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Is the Global Dollar in Jeopardy?
by Simon Johnson of Project Syndicate, 11/4/19

The US Federal Reserve is right to be concerned, if not worried, about the greenback's dominance of international trade and finance. Fortunately for consumers, growing potential competitive pressure – call it the Libra effect – creates an incentive to make the existing system work better.

China, the Innovation Dragon
by Simon Johnson and Jonathan Ruane of Project Syndicate, 12/30/17

Given its own policies, and those of the US, China is on track to become the world’s innovation leader. By the end of 2018, it will likely be apparent to all just how quickly and easily this latest chapter in the Chinese success story will be written.

Puerto Rico’s Debt Trap
by Simon Johnson of Project Syndicate, 12/28/15
The Caribbean island of Puerto Rico – the largest United States “territory” – is broke, and a human calamity is unfolding there. Unless a constructive course of political action is found in 2016, Puerto Rican migration to the 50 states will rival the scale of the 1930s Dust Bowl exodus.

Obama Steps Up
by Simon Johnson of Project Syndicate, 2/26/15
For the past six years, Barack Obama's administration has, more often than not, sided with the interests of big banks on financial-sector policy. But this week, announcing a new proposal to prevent conflicts of interest in financial advising, Obama seemed to turn an important corner.

Wall Street for President?
by Simon Johnson of Project Syndicate, 1/30/15
America's Democratic Party – including President Barack Obama – is apparently of two minds on the extent to which it should defend its own financial legislation from attack by the country's powerful megabanks. It can have the 2010 Dodd-Frank reforms, or it can have Wall Street's campaign contributions, but it cannot have both.

Break Up Citigroup
by Simon Johnson of Project Syndicate, 12/27/14
Break up Citigroup, end dangerous government subsidies, and bring back the market. The US presidential candidate who says this in 2016 and says it most convincingly has a good chance of winning it all.

Washington Recaptured
by Simon Johnson of Project Syndicate, 8/28/14
Two hundred years ago, Washington DC was captured by the British who then set fire to official buildings, including the White House, Treasury Department, and Congress. Today, it is a domestic interest group very large banks that has captured Washington, and the costs are likely to be far higher than they were in 1814.

Don't Cry for Me, Ben Bernanke
by Simon Johnson of Project Syndicate, 9/27/13
The Federal Reserve will decide on monetary policy for the US based primarily on US conditions. Economic policymakers elsewhere who are pleading for a postponement of US monetary tightening should understand this hard reality and prepare accordingly.

Austerity's Children
by Simon Johnson of Project Syndicate, 3/26/13
Economists typically frame fiscal adjustment as an abstract and complex goal, though the issue boils down to deciding who will bear the brunt of measures to reduce the budget deficit. In America, that distributional choice has now been made: poor children must pay.

Financial Reform's Breakthrough Year
by Simon Johnson of Project Syndicate, 12/21/12
Although the global financial crisis is now more than four years old, and the Dodd-Frank financial reforms were adopted in the US back in 2010, not much has changed about how Wall Street operates except that the large firms have become bigger and more powerful. But there are reasons to expect real change in 2013.

America's Fiscal Cliff Dwellers
by Simon Johnson of Project Syndicate, 11/19/12
America's looming "fiscal cliff" is actually more of a "slope," with the full effect of the tax increases and spending cuts felt only gradually. But the choice of words matters, given the hysteria that has been whipped up in recent months, primarily by people who want to decimate America's social-insurance programs.

Too Big to Jail
by Simon Johnson of Project Syndicate, 2/22/12
Among the fundamental principles of any functioning judicial system is the following: Dont lie to a judge or falsify documents submitted to a court, or you will go to jail. These are serious criminal offenses, but apparently not if you are the heart of Americas financial system.

The Libertarian and the Lobbyists
by Simon Johnson of Project Syndicate, 1/24/12
Among the Republican candidates still vying to challenge Barack Obama in Novembers US presidential election, Ron Paul stands out for arguing consistently that government is the problem, not the answer, with regard to banking. But the real problem with financial regulation, a new study shows, is lobbying.

Austerity and the Modern Banker
by Simon Johnson of Project Syndicate, 12/20/11
Santa Claus came early this year for four former executives of Washington Mutual (WaMu), a large US bank that failed in fall 2008. The Federal Deposit Insurance Corporation (FDIC) had brought a lawsuit against the four, actions that included taking huge financial risks while knowing that the real estate market was in a bubble. The FDIC sought to recover $900 million, but the executives have just settled for $64 million, almost all of which will be paid by their insurers; their out-of-pockets costs are estimated at just $400,000.

Does Europe Have a Korean Option?
by Simon Johnson of Project Syndicate, 11/26/11
On the surface, at least, the situation in the eurozone today and South Korea in the fall of 1997 look very different. Both are cases of severe economic crisis, to be sure. But the eurozones problems stem from high levels of government debt, while South Korea faced massive capital flight and a collapsing currency and almost all of the debt was in the corporate sector. Nevertheless, the eurozone could learn from the experience of South Korea, which came through its crisis more quickly than anyone expected, combining sensible reforms with a rapid recovery.
15 results found.