Simon Johnson

SIMON JOHNSON, A FORMER CHIEF ECONOMIST AT THE INTERNATIONAL MONETARY FUND, IS A PROFESSOR AT MIT’S SLOAN SCHOOL OF MANAGEMENT AND A CO-CHAIR OF THE COVID-19 POLICY ALLIANCE

Consumers know what they pay for groceries. Inflation works like an enormously regressive tax on poorer people and those on fixed or not fully indexed incomes (such as pensions).

Attacking the Federal Reserve is self-defeating

Why the Trump administration’s no-holds-barred campaign for lower interest rates is likely to backfire

In its eagerness to do the crypto industry’s bidding, the Congress has exposed Americans and the world to the real possibility of the return of financial panic and severe economic damage, implying massive job losses and wealth destruction.

The crypto crises are coming

The new US legislation leaves the industry where it wants to be – without regulatory safeguards

A proposal to impose sanctions on any company or individual in any country involved in a Russian oil and gas sale, with Russia paying a per shipment fee to the US Treasury to avoid these so-called secondary sanctions, would ideally pressure Kremlin into serious negotiations to end the war against Ukraine.

A US tariff idea that makes sense

The benefits of a bipartisan Senate bill that targets Russian oil exports will work well

Greenland is not for sale, but whoever leads after Mar 11 will presumably be in a strong position to bargain for more fiscal resources from Denmark.
THE BROAD VIEW

Greenland’s future must be decided by its people

US national security does not depend on gaining control over the island

Donald Trump’s “populist” agenda – a smoke-and-mirrors programme, sustained by fear of imagined enemies – is a failure foretold.
PERSPECTIVE

The economic consequences of Trump 2.0

Why reality is unlikely to come close to matching the US president-elect’s rhetoric

Only Vice-President Kamala Harris has a coherent programme of encouraging science, making it easier to commercialise innovations, and funding new business in all parts of the country.

Only Harris will deliver shared prosperity

Donald Trump’s discredited protectionism would benefit the few at the expense of the many

Even if Trump's proposed tariffs do not plunge the world into a self-destructive trade war, US trade partners would likely retaliate – and that will hurt everyone who works in America's successful and high-productivity export sector.
THE BOTTOM LINE

Trump’s proposed tariffs are a gift to the rich

Research shows that middle-class US households would foot the bill

With regard to the Chips and Science Act, Senator Maria Cantwell of Washington says: “We don’t know exactly what innovations will come out of this, but we do know this – America will be more competitive because of it."

Creating more good jobs

The 2022 US Chips and Science Act will nurture geographically dispersed innovation hubs

The latest phase of Great Power competition is much more about technology than it is about trade.
THE BROAD VIEW

Great Power competition today

Brics expansion is but a sideshow to the battle for global technological leadership

Russian crude oil tanker ship Clyde Noble is seen berthed at the Karachi Port, Pakistan, June 28, 2023. Pakistan received its second cargo of discounted Russian crude oil as part of a new deal between Islamabad and Moscow.

Why are Russian oil products still being sold in America?

All imports from “laundromat countries”, without exception, should now be prohibited