Featured Articles

AGE OF INSECURITY

A New Social Contract

Overcoming fears of technology and globalization means rethinking the rights and obligations of citizenship

BY Nemat Shafik

• Reimagining Social Protection

  New systems that do not rely on standard employment contracts are needed

  BY Michal Rutkowski

• Creating Fiscal Space

  Smarter tax policies can contribute to stronger social welfare policies

  BY David Coady

• Targeting the Poor

  Developing economies face special challenges in delivering social protection

  BY Rema Hanna, Adnan Khan, and Benjamin Olken

  Targeting Development Assistance, Benjamin Olken

• Seeking Balance

  China strives to adapt social protection to the needs of a market economy

  By Ken Wills

  100 years of social pensions

People in Economics

ON THE CUTTING EDGE

Claudia Goldin

Pioneering the study of women’s role in the economy

By Peter J. Walker

• Raj Chetty

  Reshaping the study of social mobility with big data

  By Chris Wellisz

• David Donaldson

  Making no assumptions about trade that are not based on facts

  By Bruce Edwards

• Angus Deaton

  Pioneering approaches that connect the dots between theory, measurement, policy, and people’s lives

  By Peter J. Walker

• David Autor

  Discovering the effects of imports on the US labor market

  By Chris Wellisz

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

Hardly Anyone Is Too Poor to Share

A basic level of social protection is affordable nearly everywhere

Michael Cichon

100 years of social pensions

• Return of the Bond Vigilante

  Will markets coerce fiscal policy again?

  By Ramana Ramaswamy

• Restoring Ethics to Economics

  Modern economics should return to its roots

  By Anthony Annett

• Nascent Hopes

  The Arab uprisings may have set in motion a long-term transformation in the region

  By Marwan Muasher

• In Experts We Trust?

  As access to information burgeons, experts are more crucial than ever

  By Nemat Shafik

In the Trenches

One-on-one with Policymakers

Breathing Space

How IMF helped Ireland overcome its financial crisis

By Patrick Honohan

Crisis! Ireland calls the IMF

• The Poverty-Corruption Nexus

  Argentina’s battle against corruption must be waged on many fronts

  By Laura Alonso

• A Market, Unified

  Arvind Subramanian explains the advantages of a new tax for India’s economy and budget

  By Arvind Subramanian

• E-stonia Takes Off

  Toomas Hendrik Ilves explains how digitalization can make people's lives a whole lot easier

  BY BRUCE EDWARDS

  Siim Sikkut on The Making of E-Estonia

Also in This Issue

A Helping Hand

In Japan and India, two women navigate life’s transitions

By Peter Langan and Reema Nanavaty

• Moving the Needle

  Maurice Obstfeld discusses his tenure as the IMF’s chief economist

  By Gita Bhatt

• A Competitive Africa

  Economic integration could make the continent a global player

  By Hippolyte Fofack

  Sub-Saharan Africa’s Push to Diversify

F&D Podcast Channel

Strong Safety Nets Strong Growth

Better tax policies can help strengthen social protection systems

By David Coady

The Future of Work in Sub-Saharan Africa

Advances in technology are shaking up the landscape for jobs

By Axel Schimmelpfennig

Land of the Rising Robots

In Japan, deaths outnumber births by 1,000 people per day on average.

By Todd Schneider

Avoiding the Remittance Trap

Remittances can also have a negative impact on growth

By Ralph Chami

Back to Basics

Current Economic Issues Explained

What Is Universal Basic Income?

Proponents hail simplicity and equity; skeptics worry about fiscal cost and incentives

By Maura Francese and Delphine Prady

• What Are Subsidies?

  Some government subsidies make sense, but often there are downsides

  By Benedict J. Clements and Ian Parry

• What Are Cryptocurrencies?

  A potential new form of money offers benefits while posing risks

  By Antoine Bouveret and Vikram Haksar

• What Is Inflation?

  Inflation measures how much more expensive a set of goods and services has become over a certain period, usually a year

  By Ceyda Öner

Series Archive

Book Reviews

EXPERTS REVIEW THE LATEST BOOKS

Israel and the World Economy: The Power of Globalization

By Assaf Razin

Reviewed by PHILLIP SWAGEL

• Globalization and Inequality

  By Elhanan Helpman

  Reviewed by FEDERICO ROSSI

• The Infinite Desire for Growth

  By Daniel Cohen

  Reviewed by Roger R. Betancourt

• Calculated Values: Finance, Politics, and the Quantitative Age

  By William Deringer

  Reviewed by Robert Heath

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

Cleaning Up

Countries are advancing efforts to stop criminals from laundering their trillions

Rhoda Weeks-Brown

• A Regulatory Approach to Fintech

  

  We must guard against emerging risks without stifling innovation

  Christine Lagarde, IMF Managing Director

• Toward Inclusive Growth

  

  Emerging markets should share the fruits of their growth more equitably

  Tao Zhang, IMF Deputy Managing Director

• A Two-Way Street

  

  Policymakers must address economic and political issues to strengthen globalization

  David Lipton, IMF First Deputy Managing Director

F&D Video Channel

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