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Curated by Project Syndicate

Dismal Soothsaying

15 commentaries

Economists' spectacular failure to foresee crucial recent developments – including the collapse in the US housing market, the onset of the global financial crisis, and the duration and depth of the Great Recession – has powerfully undermined the credibility of the discipline's models and assumptions. What went wrong, and how can economists regain the trust of policymakers and citizens?

  1. anheier26_Markus Lenhardtpicture alliance via Getty Images_reichstag Markus Lenhardt/picture alliance via Getty Images

    What Germany’s Next Government Must Do

    Helmut K. Anheier argues that whoever wins the upcoming snap election must make progress in four key areas.
  2. op_yhuang2_BRENDAN SMIALOWSKIAFP via Getty Images_trumpmaga Brendan Smialowski/AFP via Getty Images

    To Win Back Voters, Democrats Should Let Trump Be Trump

    Yasheng Huang

    By voting for Republican candidates, working-class voters effectively get to have their cake and eat it, expressing conservative moral preferences while relying on Democrats to fight for their basic economic security. The best strategy for Democrats now will be to permit voters to face the consequences of their choice.

    urges the party to adopt a long-term strategy aimed at discrediting the MAGA ideology once and for all.
  3. basu107_JimWatsonGettyImages_steelworkers_trump1 Jim Watson/Getty Images

    What If Trump Keeps His Promises?

    Kaushik Basu warns that the president-elect’s proposed trade policies will erode America’s competitiveness.
  4. singer236_ohn SenterUCGUniversal Images Group via Getty Images)_trump harris ads John Senter/UCG/Universal Images Group via Getty Images)

    What Progressives Must Learn from Trump’s Campaign

    Peter Singer thinks one of the most important lessons is to uphold open debate and address hot-button issues head-on.
  5. eichengreen196_Sheng JiapengChina News ServiceVCG via Getty Images_brics Sheng Jiapeng/China News Service/VCG via Getty Images

    The BRICS Currency Charade

    Barry Eichengreen chronicles the latest vain attempt to create an alternative to the dollar-based international monetary system.
  6. elerian174_Michael M. SantiagoGetty Images_economy Michael M. Santiago/Getty Images

    Once Again, It Was the Economy, Stupid

    Mohamed A. El-Erian

    The economy played a critical role in the 2024 presidential race, creating the conditions not only for Donald Trump to trounce Kamala Harris, but also for a counter-elite to usher in a new power structure. Will the Democrats and “establishment” experts get the message?

    explains how and why Democrats failed to connect with US voters’ pocketbook realities.
  7. COP29 Accelerating the Transition to a Decarbonized Future Event Thumbnail

    PS Events: COP29 Live From Baku

    PS editors present the COP29 Live From Baku event.
  8. barfi27_MANDEL NGANAFP via Getty Images_trumpnetanyahu Mandel Ngan/AFP via Getty Images

    Trumpian Turmoil Is Coming to the Middle East

    Barak Barfi thinks that the regional leaders who are cheering now may soon be pining for a less capricious leader.
  9. galbraith38_MandelNganGettyImages_democrats_funeral Mandel Ngan/Getty Images

    The Democrats Committed Suicide This Year

    James K. Galbraith thinks the party has only itself to blame for losing the 2024 election on low voter turnout.

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