Economics

A monitor displays a patient's vital signs in the intensive care unit at the Royal North Shore Hospital in Sydney on March 9, 2007.

Coronavirus and the End of Economics

Why standard economic theories have no answers for this kind of crisis.

North vs. South: The Netherlands competes against Spain in the 2010 FIFA World Cup Final in Johannesburg on July 11, 2010. The Netherlands, like Germany, is resisting Southern Europe’s calls for fiscal solidarity as the coronavirus causes economic chaos across the continent.

Fighting Pandemic, Europe Divides Again Along North and South Lines

Southern countries push for a eurobond while the wealthy North says “nein.”

Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, Russian President Vladimir Putin, South African President Cyril Ramaphosa, and Brazilian President Jair Bolsonaro attend the 11th BRICS Summit in Brasilia, Brazil, on Nov. 14, 2019.

The Coronavirus Is the Biggest Emerging Markets Crisis Ever

The pandemic is starting to topple one of the pillars of the globalization era.

Wembley Way is seen thanking the NHS

Today’s Coronavirus Anger Can Revive Tomorrow’s Welfare State

Under the right conditions, social frustration can herald the dawn of new political solidarity.

An aid worker measures a woman's temperature at the Kibera slum in Nairobi, Kenya, on March 18.

Africa Is Bracing for a Head-On Collision With Coronavirus

As the pandemic reaches the continent, countries from Morocco to Malawi are facing a health crisis and an economic shock.

An American propaganda poster from World War II.

The Coronavirus War Economy Will Change the World

When societies shift their economies to a war footing, it doesn’t just help them survive a crisis—it alters them forever.

Traffic in Beijing

Can Europe and the U.S. Follow China’s Lead on Economic Recovery?

China may be getting something close to a V-shaped bounceback from the coronavirus. The question is whether it can last—and whether the rest of the world can achieve anything like it.

U.S. Federal Reserve Chairman Jerome Powell has unveiled unprecedented measures, including unlimited Fed support, announced Monday, to help contain the fallout of Covid-19, Mar. 3.

Fed Fails to Stem Market Bloodbath as Congress Stumbles on Aid Package

Economists say the sudden slowdown in economic activity from the coronavirus has no precedent in U.S. history.

Demonstrators protest against government bailouts of banks in front of the New York Stock Exchange, in New York City on Oct. 24, 2008.

This Time, Can We Finally Turn a Financial Crisis Into an Opportunity?

Once again, markets are crashing and taxpayers are bailing out wealthy insiders. It's time we reform this perverse social contract.

Christine Lagard, the president of the European Central Bank, speaks in Frankfurt, Germany, on March 12.

Europe’s Central Bank, in About-Face, Swoops in to Save a Virus-Afflicted Continent

Only a week after implying she didn’t care about shielding more debt-troubled economies, the ECB's Lagarde reveals a 750 billion-euro fix. But the bitter trade war with U.S. resumes.

Pedestrians wearing face masks walk toward an electric board showing stocks' share price

Is the Coronavirus Crash Worse Than the 2008 Financial Crisis?

The last global economic crisis was a financial heart attack. This one might be a full-body seizure.

Iranian firefighters disinfect streets in Tehran in a bid to halt the spread of the coronavirus on March 13.

The Coronavirus Crisis Is a Diplomatic Opportunity for the United States and Iran

Washington and Tehran could use the public health emergency to show goodwill, dial down tensions while saving face, and avoid a dangerous confrontation.

U.S. President Donald Trump, left, and Treasury Secretary Steven Mnuchin

Trump’s Big Turnaround: Cash Payments Instead of a Payroll Tax Cut

Parsing the latest economic fixes to the economic devastation being caused by the coronavirus.

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