Prime, Policy Research in Macroeconomics

An obsession with growth has generated massive inequality, undermined global economic stability, and weakened faith in democracy. Reversing these trends requires reining in the power of financial capital and managing global trade flows.This essay is part of a series of articles, edited by Stewart Patrick, emerging from the Carnegie Working Group on Reimagining Global Economic Governance. It was first published on 17 July 2024 on the Carnegie Endowment website.“Growth” is a term used by...

In Memory of Andre Gunder FrankA slightly edited version of this article first appeared in the Economic & Political Weekly on 11 May 2024.Economic GenocideThe concept of economic genocide originated in an article published in 1976 in this journal [Economic & Political Weekly]. In his open letter titled “Economic Genocide in Chile: Open Letter to Milton Friedman and Arnold Harberger,” Andre Gunder Frank (1976) gave a brief summary of the Chicago-style economic policy the military...

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A Path to Eden or Just Another Sin? Güney Düzçay and T. Sabri Öncü This article first appeared in the 24 November 2023 issue of the Indian journal, Economic and Political Weekly. Introduction The concept of “original sin” was introduced by Eichengreen and Hausmann (1999), defining it as “a situation in which the domestic currency cannot be used to borrow abroad or to borrow long term, even domestically.” Subsequently, Eichengreen et al. (2003) redefined the concept as a country’s inability...

A Path to Eden or Just Another Sin?Güney Düzçay and T. Sabri ÖncüThis article first appeared in the 24 November 2023 issue of the Indian journal, Economic and Political Weekly.IntroductionThe concept of “original sin” was introduced by Eichengreen and Hausmann (1999), defining it as “a situation in which the domestic currency cannot be used to borrow abroad or to borrow long term, even domestically.” Subsequently, Eichengreen et al. (2003) redefined the concept as a country’s inability to...

A Path to Eden or Just Another Sin?Güney Düzçay and T. Sabri ÖncüThis article first appeared in the 24 November 2023 issue of the Indian journal, Economic and Political Weekly.IntroductionThe concept of “original sin” was introduced by Eichengreen and Hausmann (1999), defining it as “a situation in which the domestic currency cannot be used to borrow abroad or to borrow long term, even domestically.” Subsequently, Eichengreen et al. (2003) redefined the concept as a country’s inability to...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023. Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023.Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023.Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

And for the cataclysmic gap between theory, policy and ecosystem collapse.[This article was first published on Ann’s Substack site, System Change, on 21st August 2023]The Financial Times’s Lex column is legendary.The editor, Jonathan Guthrie, argues that it is “the oldest and arguably most influential column of its kind” having first appeared in 1945. Lex is written by a collective – there are no author bylines because that would be inaccurate, writes Guthrie. The name is “a riff on the Latin...