Economy

The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

Recently in YaleGlobal

Daniel Twining
YaleGlobal
, 23 June 2016
The UK votes to leave the EU, and fury over cross-border economic and political cooperation won’t subside
Ian Shapiro and Nicholas Strong
YaleGlobal
, 26 May 2016
Boycotting Israeli firms that hire Palestinians won’t deliver peace; business-housing programs like New York’s Co-op City offer an alternative
Farok J. Contractor
YaleGlobal
, 12 April 2016
Nations struggle and compete with separate tax codes while multinationals treat the world as a single economic space
David Dapice
YaleGlobal
, 24 March 2016
World leaders blame open borders for economic woes, trying protectionist controls rather than reducing inequality
Stephen Roach
YaleGlobal
, 3 March 2016
The United States, Europe and China slowly follow Japan’s economy with low growth and stagnation
Farok J. Contractor
YaleGlobal
, 21 January 2016
Frugality and risk-taking in Chinese culture make for heady mix – and gyrations for global markets
> MORE YALEGLOBAL ARTICLES

In the News

Jessica Irvine
The Sydney Morning Herald
, 1 July 2016
Budget deficits – and failure to invest in education and infrastructure – are a tax on the young
Philip Bowring
Asia Sentinel
, 29 June 2016
Net foreign debt passes the $1 trillion mark
Rani Molla and Lisa Abramowicz
Bloomberg
, 20 June 2016
With the inevitable bust, though, investor losses may have outweighed price gains for consumers
The Economist
, 17 June 2016
Foreign aid may be spread too thin
Peter S. Goodman
The New York Times
, 17 June 2016
The uncertainty of Brexit unnerves global markets
Christian Teevs
Spiegel International
, 14 June 2016
Britain won’t escape regulations, and the London financial sector will lose influence
> MORE IN THE NEWS

More On Economy

COLUMN
Good governance is required to ensure fair distribution of globalization’s benefits
VIDEO
Kenya’s former Prime Minister Raila Odinga discusses how healthcare, education and economics should play a role in how Africans accelerate their development. This video is part of the Yale Global Perspectives series. To learn more about Yale and the World, visit world.yale.edu.
AUDIO
BOOK REVIEW
ACADEMIC PAPER
Wage inequality may have little association with economic growth, and reversing it would have little impact on growth