Evan Harrington

Global inequality—both across nations and within their borders—has evolved through a tangled interplay of economic, technological, political and environmental forces over the past forty years, with some dynamics narrowing gaps between countries, as seen in China’s rapid expansion and growth across parts of Asia, while others have significantly deepened income and wealth divides within most advanced and many emerging economies; grasping these underlying forces clarifies why resources accumulate among a limited few even as vast populations remain exposed to persistent vulnerability.Key forces shaping the economyStrong returns to capital relative to growth The dynamic highlighted by Thomas Piketty—that returns on capital…

Global interest rates set by major central banks and reflected in international bond yields shape the cost of money worldwide. That transmission matters for everyday prices—mortgages, rents, food, energy, and consumer credit—even when domestic central banks set local policy. This article explains the transmission channels, gives concrete examples and numbers, and outlines how households, firms, and policymakers experience and respond to global rate changes.Key transmission channelsGlobal interest rates help shape local living expenses through a range of interconnected pathways:Exchange rates and import prices: Higher global rates, especially in reserve currencies, attract capital to those currencies. That can depreciate local currencies,…

Peace processes confront a core dilemma: they must stabilize post-conflict settings swiftly enough to avert renewed fighting while still providing adequate accountability to address grievances, discourage future abuses, and secure justice for victims. Achieving this balance calls for a blend of political bargaining, security assurances, judicial and non-judicial tools, and sustained institutional reform. This article outlines the inherent trade-offs, reviews available mechanisms, analyzes major cases, distills empirical insights, and presents practical design guidelines for building durable settlements that avoid exchanging justice for temporary tranquility.Core tension: stability versus accountabilityStability requires swiftly lowering levels of violence, bringing armed groups back into society,…

Global supply chains are larger and more connected than ever, yet they regularly feel brittle. Disruptions that once would have been localized now ripple across continents. That fragility is not just a series of bad events; it is the product of structural choices, changing risk landscapes, and incentives that prioritize cost efficiency over redundancy. Understanding why requires looking at concrete disruptions, systemic drivers, and the realistic trade-offs firms and governments face when trying to harden supply lines.Prominent upheavals that revealed vulnerable pointsCOVID-19 pandemic: Factory shutdowns, labor shortages, and demand swings in 2020–2022 caused shortages across medical supplies, electronics, and consumer…