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    The Pandemic and Our Broken Social Contracts

    Minouche Shafik

    Behind frustrating, unnecessary problems like vaccine hesitancy lies a broader crisis of trust. The solution, argues the director of the London School of Economics and Political Science, is to rethink the basic terms of the relationship between individuals, firms, civil society, and the state.

    shows why confronting problems like COVID-19 will require a broader political overhaul.
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    Inflation Remedies

    Featured in this Big Picture
    1. John H. Cochrane John H. Cochrane ,
    2. Jürgen Stark Jürgen Stark ,
    3. Thomas Mayer Thomas Mayer ,
    4. Gunther Schnabl Gunther Schnabl ,
    5. Melvyn B. Krauss Melvyn B. Krauss ,
    6. Jayati Ghosh Jayati Ghosh ,
    7. Dani Rodrik Dani Rodrik ,
    8. Jason Furman Jason Furman

    With the rate of price increases in the United States and the eurozone currently at multi-decade highs, many argue that central bankers have been asleep at the switch. But is rapid monetary-policy tightening necessarily the most appropriate response to the current inflationary surge, and how can economists better anticipate the next one?

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op_shafik1_erhui1979Getty Images_brokencontract erhui1979/Getty Images

The Pandemic and Our Broken Social Contracts

Minouche Shafik

Behind frustrating, unnecessary problems like vaccine hesitancy lies a broader crisis of trust. The solution, argues the director of the London School of Economics and Political Science, is to rethink the basic terms of the relationship between individuals, firms, civil society, and the state.

shows why confronting problems like COVID-19 will require a broader political overhaul.
0
money flags masterSergeant/iStock/Getty Images

Inflation Remedies

Featured in this Big Picture
  1. John H. Cochrane John H. Cochrane ,
  2. Jürgen Stark Jürgen Stark ,
  3. Thomas Mayer Thomas Mayer ,
  4. Gunther Schnabl Gunther Schnabl ,
  5. Melvyn B. Krauss Melvyn B. Krauss ,
  6. Jayati Ghosh Jayati Ghosh ,
  7. Dani Rodrik Dani Rodrik ,
  8. Jason Furman Jason Furman

With the rate of price increases in the United States and the eurozone currently at multi-decade highs, many argue that central bankers have been asleep at the switch. But is rapid monetary-policy tightening necessarily the most appropriate response to the current inflationary surge, and how can economists better anticipate the next one?

0
russia trucks Russian Defense Ministry Press Office/Handout/Anadolu Agency via Getty Images

Why Kazakhstan Matters

Featured in this Big Picture
  1. Djoomart Otorbaev,
  2. Nargis Kassenova,
  3. Sławomir Sierakowski,
  4. Nina L. Khrushcheva

Following several days of violent nationwide protests, the Kazakh authorities, with the help of Russian-led forces, appear to have restored order. For the United States and China, the episode has highlighted the strategic importance of this resource-rich Central Asian country, as well as the scope of Russian President Vladimir Putin’s imperial ambitions.

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America, One Year On

Featured in this Big Picture
  1. Michael Lind,
  2. J. Bradford DeLong,
  3. Elizabeth Drew,
  4. Jan-Werner Mueller,
  5. Cynthia Miller-Idriss,
  6. Elmira Bayrasli,
  7. James K. Galbraith,
  8. Harold James

Twelve months after an insurrectionist right-wing mob incited by then-President Donald Trump stormed and occupied the US Capitol, many Americans fear that deepening polarization could result in a sequel, or worse. In the absence of agreement on basic facts and rules of political engagement, can further violence and threats to democracy be prevented?

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