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  1. bp munich security conference Photo by Johannes Simon/Getty Images
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    America’s Stab in the Back

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    PS editors, Tobias Bunde, Joschka Fischer, Philippe Legrain, Daniela Schwarzer, Sławomir Sierakowski, Mark Leonard, Friedrich Merz

    “There’s a new sheriff in town,” declared US Vice President J.D. Vance at this year’s Munich Security Conference. With his boss, “Sheriff” Donald Trump, openly disparaging America’s longstanding security commitments and actively undermining European security, the United States can no longer be trusted, and it is up to Europe’s leaders to bolster the continent’s defense capacity – and fast.

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    Ian Buruma on Gaza, Trump, authoritarianism, and more

    Ian Buruma says there is no chance US democracy will emerge from Donald Trump’s second administration unscathed, explains why the left is losing the culture war in the US and Europe, touts the enduring importance of the humanities, and more.
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    There Goes America

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    PS editors , Richard K. Sherwin , J. Bradford DeLong , Ian Buruma , Orville Schell , Peter Singer

    Within his first month back in the White House, Donald Trump has upended US foreign policy and launched an all-out assault on the country’s constitutional order. With US institutions bowing or buckling as the administration takes executive power to unprecedented extremes, the establishment of an authoritarian regime cannot be ruled out.

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    PS Quarterly

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  5. op_janeway18_DrAfter123Getty Images_AI DrAfter123/Getty Images
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    In AI We Trust?

    William H. Janeway explains why even cutting-edge innovations are not immune to the world’s inherent unpredictability.
  6. op_malmendier1_ INA FASSBENDERAFP via Getty Images_germanyrailway Ina Fassbender/AFP via Getty Images
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    Germany at a Crossroads

    Ulrike Malmendier, et al. urge policymakers to pursue bold structural reforms, rather than clinging to an outdated growth model.
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    Daniel Gros on DeepSeek, Germany's malaise, EU competitiveness, and more

    Daniel Gros hopes that a Chinese startup's apparent AI breakthrough will provide a much-needed boost to European competitiveness, advises the EU on how to deal with Donald Trump, urges Europe to improve conditions for bottom-up innovation, and more.
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    Why Does DeepSeek Matter?

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    PS editors , Daron Acemoglu , Charles Ferguson , Angela Huyue Zhang , Amar Bhidé

    Chinese tech startup DeepSeek’s release of a high-performance, low-cost artificial-intelligence platform has roiled financial markets and raised fundamental questions about the business models of American AI giants. Will the technology turn out to be a boon for competition in a critical industry, or should it be viewed as a geopolitical shot across the West’s bow?

  9. op_shafik2_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_trumpvance Andrew Caballero-Reynolds/AFP via Getty Images
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    World Order in a Time of Monsters

    Minouche Shafik highlights the critical importance of reinvigorating social contracts at the national level.
  10. bp oligarchy Photo by JULIA DEMAREE NIKHINSON/POOL/AFP via Getty Images
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    Oligarchy in America

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    PS editors , Daron Acemoglu , J. Bradford DeLong , Joseph E. Stiglitz , Katharina Pistor

    Though Donald Trump attracted more support than ever from working-class voters in the 2024 US presidential election, he has long embraced an agenda that benefits the wealthiest Americans above all. During his second term, however, Trump seems committed not just to serving America’s ultra-rich, but to letting them wield state power themselves.

  11. op_pei3_Hulton-Deutsch CollectionCORBISCorbis via Getty Images_zhouenlai Hulton-Deutsch Collection/Corbis via Getty Images
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    The Tragedy of Zhou Enlai

    Minxin Pei reflects on the complicated life and legacy of the renowned diplomat who was Mao Zedong’s dutiful lieutenant.
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    Yi Fuxian on China's decision-making, economic prospects, demographic crisis, and more

    Yi Fuxian warns that China's government and mainstream analysts are still underestimating the severity of the country's demographic crisis, identifies some of the gravest policy mistakes Donald Trump's administration is at risk of making vis-a-vis China, explains why China’s middle class will never be strong enough to bring about a democratic transition, and more.
  13. op_bivens1_JIM WATSONAFP via Getty Images_bidenworkers Jim Watson/AFP via Getty Images
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    America’s Workers Are About to Be Forgotten Again

    Josh Bivens & Heidi Shierholz contrast the Biden administration's pro-worker policies with what Donald Trump is likely to do.
  14. op_janeway17_Natalya KosarevichGetty Images_moneyhandslightbulb Natalya Kosarevich/Getty Images
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    False Economies

    William H. Janeway highlights the high cost of the single-minded focus on efficiency that has come to dominate the discipline.

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PS OnPoint

The world’s diplomatic, political, and economic divisions continue to harden – both between countries and within them. Whereas 2022 and 2023 featured a war of attrition in Ukraine, we have since entered a broader world of attrition, with zero-sum conflicts multiplying across the board.

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