The Economic Costs of Closed Minds
While there are exceptions, hyper-nationalism is usually disastrous for an economy in the long run. At a time when policymakers are confronting an ongoing public-health crisis, and in some cases the threat of violent turmoil, the economies that succeed will be those whose leaders keep a clear head.
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NEW YORK – This year began amid widespread despondency about the resurgent COVID-19 pandemic and the struggling global economy, as well as premonitions of heightened political conflict in Eastern Europe, the Middle East, and even the United States. True, there is now some hope that the Omicron variant may be the pandemic’s last hurrah. But troubling questions remain about the economic and political legacy of the crisis.