A euro exit will be essential to write down much of Greece’s debt. Photograph: Reuters

There’s a bit of a lull in the news from Europe, but the underlying situation is as terrible as ever. Greece is experiencing a slump worse than the G(...)

Republican presidential candidate Jeb Bush speaks during a town hall campaign stop  in Hudson, New Hampshire. Photograph: Brian Snyder/Reuters

Americans work longer hours than their counterparts in just about every other wealthy country; we are known, among those who study such things, as the(...)

Alexis Tsipras speaks to media in Brussels. Photograph: Jasper Juinen/Bloomberg.

Suppose you consider Tsipras an incompetent twerp. Suppose you dearly want to see Syriza out of power. Suppose, even, that you welcome the prospect of(...)

Greece’s debt problem reflected irresponsible lending as well as irresponsible borrowing, and in any case the Greeks have paid for their government’s sins many times over

Europe dodged a bullet on Sunday. Confounding many predictions, Greek voters strongly supported their government’s rejection of creditor demands. And (...)

Pensioners waiting outside a closed National Bank branch and hoping to get their pensions, argue with a bank employee in Iraklio on the island of Crete. Photograph:  Reuters/Stefanos Rapanis 3:02

It has been obvious for some time that the creation of the euro was a terrible mistake. Europe never had the preconditions for a successful single cur(...)

‘Racial hatred is still a potent force in US society, as we’ve just been reminded to our horror.’ People attend an interfaith candlelit vigil in solidarity with the Emanuel African Methodist Episcopal Church in Charleston,  South Carolina, in Brooklyn, New York. Photograph: Kena Betancur/Getty Images

America is a much less racist nation than it used to be, and I’m not just talking about the still remarkable fact that an African-American occupies(...)

Hillary Clinton, former US secretary of state,  formally began her campaign for president on Saturday, and surprised most observers with an unapologetically liberal and populist speech Photograph: Daniel Acker/Bloomberg

On Friday, Democrats in the United States House of Representatives shocked almost everyone by rejecting key provisions needed to complete the trans-Pa(...)

It’s an article of faith on the right that any attempt by the government to fight unemployment must lead to disaster, so the faithful must keep predicting disaster no matter how often it fails to materialise

When it comes to economics – and other subjects, but I’ll focus on what I know best – we live in an age of “derp” and cheap cynicism. And there are po(...)

A man looks at displayed goods for sale inside a €1 shop in Athens, Greece: A forced Greek exit from the euro would create huge economic and political risks, yet Europe seems to be sleepwalking toward that outcome. Photograph: Alkis Konstantinidis/Reuters

US officials are generally cautious about intervening in European policy debates. The European Union is, after all, an economic superpower in its own (...)

But a funny thing happened on the way to the techno-revolution. We did not get a sustained return to rapid economic progress. Instead it was more of a one-time spurt which sputtered out about a decade ago

Remember Douglas Adams’s 1979 novel The Hitchhiker’s Guide to the Galaxy? It began with some technology snark, dismissing Earth as a planet whose life(...)