-reduction-act-subsidies" data-link-name="comment | group-0 | card-@19" aria-label="Industrial policy is back – should we welcome government intervention?" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="Workers install a solar panel on the roof of a home in Kentucky" src="https://i.guim.co.uk/img/media/47c3ab4ea289362e48a6664abe17bd9094b9253e/0_360_8113_4868/master/8113.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Industrial policy is back – should we welcome government intervention?</span></h3><span class="dcr-pyxv1k">Barry Eichengreen</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>Joe Biden’s Inflation Reduction Act spurred similar efforts worldwide, but care must be taken when targeting subsidies</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2023-10-09T11:51:49.000Z" data-locale="en-gb" title="Monday 9 October 2023 at 12:51 British Summer Time">9 Oct 2023 12.51 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"></div></section><section id="22-september-2023" data-link-name="container-19 | 22-september-2023" data-component="22-september-2023" style="background-color:var(--front-container-background);" class="dcr-pslr00"><div class="dcr-1a8sauz"></div><div class="dcr-1kno2ly"><div class="dcr-l9k7rx"><div class="dcr-1atljbz"><a href="/business/series/project-syndicate-economists/2023/sep/22/all" data-link-name="section heading" class="dcr-1g8nl1f"><h2 style="color:var(--article-section-title);" class="dcr-k8vtvd">22 September 2023</h2></a></div></div></div><div id="container-22-september-2023" class="dcr-yyvovz"><ul class="dcr-pnnc7v"><li class="dcr-tzc0jy"><div data-format-theme="1" data-format-design="8" data-format-display="0" class="dcr-qaxiv9"><div class="dcr-f9aim1"><a href="/business/2023/sep/22/bank-capital-rules-failures-supervision-us-fed-silicon-valley-bank" data-link-name="comment | group-0 | card-@20" aria-label="Bank capital rules alone won’t stop failures – supervision is vital" class="dcr-ezvrjj"></a><div style="background-color:var(--card-background);gap:8px;" class="dcr-b9p4z1"><div class="dcr-1j02kbc"><picture data-size="medium" class="dcr-zigv41"><source srcSet="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=460&dpr=2&s=none&crop=none" media="(min-width: 980px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 980px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=460&dpr=1&s=none&crop=none" media="(min-width: 980px)"/><source srcSet="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=330&dpr=2&s=none&crop=none" media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=330&dpr=1&s=none&crop=none" media="(min-width: 740px)"/><source srcSet="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=240&dpr=2&s=none&crop=none" media="(min-width: 320px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 320px) and (min-resolution: 120dpi)"/><source srcSet="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=240&dpr=1&s=none&crop=none" media="(min-width: 320px)"/><img alt="A security guard stands outside of the entrance of the Silicon Valley Bank" src="https://i.guim.co.uk/img/media/c6bdf692f3fd8184405408882bbbe704a620fd80/0_352_5272_3163/master/5272.jpg?width=240&dpr=1&s=none&crop=none" loading="lazy" data-chromatic="ignore" class="dcr-l300o4"/></picture><div class="image-overlay"></div></div><div class="dcr-1rdsp9j"><div class="dcr-uh1jz3"><div class="dcr-147a5s0"><h3 class="card-headline dcr-1d8jwt1"><svg viewBox="0 0 22 14" style="fill:var(--card-kicker-text);" class="dcr-scql1j"><path d="M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z"></path></svg><span class="show-underline dcr-uyefka">Bank capital rules alone won’t stop failures – supervision is vital</span></h3><span class="dcr-pyxv1k">Howard Davies</span></div><span class="dcr-n4pnam"><div class="dcr-4v2oe6"><div>The US Fed is planning tough reforms, but earlier intervention could have prevented collapses at Silicon Valley Bank and others</div></div></span><footer class="dcr-1mv0cw8"><span class="dcr-kap5pr"><time dateTime="2023-09-22T11:45:34.000Z" data-locale="en-gb" title="Friday 22 September 2023 at 12:45 British Summer Time">22 Sept 2023 12.45 BST</time></span></footer></div><div></div></div></div><div style="padding:0px;"></div></div></div></li></ul></div><div class="dcr-1eiql86"><div class="dcr-vlbnmp"><span class="dcr-pauz6u">About 778 results for Project Syndicate economists</span><div class="dcr-stdtpu"><span class="dcr-1qwl035">1</span><a href="/business/series/project-syndicate-economists?page=2" class="dcr-1nzqxjn">2</a><a href="/business/series/project-syndicate-economists?page=3" class="dcr-1nzqxjn">3</a><a href="/business/series/project-syndicate-economists?page=4" class="dcr-1nzqxjn">4</a><span style="margin-right:4px;" class="dcr-120b5yi">...</span><a href="/business/series/project-syndicate-economists?page=2" class="dcr-jh1m5g"><svg viewBox="-3 -3 30 30" xmlns="http://www.w3.org/2000/svg" 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