As he watched his country flail early in the COVID-19 pandemic, the Nobel laureate economist Paul Romer argued that only by taking a dramatic, concerted step, carried out simultaneously nationwide, would the United States be able to stop the spread of the virus and contain its spiraling costs. At the time, in April 2020, Romer said that the United States should commit an estimated $100 billion dollars to a crash national testing program that would allow the quarantining of people who were positive and thereby stop the spread of the pathogen to others. This, he argued, was a pittance compared [...]
On Oct. 3, the International Consortium of Investigative Journalists released 11.9 million confidential files, known as the Pandora Papers, that documented how world leaders, oligarchs and business elites park their wealth in offshore jurisdictions. Like the Panama Papers of 2016, this new leak brought shell companies and offshore jurisdictions under intense public scrutiny for their role in helping the rich and powerful evade taxes and ignore the transparency requirements by which their fellow citizens and competitors must abide. What was perhaps most damning was the inclusion of five U.S. states—South Dakota, Florida, Delaware, Texas and Nevada—among the list of favored offshore [...]
Next week, U.S. President Joe Biden will convene his Global Summit for Democracy, a virtual gathering of global leaders that aims to promote human rights, counter corruption and discuss ways to strengthen democracy against a rising tide of authoritarianism across the world. The event fulfils a campaign promise made by then-candidate Biden to organize a summit of democracies during his first year in office. The gathering has been dismissed in some quarters as a hollow performative exercise, rendered meaningless by the inevitable controversy over the guest list. But arguments about the substance of the summit, as well as which countries were [...]
