The Globalization of Protest
Stiglitz, Joseph. The protest movement that began in Tunisia in January, subsequently spreading to Egypt, and then to Spain, has now become global, with the protests engulfing Wall Street and cities across America. Globalization and modern technology now enables social movements to transcend borders as rapidly as ideas can. And social protest has found fertile […]
The Greek revolt: Good news for Europe
Wyplosz, Charles. Greek Prime Minister Papandreou made a stand this week. Even though he was backed down, this column argues that he did the EZ a favour by providing an opportunity to change course. One way or another, a disorderly Greek default is in the cards with its attendant contagion. At that point a real […]
The Revolt of the Debtors
Gros, Daniel. Greek Prime Minister George Papandreou’s call to hold a referendum on the rescue package agreed at the eurozone summit in late October has profound implications for European governance. It may also determine the future of the euro. Less than one week before Papandreou dropped his bombshell, eurozone leaders had spoken unequivocally: “The introduction […]
Who Killed Horatio Alger?
Zingales, Luigi. The title character of Horatio Alger’s 1867 novel Ragged Dick is an illiterate New York bootblack who, bolstered by his optimism, honesty, industriousness, and desire to “grow up ’spectable,” raises himself into the middle class. Alger’s novels are frequently misunderstood as mere rags-to-riches tales. In fact, they recount their protagonists’ journeys from rags […]