American Lessons (for Europe)
Acemoglu, Daron, Robinson, James. Thomas J. Sargent’s Nobel Prize lecture, “United States Then, Europe Now,” draws an important parallel between the United States – the Articles of Confederation of 1781 and the ratification of the U.S. Constitution in 1788 – and Europe today. In both cases, polities were joined in a currency union under the […]
Who is Responsible for the Greek Tragedy?
El-Erian, Mohamed. Greece is following the road taken by several other crisis-ridden emerging economies over the past 30 years. Indeed, as I argued earlier this year, there are stunning similarities between this once-proud eurozone member and Argentina prior to its default in 2001. With an equally traumatic implosion – economic, financial, political, and social – […]