PRINCETON — The collapse of cryptocurrency exchange FTX and the mesmerising rise and fall of its founder, Sam Bankman-Fried, is only the most recent episode encapsulating the perils of financial innovation.

PRINCETON — Capitalism relies on competition. In practice, however, this core principle is often violated, because ambitious capitalists will naturally seek to eliminate competition and secure a commanding market position from which they can keep new would-be competitors at bay.

 PRINCETON — A relatively small-scale banking crisis has been sufficient to demonstrate the fragility of multilateralism today.

PRINCETON — After nine years of war, and one year of intensified fighting following Russia’s full-scale invasion, Ukraine’s future remains murky. In the West, the current debate is focused largely on the matter of weapons shipments to Ukraine.

PRINCETON — Our world has become both confusing and confused. The international economy works well, but the political economy is mired in hostility toward markets, frustration at globalisation, and skepticism about growth.

PRINCETON  —  It is not too soon to think about what will follow Russia’s war on Ukraine. Figuring out the post-conflict future is essential not just for Russia’s Ukrainian victims, but also for Europe and the world.

PRINCETON  —  The resignation of Liz Truss, the United Kingdom’s shortest-serving prime minister, completes a powerful case study of how not to make fiscal policy.

PRINCETON  —  New Yorkers have come to expect traffic chaos when the United Nations General Assembly meets every September. But this year, there is also paralysing congestion in the minds of the attendees.

 PRINCETON  —  The Conservative Party contest to succeed Boris Johnson as prime minister of the United Kingdom has touched on a principal component of modern political economy: Central banks.