Bio for Clive Crook
If Greece Quits Euro, Its Ruin Will Be Pointless
The chaos in Greece has resumed and a new election that nobody expects to resolve anything looms. Exasperated European Union officials have begun openly discussing the country’s exit from the euro currency system. This is a grave mistake. Greece’s exit would be no less catastrophic than when the EU called it unthinkable -- and not just for Greece.
The chaos in Greece has resumed and a new election that nobody expects to resolve anything looms. Exasperated European Union officials have begun openly discussing the country’s exit from the euro currency system. This is a grave mistake. Greece’s exit would be no less catastrophic than when the EU called it unthinkable -- and not just for Greece.
Hollande Must Betray His Supporters to Save Them
French voters are deluding themselves if they think the man they just elected president offers a viable alternative to the departing Nicolas Sarkozy.
French voters are deluding themselves if they think the man they just elected president offers a viable alternative to the departing Nicolas Sarkozy.
Liberals Need To Exploit Progress, Not Fight It
Last week I argued that accelerating economic change driven by globalization and information technology ought to make conservatives in the U.S. and Europe rethink some of their ideas. The same goes for liberals.
Last week I argued that accelerating economic change driven by globalization and information technology ought to make conservatives in the U.S. and Europe rethink some of their ideas. The same goes for liberals.
Conservatives Need Better Blueprint for New Economy
April 24, 2012
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The first priority for governments
in the U.S. and Europe is to engineer the fastest possible
recovery from the Great Recession -- a job that the European
Union, in particular, is bungling. Despite it all, recovery will
come, and when it does the world economy is going to look
different.
Instagram Deal Reflects Wrenching Structural Change
April 17, 2012
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The U.S. is recovering only slowly
from the Great Recession, and right now Europe isn’t recovering
at all.
‘Why Nations Fail’ Is Not Quite as Good as They Say
“Why Nations Fail” by Daron Acemoglu and James Robinson is getting lavish praise. Mostly, the book deserves it.
“Why Nations Fail” by Daron Acemoglu and James Robinson is getting lavish praise. Mostly, the book deserves it.
Obama Has Made a Mess of the World Bank Succession
Barack Obama’s decision to nominate Dartmouth College President Jim Yong Kim to head the World Bank has been well received.
Barack Obama’s decision to nominate Dartmouth College President Jim Yong Kim to head the World Bank has been well received.
U.K. Conservatives Come Up Short in Austerity Experiment
Since 2010 Britain has been a laboratory for an important experiment in economic policy. The question: When economies slump and public borrowing soars, can fiscal restraint speed the recovery? Preliminary findings: No, and whatever made you think it could?
Since 2010 Britain has been a laboratory for an important experiment in economic policy. The question: When economies slump and public borrowing soars, can fiscal restraint speed the recovery? Preliminary findings: No, and whatever made you think it could?
U.S. Retirees Face a Private-Savings Crisis: Clive Crook
Here’s some good news about America’s public-pension system. Contrary to many reports, the country can afford it.
Here’s some good news about America’s public-pension system. Contrary to many reports, the country can afford it.
As Pension Crisis Looms, Golden Years Fade to Black: Clive Crook
The resolution of every economic crisis sows the seeds of the next.
The resolution of every economic crisis sows the seeds of the next.
Empty Politics Pose Biggest Threat to U.S. Power: Clive Crook
Theorists of American decline are preoccupied with the surging growth of emerging rivals, especially China. That’s an important issue, I don’t doubt. But there’s a much bigger threat to U.S. power: the increasingly abject failure of the country’s own political class.
Theorists of American decline are preoccupied with the surging growth of emerging rivals, especially China. That’s an important issue, I don’t doubt. But there’s a much bigger threat to U.S. power: the increasingly abject failure of the country’s own political class.
Greek Deal Leaves Europe on the Road to Disaster: Clive Crook
If Europe’s new plan for Greece succeeds, nobody will be more surprised than the politicians who designed it. At best, the arrangement is a holding action, one that fails yet again to deal with the much larger confidence crisis facing the euro area.
If Europe’s new plan for Greece succeeds, nobody will be more surprised than the politicians who designed it. At best, the arrangement is a holding action, one that fails yet again to deal with the much larger confidence crisis facing the euro area.
Germany Must Decide What the European Union Is For: Clive Crook
For the past several decades Germany’s aim for Europe has been to create a wider and deeper union. In this way it sought to advance its economic and national-security interests, to bind itself to ever closer co- operation with its neighbors, and to atone for its history. Today, the system that it designed is in danger of coming apart, and newspapers in Italy and Greece carry digitally altered pictures of Angela Merkel in Nazi uniform.
For the past several decades Germany’s aim for Europe has been to create a wider and deeper union. In this way it sought to advance its economic and national-security interests, to bind itself to ever closer co- operation with its neighbors, and to atone for its history. Today, the system that it designed is in danger of coming apart, and newspapers in Italy and Greece carry digitally altered pictures of Angela Merkel in Nazi uniform.
How to Make Budgets and Politics a Less Toxic Mix: Clive Crook
It has come to something when the International Monetary Fund, that stone-faced inspector of fiscal rectitude, advises governments to go easy on austerity.
It has come to something when the International Monetary Fund, that stone-faced inspector of fiscal rectitude, advises governments to go easy on austerity.
Why Europe Really Must Pursue ‘Structural Reform’: Clive Crook
While Europe’s governments struggle to contain their debt meltdown, a big part of what’s gone wrong is easy to forget.
While Europe’s governments struggle to contain their debt meltdown, a big part of what’s gone wrong is easy to forget.
Europe Can Beat This Crisis but Maybe Not the Next: Clive Crook
How gloomy should we be about the European Union? Are its problems manageable, or is it headed for systemic collapse? My answer is yes -- the problems are manageable, and the EU’s leaders are behaving so recklessly that collapse is all too possible. I don’t know whether that makes me an optimist or a pessimist.
How gloomy should we be about the European Union? Are its problems manageable, or is it headed for systemic collapse? My answer is yes -- the problems are manageable, and the EU’s leaders are behaving so recklessly that collapse is all too possible. I don’t know whether that makes me an optimist or a pessimist.
Great Recession Demands New Rules for Central Banks: Clive Crook
Even before the Great Recession, mainstream economics offered few clear-cut policy prescriptions. At the top of an embarrassingly short list were two rules of monetary policy: keep prices stable and politics out of central- bank operations. Now, it may be time to rethink both.
Even before the Great Recession, mainstream economics offered few clear-cut policy prescriptions. At the top of an embarrassingly short list were two rules of monetary policy: keep prices stable and politics out of central- bank operations. Now, it may be time to rethink both.
If Europe Can Learn From U.S., Why Not Vice Versa?: Clive Crook
Mitt Romney likes to contrast the U.S. economic system with Europe’s welfare state. You can have a merit society, he says, or an entitlement society, but not both -- and an entitlement society is where the U.S. is heading if Barack Obama and the Democrats get their way.
Mitt Romney likes to contrast the U.S. economic system with Europe’s welfare state. You can have a merit society, he says, or an entitlement society, but not both -- and an entitlement society is where the U.S. is heading if Barack Obama and the Democrats get their way.
A Crisis of Leadership, Not a Crisis of Capitalism: Clive Crook
With the world’s rich economies struggling and the leaders of the European Union intent on making things worse, the gravity of the economic crisis still confronting the West is hard to exaggerate. Nonetheless, it can be done.
With the world’s rich economies struggling and the leaders of the European Union intent on making things worse, the gravity of the economic crisis still confronting the West is hard to exaggerate. Nonetheless, it can be done.
Look Past Taxes to Fix Global Puzzle of Inequality: Clive Crook
Democrats in the U.S. have decided to make inequality a central issue in next year’s elections. I’d question whether that’s good politics. Even in hard times, American voters aren’t easily persuaded by appeals to class interests.
Democrats in the U.S. have decided to make inequality a central issue in next year’s elections. I’d question whether that’s good politics. Even in hard times, American voters aren’t easily persuaded by appeals to class interests.
Real Reasons That Bankers Don’t Like Basel Rules: Clive Crook
The Federal Reserve, according to reports, has decided that big U.S. banks will have to comply with an emerging new global rule on capital. It’s a move the banks have fought, arguing that it will increase their costs and discourage lending.
The Federal Reserve, according to reports, has decided that big U.S. banks will have to comply with an emerging new global rule on capital. It’s a move the banks have fought, arguing that it will increase their costs and discourage lending.
EU Pact Could Make Germany’s Nightmare Come True: Clive Crook
The remedy for the European Union’s financial crisis, EU leaders have decided, is “fiscal union.” But if the agreement they reached last week ultimately leads, in the fullness of time, to a real fiscal union, the country most likely to be unhappy is Germany, its original leading proponent.
The remedy for the European Union’s financial crisis, EU leaders have decided, is “fiscal union.” But if the agreement they reached last week ultimately leads, in the fullness of time, to a real fiscal union, the country most likely to be unhappy is Germany, its original leading proponent.
Europe’s Real Puzzles Can’t Be Answered in a Crisis: Clive Crook
Financial markets will make an instant judgment on this week’s summit of European Union leaders, and it had better be favorable.
Financial markets will make an instant judgment on this week’s summit of European Union leaders, and it had better be favorable.
Germans’ Righteous Stand Fans Flames in Euro Crisis: Clive Crook
Radoslaw Sikorski made a striking comment in Berlin on Monday night. “I will probably be the first Polish foreign minister in history to say so, but here it is: I fear German power less than I am beginning to fear German inactivity.”
Radoslaw Sikorski made a striking comment in Berlin on Monday night. “I will probably be the first Polish foreign minister in history to say so, but here it is: I fear German power less than I am beginning to fear German inactivity.”
Paralysis in Congress Better Than Self-Destruction: Clive Crook
One way or another, the U.S. will deal with its budget deficit. It’s unavoidable. The job could be done intelligently, gradually and without fuss, by adopting a few undrastic measures, or it could be left until the roof falls in and all the choices are bad. Congress is thinking, let’s go with the roof option.
One way or another, the U.S. will deal with its budget deficit. It’s unavoidable. The job could be done intelligently, gradually and without fuss, by adopting a few undrastic measures, or it could be left until the roof falls in and all the choices are bad. Congress is thinking, let’s go with the roof option.
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