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 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.

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.

Wall Street and other markets plunged again

Another Big Market Collapse Heightens Fears of Global Recession

Fed fails to avert panic over coronavirus impact with no concrete U.S. fiscal stimulus in the offing and little government handle on the outbreak.

U.S. President Donald Trump attends a news conference about the ongoing global coronavirus pandemic in Washington on March 13.

Our Top Weekend Reads

Trump’s credibility is collapsing, government officials are hiding information about the coronavirus, and Putin is set to become Russia’s president for life.

U.S. President Donald Trump announced a travel ban in a belated effort to contain the coronavirus whose outbreak is decimating the U.S. and global economies, Mar. 11, 2020.

Major Economies Face a ‘Sudden Stop’

Following Trump's European travel ban, Dow plunges 10 percent in the worst trading day since "Black Monday" 1987.

U.S. President Donald Trump and Vice President Mike Pence discuss the administration’s coronavirus response

Trump and Other Leaders Grapple With Limited Economic Remedies for the Virus

With interest rates already at rock bottom and tax cuts too slow and unfocused, the U.S. president may find his best coronavirus response is a giant stimulus. But will he get one?

Traders like Peter Tuchman were hit with a global markets rout on Monday, fueled by crashing oil prices and mounting worries over the impact of the coronavirus, Mar. 9, 2020.

An Economic Pandemic

With markets plunging worldwide, Trump does an about-face and promises "major" efforts to contain the coronavirus and ease economic pain.

A security guard wearing a face mask looks at his mobile phone in a closed Apple store in Beijing on Feb. 5.

Blindsided on the Supply Side

The coronavirus outbreak has shown that supply-chain disruptions could wreak far greater havoc on the global economy—and national security—than most CEOs and governments realize.

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