{ "title": "Which Way the Wind Blows", "publication": "IMF Blog, September 2, 2014", "sourceUrl": "https://www.imf.org/en/blogs/articles/2014/09/02/which-way-the-wind-blows", "canonical": "https://www.imf.org/en/blogs/articles/2014/09/02/which-way-the-wind-blows", "overlayPath": "/en/blogs/articles/2014/09/02/which-way-the-wind-blows/index.md", "summary": "Author: Jeff Hayden", "sections": [ { "heading": "Issue framing and purpose", "content": "- Marks the 70th anniversary of the IMF and World Bank and the 50th anniversary of F&D.\n- Thematic inspiration drawn from Bob Dylan’s line “The times, they are a-changin’” to examine transformations of the global economy over the past seven decades and prospects for the next 70 years.\n- Central question posed: what will the global economy look like in another 70 years?" }, { "heading": "Featured contributors and focal pieces", "content": "- Five Nobel laureates asked to identify a single “frontier” issue likely to shape the economic landscape: George Akerlof, Paul Krugman, Robert Solow, Michael Spence, and Joseph Stiglitz.\n- IMF leadership perspectives:\n - Christine Lagarde: charts a course for the IMF in the next decade in a Straight Talk piece.\n - Olivier Blanchard: distills lessons from the 2008 global financial crisis and calls for economists to change how they view the world.\n- Additional notable contributors and topics:\n - Ayhan Kose and Ezgi Ozturk: open their chart-article on economic transformations of the past 70 years with words from Bob Dylan.\n - Martin Wolf (Financial Times): piece on the perils and promise of globalization.\n - Kalpana Kochhar, Yan Sun, Evridiki Tsounta, and Niklas Westelius: analysis of economic trends to prepare for future challenges.\n - Rex Ghosh: primer on the postwar monetary system.\n - Jeffrey Ball: article on the future of energy in the global economy.\n - Jonathan Ostry and Andrew Berg: primer on measuring inequality." }, { "heading": "Innovations and presentation features in this issue", "content": "- First-time editorial experiments:\n - A seven-page comic by cartoonist Nick Galifianakis and Joe Procopio telling the story of the IMF’s origins.\n - Picture This feature examining the Beatles and their role as an export earner.\n- Profile piece on Ken Arrow:\n - Portrait of Nobel winner and Stanford professor Ken Arrow, highlighting his early passion for math and meteorology during World War II and his influential career in economics." }, { "heading": "Themes and takeaways", "content": "- Emphasis on change: retrospective and forward-looking analyses of the global economy across several domains (monetary system, globalization, energy, inequality).\n- Cross-cutting message: the need to reassess economic thinking in light of recent crises and long-term transformations.\n\nSource: IMF blog post “Which Way the Wind Blows,” Jeff Hayden, September 2, 2014\n\n---\n\n\n References\n\n- this edition of F&D magazine\n- Their responses\n- Straight Talk\n- distills the lessons\n- economic transformations\n- perils and promise of globalization\n- economic trends\n- the postwar monetary system\n- future of energy\n- measuring inequality\n- story of the IMF’s origins\n- Picture This\n- Ken Arrow\n\nSource: https://www.imf.org/en/blogs/articles/2014/09/02/which-way-the-wind-blows" } ], "bullets": [ "[Markdown version](/en/blogs/articles/2014/09/02/which-way-the-wind-blows/index.md)", "[Structured JSON version](/en/blogs/articles/2014/09/02/which-way-the-wind-blows/index.json)", "[Bundle manifest](/en/blogs/articles/2014/09/02/which-way-the-wind-blows/bundle-manifest.json)", "Authors: Jeff Hayden", "Published: September 2, 2014", "Marks the 70th anniversary of the IMF and World Bank and the 50th anniversary of F&D.", "Thematic inspiration drawn from Bob Dylan’s line “The times, they are a-changin’” to examine transformations of the global economy over the past seven decades and prospects for the next 70 years.", "Central question posed: what will the global economy look like in another 70 years?", "Five Nobel laureates asked to identify a single “frontier” issue likely to shape the economic landscape: George Akerlof, Paul Krugman, Robert Solow, Michael Spence, and Joseph Stiglitz.", "IMF leadership perspectives:", "Additional notable contributors and topics:", "First-time editorial experiments:", "Profile piece on Ken Arrow:", "Emphasis on change: retrospective and forward-looking analyses of the global economy across several domains (monetary system, globalization, energy, inequality).", "Cross-cutting message: the need to reassess economic thinking in light of recent crises and long-term transformations.", "[this edition of F&D magazine](http://www.imf.org/external/pubs/ft/fandd/2014/09/index.htm)", "[Their responses](http://www.imf.org/external/pubs/ft/fandd/2014/09/nobels.htm)", "[Straight Talk](http://www.imf.org/external/pubs/ft/fandd/2014/09/straight.htm)", "[distills the lessons](http://www.imf.org/external/pubs/ft/fandd/2014/09/blanchard.htm)", "[economic transformations](http://www.imf.org/external/pubs/ft/fandd/2014/09/kose.htm)", "[perils and promise of globalization](http://www.imf.org/external/pubs/ft/fandd/2014/09/wolf.htm)", "[economic trends](http://www.imf.org/external/pubs/ft/fandd/2014/09/kochhar.htm)", "[the postwar monetary system](http://www.imf.org/external/pubs/ft/fandd/2014/09/ghosh.htm)", "[future of energy](http://www.imf.org/external/pubs/ft/fandd/2014/09/ball.htm)", "[measuring inequality](http://www.imf.org/external/pubs/ft/fandd/2014/09/ostry.htm)", "[story of the IMF’s origins](http://www.imf.org/external/pubs/ft/fandd/2014/09/procopio.htm)", "[Picture This](http://www.imf.org/external/pubs/ft/fandd/2014/09/picture.htm)", "[Ken Arrow](http://www.imf.org/external/pubs/ft/fandd/2014/09/people.htm)" ], "alternates": { "markdown": "/en/blogs/articles/2014/09/02/which-way-the-wind-blows/index.md", "json": "/en/blogs/articles/2014/09/02/which-way-the-wind-blows/index.json", "bundleManifest": "/en/blogs/articles/2014/09/02/which-way-the-wind-blows/bundle-manifest.json" }, "generatedAtUtc": "2026-08-28T02:30:42.927Z" }