LONDON/CAMBRIDGE – The nations of the developed world have responded to the COVID-19 crisis by supporting their domestic economies and financial systems in bold and unprecedented ways, on a scale that would have been unimaginable three months ago
NEW YORK – Ironically, just as the “democratic socialist” Bernie Sanders has suspended his presidential campaign in the United States, many of his policy proposals are becoming necessary around the world
BERKELEY/CHICAGO – Without a comprehensive debt moratorium, the COVID-19 pandemic will lead to a wave of uncontrolled sovereign defaults, especially among emerging and developing economies. Should that happen, global efforts to contain the public-health crisis will fail, and the current economic collapse may well turn into a permanent decline
NEW YORK – Spooked by COVID-19, Americans not only stripped supermarket shelves of toilet paper and pasta, but also drove gun sales higher than ever. Apparently, many of these recent gun buyers never purchased a firearm before
NEW DELHI – The COVID-19 pandemic has thrust the entire world – rich and poor – into uncharted territory, prompting extraordinary policy responses almost everywhere. The looming economic fallout will be more severe than that of the Great Depression, the 2008 global financial crisis, and perhaps even the two world wars. After all, none of these previous epochal crises involved a simultaneous global collapse of both demand and supply, with little certainty of how long the sudden stop would persist
For the third time in a decade, the number of billionaires dropped as global equity markets imploded. Of those who remain, 51% are poorer than they were last year