The Federal Reserve’s policies have also benefited the relatively well off; it is trying to raise the prices of assets which are overwhelmingly owned by the rich

A debt-addicted economy with stagnant levels of education is likely to fare ill in future

 People rally for  greater action against climate change during the People’s Climate March on Sunday, September 21st, in New York City. Photograph: Andrew Burton/Getty Images

All but most obdurate sceptics must recognise probability of irreversible climate change is much greater than zero

Russian soldiers dressed in Soviet WWII uniform march through  Red Square in Moscow.

West must shed its post cold-war illusions and act according to its principles

 Photograph: Mike Kemp/Rubberball/Getty

The European project is a failed marriage, and only a radical reappraisal of the union – political and, above all, fiscal – can pr(...)

Marine Le Pen of France’s National Front: the capacity of member states to tolerate unemployment and deep slumps cannot be unlimited. Photograph: Benoit Tessier

If the powers continue on the same course, the result will probably be a populist reaction

A woman walks past a currency exchange store with an Argentine national flag on display in Buenos Aires’ financial district. REUTERS/Marcos Brindicci

Sovereign issuers should shift from reliance on standard debt contracts towards ones with risk-sharing elements built in

The production line at the Scania AB factory in Sodertalje, Sweden. Photographer: Erik Abel/Bloomberg

Opinion: canonical academic model of governance rarely the best

The Bank for International Settlements has accused the world’s main central banks of incompetence

A pro-government activist throws a firework at policemen guarding the US embassy in Buenos Aires, during a protest against the US court ruling about “holdout” investors in Argentina. Photograph: Reuters/Enrique Marcarian

Opinion: mechanism to restructure sovereign debt is not optional in global capitalism

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