Latest Issue

THE FUTURE OF JOBS AND OPPORTUNITY

Window for Change

In the deepest crises are born great opportunities. This is such a moment—a window for radical change, not to be squandered

By Gita Bhatt

• The Long Shadow of an Unlucky Start

  Youth who graduate in a crisis will be profoundly affected and may never fully recover

  BY Hannes Schwandt and Till von Wachter

• Rethinking the World of Work

  The pandemic is accelerating a shift toward more informal and precarious work

  By Sabina Dewan and Ekkehard Ernst

• How to Make America More Equal

  A leading progressive economist proposes steps to transform the US economy at this critical juncture

  By Heather Boushey

People in Economics

The Accidental Economist

Lisa D. Cook

The Michigan State professor shows how racism and sexism hurt us all

By Hyun-Sung Khang

• Mariana Mazzucato

  Tireless proponent of government-led innovation

  By Bob Simison

• Esther Duflo and Abhijit Banerjee

  Nobel Prize Winners Duflo and Banerjee are reinventing economics

  By Andreas Adriano

• Olivia S. Mitchell

  Wharton’s retirement behaviorist, who is a founder of modern pension research

  By Peter J. Walker

• Edward Glaeser

  Harvard’s Edward Glaeser sees urbanization as a path to prosperity

  By Chris Wellisz

Series Archive

Point of View

OP-ED PIECES FROM LEADING THINKERS

Distribution Matters

Economics can’t avoid distributional issues—It must make room for insights from other disciplines

By Binyamin Appelbaum

• Conquering the Great Divide

  The pandemic has laid bare deep divisions, but it’s not too late to change course

  By Joseph Stiglitz

• Delivering Debt Relief for the Poorest

  Converting debt liabilities into investments that protect children is good economics and an ethical imperative

  By Kevin Watkins

• On Central Bank Independence

  The author of Unelected Power discusses constitutionalist central banking in a world of inert politics

  By Paul Tucker

In the Trenches

One-on-one with Policymakers

Cracking Down
on Corruption

The EU’s first anti-fraud prosecutor reflects on the challenges of tackling transnational crime

By Rahim Kanani

• Staying the Course

  Jamaica’s former central bank governor Brian Wynter explains the challenges of modernizing monetary policy

  By Olga Stankova

• The Medellín Miracle

  Prioritizing security and sustainability paved the way for a 21st century city

  By Marjorie Henríquez

• Rebuilding Somalia

  Finance Minister Abdirahman Dualeh Beileh sees hope for his country’s economic development

  By Bruce Edwards

• Going against the Tide

  Brazil's Ilan Goldfajn explains why central bankers ought to follow their convictions

  By Andreas Adriano

• Convincing the Markets

  Peter Praet revisits the ECB's unconventional monetary policy response to the euro crisis

  By Rebecca Christie

Currency Notes

Making History

Tunisia honors the country’s first female physician on its 10 dinar banknote

By Melinda Weir

Picture This

Uncertain Age

Th e pandemic is taking a toll on young people

BY Melinda Weir

• Food Insecure

  The viral pandemic is bringing a new global hunger crisis

  BY Adam Behsudi

Online Exclusives

The Secret Work of Elephants

African forest elephants fight climate change by contributing in surprising ways to natural carbon capture

By Ralph Chami, Connel Fullenkamp, Thomas Cosimano, and Fabio Berzaghi

• Tribute to Alberto Alesina (1957–2020)

  By Gita Gopinath

• A Matter of Life and Death

  It’s time to decide how best to allocate scarce medical resources.

  By David E. Bloom, Daniel Cadarette, Maddalena Ferranna, and Benjamin Seligman

• Menno Snel on Tackling Tax Avoidance

  The Dutch Finance Ministry is working to stamp out tax avoidance.

  By Maureen Burke

Also in This Issue

Wish You Were Here

Tourism-dependent economies are among those harmed the most by the pandemic

By Adam Behsudi

• Rescuing Their Inheritance

  Youth can drive society’s response to the COVID-19 crisis, even as they keenly feel its effects

  BY Hamad AlMahmeed, Ashleigh Streeter-Jones, David Walcott, and Tiffany Yu

• Shaping a Data Economy

  The world needs a new system of governance for the buying and selling of data

  By Murat Sonmez

• Rebuilding Worker Power

  Systematic erosion of workers’ power relative to their employers has suppressed US wages

  By Lawrence Mishel

F&D Podcast Channel

Pandemic is but a Prelude to Looming Climate Crisis

Despite long-standing warnings from scientists, the world was simply unprepared for this pandemic.

Ulrich Volz

Sub-Saharan Africa Faced with Regaining Lost Ground

The global pandemic has put intense pressure on economies across sub-Saharan Africa.

Papa N’Diaye

Unprecedented Fiscal Response to an Unprecedented Crisis

Massive fiscal support provided since the start of the crisis has been effective at saving lives and livelihoods.

Vitor Gaspar

The Long Ascent from the Depths of the Crisis

Countries are facing a difficult climb that will be uneven, uncertain and prone to setbacks.

Kristalina Georgieva

Back to Basics

Current Economic Issues Explained

What Is the Informal Economy?

Having fewer workers outside the formal economy can support sustainable development

By Corinne Deléchat and Leandro Medina

• What Is Debt Sustainability?

  Many factors go into assessing how much debt a developing economy can safely carry

  By Dalia Hakura

• How Can Interest Rates Be Negative?

  Countries are starting to experiment with negative interest rates

  By Vikram Haksar and Emanuel Kopp

• What Is Stress Testing?

  Checking the health of banks is crucial to financial stability

  By Martin Čihák, Hiroko Oura, and Liliana Schumacher

• What Is Carbon Taxation?

  Carbon taxes have a central role in reducing greenhouse gases

  By Ian Parry

  How Fiscal Policies Can Help Save the Planet

Series Archive

Book Reviews

EXPERTS REVIEW THE LATEST BOOKS

Invisible Women:
Data Bias in a World Designed for Men

By Caroline Criado Perez

Reviewed by KALPANA KOCHHAR

• Boom and Bust: A Global History of Financial Bubbles

  By William Quinn and John D. Turner

  Reviewed by FABIO NATALUCCI

• Making a Modern Central Bank: The Bank of England 1979–2003

  By Harold James

  Reviewed by PAUL TUCKER

Straight Talk

IMF LEADERSHIP ON KEY GLOBAL ISSUES

No Going Back

Investing in policies for people will help shape a better economy for the postcrisis world

BY Kristalina Georgieva

• Knightmare Uncertainty

  

  In the COVID-19 world, risk has become riskier

  BY Geoffrey Okamoto

• Beyond the Crisis

  

  Now is the time to take advantage of this opportunity to build a better world

  Kristalina Georgieva

• The Adaptive Age

  

  No institution or individual can stand on the sidelines in the fight against climate change

  Kristalina Georgieva

• Updating Bretton Woods

  

  Renewed commitment to global economic cooperation is needed

  Christine Lagarde

F&D Video Channel

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F&D Masthead

• Gita Bhatt, Editor-In-Chief
• Maureen Burke, Managing Editor
• Rahim B. Kanani, Digital Editor
• Andreas Adriano, Senior Editor

• Peter J. Walker, Senior Editor
• Adam Behsudi, Senior Editor
• Lijun Li, Online Editor
• Melinda Weir, Production Manager