215 Items

Blog Post - Views on the Economy and the World

Surprisingly Strong Sanctions

| Mar. 23, 2022

The surprising strength of economic sanctions deployed multilaterally against Russia this month has been exceeded only by the surprising strength of the heroic Ukrainian resistance to the invasion of their territory.  True, it is hard to imagine sanctions bringing the Russian economy to its knees faster than Russian troops are able to complete the hundred-mile advance to Kyiv from the border.  But sanctions have gone macroeconomic.  Ultimately, the Russian economy will suffer severely and lastingly.

Blog Post - Views on the Economy and the World

El Salvador Exemplifies the Surrealism of Cryptocurrencies

| Sep. 26, 2021

El Salvador this month became the first country to adopt a cryptocurrency, Bitcoin, as legal tender.  One says “the first” as if there will be others.  But the idea is highly dubious.

I will admit, like many economists, that I fail to see what problem cryptocurrencies solve. They aren’t well designed to fulfill any of the classic functions of money — unit of account, store of value, or means of payment – in part because they are so extraordinarily volatile in price.  This volatility is not surprising, since they are backed neither by reserves nor by the reputation of a well-established institution, such as a government or even a private bank or other trusted corporation.

Blog Post - Views on the Economy and the World

You Don’t Miss International Cooperation Until It's Gone

| Dec. 02, 2020

As Joni Mitchell sang, “you don’t know what you’ve got ‘til it’s gone.”   Classroom education was often deemed boring by students and obsolete by tech visionaries.  Then the coronavirus made it difficult or impossible to meet in person.  The result:  We yearn for the irreplaceable in-class experience.
Perhaps the same is true of international economic cooperation. It was never especially popular. The theory, first formulated in a 1969 paper by Richard Cooper, said that countries could agree to coordinated bargains that achieved better outcomes, relative to the “Nash non-cooperative equilibrium.”  But economists thought of plenty of reasons to be skeptical.  The multilateral institutions of cooperation such as the World Trade Organization, the International Monetary Fund, and the United Nations agencies, were downright unpopular among the public.  Many Americans regarded them as invading US sovereignty, while other countries viewed them as an invasion of their sovereignty by the US.

John Bolton speaking at the gathering of the People's Mujahedin of Iran in front of headquarters of the United Nations, New York City

VOA Persian

Blog Post - Iran Matters

U.S.-Led Regime Change is not the Path

    Author:
  • Sina Toossi
| Oct. 11, 2018

For much of Iran's modern history, the Iranian people have been divided on issues such as traditionalism versus modernity and the nature of their relationship with the West. These divisions only highlight the need for organic political change to allow society to find common ground. However, outside political interventionism has been a constant setback, whether during the Constitutional Revolution period, the 1953 US/UK coup, or now with Trump's exhortations and actions.

Iran Currency

AP Photo/Vahid Salemi

Blog Post - Iran Matters

Is Iran's Economy Collapsing?

    Author:
  • Arash Pourebrahimi
| Aug. 07, 2018

Iran’s economy is having difficulties for sure but is far from “collapsing”. While the Iranian rial has lost more than 50 percent of its value against the US dollar in the unofficial market since January 2018, this is nothing new for Iran’s economy. Every president since the end of Iran-Iraq war had to deal with a sort of analogous currency crisis.

Rouhani

Tasnim News

Blog Post - Iran Matters

A Wake-up Call to Rouhani

    Author:
  • Masoud Movahed
| Jan. 17, 2018

The recent protests in Iran are surely a wakeup call for President Rouhani. To respond the legitimate grievances of low-income Iranian households, the Rouhani government should do its best to further diversify the Iranian economy and to bolster its manufacturing and industrial sectors. The Rouhani government should also promote the export of non-oil products, following the models of countries such as South Korea, Taiwan, and recently, the Chinese leviathan. Labor-intensive industries as well as service sectors like information technology, ought to be solidified. Rouhani should call upon state-directed industrial committees and agencies to provide Iranian entrepreneurs and manufacturers with fiscal resources, and he should foster financial support and protection for firms that place emphasis on exporting goods abroad.

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Blog Post - Belfer Center for Science and International Affairs, Harvard Kennedy School

Trade and Inequality Within Countries

| Jan. 05, 2018

Inequality has been on the rise within the United States and other advanced countries since the 1980s and especially since the turn of the century.  The possibility that trade is responsible for the widening gap between the rich and the rest of the population has of course become a major political preoccupation

Prime Minster Saad Hariri

Wikicommons

Blog Post - Iran Matters

Lebanon Caught in the Crosshairs

| Dec. 06, 2017

Eight long days after the shocking resignation of Lebanon’s Prime Minister out of Saudi Arabia, Saad Hariri made his first public appearance. On the evening of Sunday, 12 November, the Arab world gathered in front of the TV, for not only the future of Lebanon was at stake but that of the entire region. The small country on the eastern Mediterranean coast had again been catapulted onto the main stage of the region’s heated geopolitical rivalries. The interview Hariri gave also took place in the Saudi kingdom, which had spurred speculations that he was held there against his will. During that interview, he could barely invalidate that impression: The tensions in the room were palpable. Too clearly his body language and his contradictory statements were a display of massive pressure that lied on him.

tehran, iran

WikiCommons

Blog Post - Iran Matters

"Tehran: A City of Hope, Participation and Prosperity"

    Author:
  • Sahar Saeidnia
| Nov. 22, 2017

One might find the motto of the newly elected reformist mayor of Tehran, Mohammad Ali Najafi, surprising and inconsistent with the Islamic Republic of Iran’s (IRI) political project. Or, conversely, one might interpret it, along with the victory of many reformist candidates in the 2017 local council elections, as a sign of the regime’s opening. Yet, this binary undermines the “complexity of the Iranian puzzle” and is reductive of domestic political processes that have shaped competitive Iranian factionalist politics since 1979.

Rouhani and Salehi outside the Bushehr Nuclear Plant

Tasnim News

Blog Post - iran-matters

An Iranian Nuclear Business Deal for Trump

    Author:
  • Sayed Hossein Mousavian
| Nov. 01, 2017

As the world’s largest nuclear facilities operators, U.S. corporations understand all aspects of nuclear programs. Employing those same corporations to partner and collaborate with Iran on nuclear projects would be a major confidence-building step that would secure trust between the two sides after the sunset provisions of the deal expire. The people of Iran and the United States have never been enemies. Now is the time to seek a legitimate business-based compromise that can allow the United States and Iran to fully execute the JCPOA in full compliance with both the substance and intent of each of the deal’s signatories while pursing the long-term goal of eliminating the growth and proliferation of nuclear weapons and nuclear terrorism. To this end, Iran and the US can in parallel collaborate on eliminating the risk of proliferation in the region and establishing a Middle East free from all weapons of mass destruction.