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Skip to main content Project Syndicate - Back to home * Newsletters * Magazine * Subscribe * Log in * Search * Menu * Latest * Columnists * Sections * Economics * Politics * Development * Sustainability * Culture * Innovation * Topics * Ukraine * The Female Voice * Democracy * COVID-19 * Africa * View all * On Point * Say More * Big Picture * Multimedia * Videos * Podcasts Don’t miss what Jeremy Allaire, Hester Peirce, Carmen Reinhart, Raghuram Rajan, and more had to say at our latest virtual event, Finance 3.0. Click here to watch. 1. How to Design a Pandemic Preparedness and Response Fund Economics Sonny Tumbelaka/AFP via Getty Images HOW TO DESIGN A PANDEMIC PREPAREDNESS AND RESPONSE FUND Mariana Mazzucato & Alan Donnelly This month, G20 finance ministers and central bank governors will be discussing a new financing vehicle to help all countries develop the capacity to stop future health emergencies before they get out of hand. But success ultimately will depend on whether they can embrace new governance principles and methods. highlight four conditions that the G20's proposed financing vehicle must meet in order to succeed. 0 Add to Bookmarks 2. War in a World that Stands for Nothing Politics Chris McGrath/Getty Images WAR IN A WORLD THAT STANDS FOR NOTHING Slavoj Žižek argues that Vladimir Putin’s invasion of Ukraine is exposing unsavory truths about Russia and the West alike. 8 Add to Bookmarks * Slavoj Žižek From Cold War to Hot Peace 3. A Perfect Storm for Developing Countries Economics Khaled Desouki/AFP via Getty Images A PERFECT STORM FOR DEVELOPING COUNTRIES Ngaire Woods urges leading economies to cooperate to prevent famine, conflict, and a major debt crisis. 0 Add to Bookmarks * Liam Byrne Summoning the Spirit of Bretton Woods 4. The False Promise of Democratic Peace Culture Oliver Helbig Getty Images THE FALSE PROMISE OF DEMOCRATIC PEACE Robert Skidelsky identifies fundamental flaws in the argument that dictatorship is the main barrier to world peace. 9 Add to Bookmarks * Michael Marder The Implosion of History 5. This Inflation Is Demand-Driven and Persistent Economics Costfoto/Future Publishing via Getty Images THIS INFLATION IS DEMAND-DRIVEN AND PERSISTENT Jason Furman Although inflation has risen sharply for multiple reasons, increased demand is by far the most important factor. The common argument about strangled ports, microchip shortages, and other supply-side issues simply cannot explain why advanced economies grew so briskly in 2021. emphasizes that all the stories about supply shortages cannot explain the economic big picture. 0 Add to Bookmarks 6. The Russian Coup Fantasy Politics MIKHAIL KLIMENTYEV/SPUTNIK/AFP via Getty Images) THE RUSSIAN COUP FANTASY Barak Barfi explains why the country’s military leaders are highly unlikely to oust President Vladimir Putin. 0 Add to Bookmarks * Anders Åslund Putin’s Failed State 7. How the G7 Can Support Africa’s Climate Agenda Sustainability Now John Wessels/AFP via Getty Images HOW THE G7 CAN SUPPORT AFRICA’S CLIMATE AGENDA Olumide Abimbola & Zainab Usman argue that South Africa’s recent green-financing deal provides a template for other countries in the region. 0 Add to Bookmarks * Yvonne Aki-Sawyerr Empowering Healthy, Resilient Hometowns 8. The Global Methane Imperative Smart Development Orjan F. Ellingvag/Corbis via Getty Images THE GLOBAL METHANE IMPERATIVE Sarah Vogel & Marcelo Mena urge concerted action to reduce emissions of a greenhouse gas that is 80 times more potent than carbon dioxide. 0 Add to Bookmarks * Hélène Rey Observing the Green Swans 9. The Forgotten Origins of Silicon Valley PS OnPoint Smith Collection/Gado/Getty Images Subscriber Exclusive THE FORGOTTEN ORIGINS OF SILICON VALLEY William H. Janeway shows how the venture capital industry has always piggybacked on US government investment. 2 Add to Bookmarks * William H. Janeway The Making of the Digital Revolution 10. PS Events: Finance 3.0 PS EVENTS: FINANCE 3.0 At Finance 3.0, our latest virtual event, Jeremy Allaire, Hester Peirce, Carmen Reinhart, Raghuram Rajan, and more considered how to maximize the benefits and mitigate the risks of cryptocurrencies, digital payments, and decentralized finance. Watch Now 1. What If Germany Boycotts Russian Energy? WHAT IF GERMANY BOYCOTTS RUSSIAN ENERGY? Dalia Marin points to credible economic modeling showing that the economic costs would be large but not catastrophic. 7 Add to Bookmarks 2. The End of an Economic Illusion THE END OF AN ECONOMIC ILLUSION John H. Cochrane shows how the return of inflation is forcing pundits and policymakers to abandon wishful thinking. 18 Add to Bookmarks 3. Storm Clouds Over the Global Economy STORM CLOUDS OVER THE GLOBAL ECONOMY Eswar Prasad identifies major headwinds that will leave policymakers in most countries with few good options. 2 Add to Bookmarks 4. France’s Presidential Election Matters for Us All FRANCE’S PRESIDENTIAL ELECTION MATTERS FOR US ALL Chris Patten argues that the second-round runoff on April 24 represents a crucial test for democracy. 0 Add to Bookmarks LATEST 1. The Global Methane Imperative Orjan F. Ellingvag/Corbis via Getty Images THE GLOBAL METHANE IMPERATIVE Apr 20, 2022 Sarah Vogel & Marcelo Mena urge concerted action to reduce emissions of a greenhouse gas that is 80 times more potent than carbon dioxide. 0 Add to Bookmarks 2. How the G7 Can Support Africa’s Climate Agenda John Wessels/AFP via Getty Images HOW THE G7 CAN SUPPORT AFRICA’S CLIMATE AGENDA Apr 20, 2022 Olumide Abimbola & Zainab Usman argue that South Africa’s recent green-financing deal provides a template for other countries in the region. 0 Add to Bookmarks 3. The Russian Coup Fantasy MIKHAIL KLIMENTYEV/SPUTNIK/AFP via Getty Images) THE RUSSIAN COUP FANTASY Apr 20, 2022 Barak Barfi explains why the country’s military leaders are highly unlikely to oust President Vladimir Putin. 0 Add to Bookmarks 4. How to Design a Pandemic Preparedness and Response Fund Sonny Tumbelaka/AFP via Getty Images HOW TO DESIGN A PANDEMIC PREPAREDNESS AND RESPONSE FUND Apr 20, 2022 Mariana Mazzucato & Alan Donnelly highlight four conditions that the G20's proposed financing vehicle must meet in order to succeed. 0 Add to Bookmarks TRENDING 1. The End of an Economic Illusion THE END OF AN ECONOMIC ILLUSION Apr 15, 2022 John H. Cochrane 2. Putin’s Failed State PUTIN’S FAILED STATE Apr 8, 2022 Anders Åslund 3. US Strategic Ambiguity Over Taiwan Must End US STRATEGIC AMBIGUITY OVER TAIWAN MUST END Apr 12, 2022 Abe Shinzō 4. The Incredible Bouncing Ruble THE INCREDIBLE BOUNCING RUBLE Apr 12, 2022 Sergei Guriev 5. War in a World that Stands for Nothing WAR IN A WORLD THAT STANDS FOR NOTHING Apr 18, 2022 Slavoj Žižek PS ONPOINT The Forgotten Origins of Silicon Valley PS OnPoint Smith Collection/Gado/Getty Images THE FORGOTTEN ORIGINS OF SILICON VALLEY William H. Janeway Sebastian Mallaby's new book offers a detailed exploration of how US venture capital became the go-to model for commercializing innovations at the technological frontier. But no industry exists in a vacuum, so it is important to consider precisely why this model evolved where and when it did. shows how the venture capital industry has always piggybacked on US government investment. 2 Add to Bookmarks The Justices Have No Clothes PS OnPoint Bill Clark/CQ/Roll Call, Inc via Getty Images THE JUSTICES HAVE NO CLOTHES Nicholas Reed Langen blames the US Constitution itself for the naked partisanship fueling the Supreme Court's legitimacy crisis. 8 Add to Bookmarks The Coming Decade of Peacelessness PS OnPoint Aris Messinis/AFP via Getty Images THE COMING DECADE OF PEACELESSNESS Sigmar Gabriel thinks Europe is entering a new period of turmoil from which it could ultimately emerge stronger. 5 Add to Bookmarks View all OnPoint is part of our premium content for subscribers. Get exclusive explainers, thematic deep dives, interviews with world leaders, and our Year Ahead magazine. Learn more. SAY MORE An Interview with Eswar Prasad Say More AN INTERVIEW WITH ESWAR PRASAD Eswar Prasad assesses challenges to the US dollar’s global preeminence, explains how cryptocurrencies could hurt Russia during the Ukraine war, and highlights emerging blockchain-based financial products. 1 Add to Bookmarks An Interview with Nina L. Khrushcheva Say More Alexei Druzhinin/TASS via Getty Images AN INTERVIEW WITH NINA L. KHRUSHCHEVA Nina L. Khrushcheva deciphers Vladimir Putin’s approach to negotiations with Ukraine, assesses the state of his propaganda machine, and considers what an isolated Russia will mean for the West. 6 Add to Bookmarks An Interview with Kristen Ghodsee Say More AN INTERVIEW WITH KRISTEN GHODSEE Kristen Ghodsee considers social factors that may have made Ukraine seem vulnerable to Russia, identifies socialist-era policies that countries today should adopt, and highlights how that era was better for women in one key sense. 2 Add to Bookmarks View all Say More is a weekly interview series where a selected contributor expands on ideas covered in their commentaries, addresses new issues, and shares personal recommendations, giving readers a deeper look at their perspective and personality. THE BIG PICTURE Are Major Central Banks Doing Enough to Fight Inflation? The Big Question Brooks Kraft/Getty Images ARE MAJOR CENTRAL BANKS DOING ENOUGH TO FIGHT INFLATION? Featured in this Big Question 1. Hippolyte Fofack , 2. James K. Galbraith , 3. Brigitte Granville , 4. Stephen S. Roach The ongoing war in Ukraine has triggered further spikes in energy and food prices, increasing the pressure on US and eurozone central bankers who had been slow to respond to earlier inflation risks. We asked PS commentators how much, and how fast, they should tighten monetary policy. 3 Add to Bookmarks The Forgotten Climate Crisis? The Big Picture Vuk Valcic/SOPA Images/LightRocket via Getty Images THE FORGOTTEN CLIMATE CRISIS? Featured in this Big Picture 1. Mary Robinson, 2. Helen Clark, 3. Dan Smith, 4. Margot Wallström, 5. Jean Pisani-Ferry, 6. Laura Chinchilla, 7. María Fernanda Espinosa, 8. May Boeve, 9. Mitzi Jonelle Tan, 10. Nisha Agarwal While the terrible human and physical cost of Russia’s invasion of Ukraine is understandably the focus of political attention, the fight against global warming risks becoming another casualty of the war. What can policymakers do to prevent 2022 from being a lost year for climate action? 3 Add to Bookmarks Will the Russia Sanctions Work? The Big Question Stefan Sauer/picture alliance via Getty Images WILL THE RUSSIA SANCTIONS WORK? Featured in this Big Question 1. Jayati Ghosh, 2. Ricardo Hausmann, 3. Harold James, 4. Shang-Jin Wei Russian President Vladimir Putin’s invasion of Ukraine led Western governments to impose severe financial and economic sanctions aimed at weakening Russia. But what are the unprecedentedly punitive measures likely to achieve? 3 Add to Bookmarks View all The Big Picture brings together a range of Project Syndicate commentaries not just on topics in the news, but also on the deeper issues driving the news. Readers quickly gain the insights of diverse, authoritative perspectives on critical global events and challenges. SUSTAINABILITY NOW What We Need for Long-Term Peace and Prosperity Sustainability Now STEFANI REYNOLDS/AFP via Getty Images WHAT WE NEED FOR LONG-TERM PEACE AND PROSPERITY Margaret Kuhlow argues that the obvious breakdown of international systems makes the strongest case for a fundamental redesign. 2 Add to Bookmarks The IMF Needs to Mitigate Climate Transition Risk Sustainability Now Aksara M. Rahman/AFP via Getty Images THE IMF NEEDS TO MITIGATE CLIMATE TRANSITION RISK Xiaobei He, et al. call for more coordination to prevent policies in one country from destabilizing economies elsewhere. 0 Add to Bookmarks The Carbon Price Solution Sustainability Now George Frey/Getty Images THE CARBON PRICE SOLUTION Ben Meng & Anne Simpson urge policymakers to give private investors the incentives they need to drive the net-zero transition. 1 Add to Bookmarks View all SUSTAINABILITY NOW IS BROUGHT TO YOU IN PART BY: * * * VIDEOS PS Events: Finance 3.0 PS EVENTS: FINANCE 3.0 PS editors present the Finance 3.0 event. 0 Add to Bookmarks PODCASTS Imprisoned by the Infosphere IMPRISONED BY THE INFOSPHERE Maciej Kuziemski & Peter Pomerantsev consider how the internet has severed the link between expression and emancipation. 0 Add to Bookmarks OPINION THAT MOVES ECONOMICS & FINANCE 1. HOW TO DESIGN A PANDEMIC PREPAREDNESS AND RESPONSE FUND Apr 20, 2022 Mariana Mazzucato & Alan Donnelly 2. THIS INFLATION IS DEMAND-DRIVEN AND PERSISTENT Apr 20, 2022 Jason Furman 3. WHAT IS SOUTH KOREA’S PRESIDENT-ELECT FACING? Apr 19, 2022 Keun Lee 4. A PERFECT STORM FOR DEVELOPING COUNTRIES Apr 19, 2022 Ngaire Woods POLITICS & WORLD AFFAIRS 1. THE RUSSIAN COUP FANTASY Apr 20, 2022 Barak Barfi 2. CAN ANTI-EU POPULISM SURVIVE PUTIN’S WAR? Apr 19, 2022 Philippe Legrain 3. WAR IN A WORLD THAT STANDS FOR NOTHING Apr 18, 2022 Slavoj Žižek 4. WHY DO WE OBEY THE LAW? Apr 18, 2022 Antara Haldar SMART DEVELOPMENT 1. THE GLOBAL METHANE IMPERATIVE Apr 20, 2022 Sarah Vogel & Marcelo Mena 2. WHAT IS CHINA’S COVID ENDGAME? Apr 13, 2022 Nancy Qian 3. AVOIDING COVID COMPLACENCY Apr 7, 2022 José Manuel Barroso 4. FIXING OUR FAILING FOOD SYSTEMS Apr 5, 2022 Ndidi Okonkwo Nwuneli & Oliver Camp SUSTAINABILITY NOW 1. HOW THE G7 CAN SUPPORT AFRICA’S CLIMATE AGENDA Apr 20, 2022 Olumide Abimbola & Zainab Usman 2. WHAT WE NEED FOR LONG-TERM PEACE AND PROSPERITY Apr 19, 2022 Margaret Kuhlow 3. THE CARBON PRICE SOLUTION Apr 13, 2022 Ben Meng & Anne Simpson 4. HIDDEN CARBON SUBSIDIES WILL DESTROY US Apr 12, 2022 Jayati Ghosh & Debamanyu Das INNOVATION & TECHNOLOGY 1. CBDCS FOR THE PEOPLE Apr 18, 2022 H.M. Queen Máxima of the Netherlands & Agustín Carstens 2. BIDEN’S HEALTH MOONSHOT Mar 29, 2022 Mariana Mazzucato & Travis Whitfill 3. STARTUP CULTURE GOES GLOBAL Mar 28, 2022 Michael Spence 4. THE DIGITAL GOVERNMENT AGENDA NORTH AMERICA NEEDS Mar 24, 2022 Anne-Marie Slaughter & Alberto Rodriguez Alvarez CULTURE & SOCIETY 1. THE FALSE PROMISE OF DEMOCRATIC PEACE Apr 19, 2022 Robert Skidelsky 2. CHINA’S ABORTION PROBLEM CAN’T BE REGULATED AWAY Apr 14, 2022 Yi Fuxian 3. THE CONTRADICTIONS OF COMPASSION Apr 5, 2022 Ian Buruma 4. THE NONHUMAN VICTIMS OF PUTIN’S WAR Apr 5, 2022 Peter Singer & Oleksandr Todorchuk BFG Images/Getty Images THE AFRICAN CENTURY Africa’s economic rise is a world-changing development, but the sources of its emerging strength – and lingering weaknesses – are little understood. W… 1. HOW THE G7 CAN SUPPORT AFRICA’S CLIMATE AGENDA Apr 20, 2022 Olumide Abimbola & Zainab Usman 2. AFRICA’S LONG POST-COVID CLIMB Apr 13, 2022 Hippolyte Fofack 3. AFRICA'S COUP WAVE Mar 14, 2022 Rabah Arezki PRESS RELEASED Today’s media landscape is littered with landmines: open hostility from illiberal and autocratic regimes, mounting censorship in countries such as Hungary, Turkey,… 1. THE FAILURE OF RUSSIA’S MEDIA ELITE Apr 8, 2022 Maxim Mironov 2. HUNGARY’S MANIPULATED ELECTION Apr 4, 2022 Bálint Magyar & Bálint Madlovics 3. HOW TO DISRUPT THE FAKE NEWS MARKET Mar 10, 2022 Mohamed Suliman Chung Sung-Jun/Getty Images THE COVID-19 CRISIS As the COVID-19 crisis escalates, PS commentators assess its implications for the economy, propose policy responses, and consider what might – and sho… 1. HOW TO DESIGN A PANDEMIC PREPAREDNESS AND RESPONSE FUND Apr 20, 2022 Mariana Mazzucato & Alan Donnelly 2. AFRICA’S LONG POST-COVID CLIMB Apr 13, 2022 Hippolyte Fofack 3. WHAT IS CHINA’S COVID ENDGAME? Apr 13, 2022 Nancy Qian * On Point * Say More * Big Picture * Sections * Columnists * Archive * Videos * Podcasts Get our weekly newsletters Make your inbox smarter. 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