economic history

Federal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on Feb. 27, 2018.

Beware SOFR

With the global economy slowing, the world has a new acronym to worry about.

A man looks at his phone near a giant image of the Chinese national flag on the side of a building in Beijing on Oct. 23, 2017.

China’s Record on Intellectual Property Rights Is Getting Better and Better

The country is making the transition from net importer of ideas to net innovator, and as it does, it is finding that good patent laws matter.

A man walks up the steps in front of the U.S. Capitol in Washington on Jan. 20, 2018.

The United States’ Problems Aren’t What You Think They Are

America’s decline resembles nothing so much as the collapse of the Ottoman Empire. Presidential candidates should take note.

A loaded cargo ship sits in the Yangshan Deep-Water Port in China on Dec. 6, 2017. (AFP/Getty Images)

The Dangers of Trade Orthodoxy

By shoving the very idea of trade tensions under the table, models undermine coherent discussion of how to handle them.

U.S. President Donald Trump holds up a signed presidential memorandum aimed at what he calls Chinese economic aggression at the White House on March 22. (Mark Wilson/Getty Images)

The Ghost of Smoot-Hawley

On the podcast: The United States’ last big trade war was in 1930. It did not end well.

John Tomac illustration for Foreign Policy

First They Came for the Immigrants. Then They Came for the Robots.

Politicians must prepare voters for automation; otherwise, opportunistic populists will seize the agenda.

Businessman walking on tightrope supported by stacks of coins

When the Welfare State Met the Flat Tax

Milton Friedman and Bernie Sanders both agree on the need for a universal basic income, but the devil is in the details.

AFGHANISTAN-MINING-ACCIDENT

Afghanistan Watchdog: Poor U.S. Planning Puts $488 Million at Risk

According to a new report from the special inspector general for Afghanistan reconstruction, lack of government strategy puts $500 million of American taxpayers' money at risk.

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