Modern Monetary Nonsense - Kenneth Rogoff

The Sunday Newsletter [View this message in a web browser]( [Project Syndicate]( MARCH 10, 2019 This week at [Project Syndicate]( Emmanuel Macron outlines the reforms needed to renew the European Union, Kenneth Rogoff dismantles so-called Modern Monetary Theory, and Elizabeth Drew wonders whether Trump's base could be his salvation in 2020, and more. Join the conversation. Politics & World Affairs [Renewing Europe]( [Emmanuel Macron]( calls on EU citizens to focus on three goals ahead of the critical European Parliament election in May. Economics & Finance [Modern Monetary Nonsense]( [Kenneth Rogoff]( highlights deep flaws in plans to use the Federal Reserve's balance sheet to fund new US government programs. Politics & World Affairs [Will Trump Win a Second Term?]( [Elizabeth Drew]( sketches a scenario in which the US president's maintenance of his base ends up being his salvation. [Subscribe to Project Syndicate]( Politics & World Affairs [Brexit Is Hell]( [Harold James]( says British leaders' hubris and self-delusion have condemned their country to a future of despair. Economics & Finance [Why Economics Must Get Broader Before It Gets Better]( [Mohamed El-Erian]( warns that the profession is ignoring its own failures and overlooking other disciplines' insights at its peril. [Europe in the Shadows]( On Point [Europe in the Shadows]( [Sigmar Gabriel]( warns that Germany and the European Union are facing a future of global subordination to China and America. Economics & Finance [Keep Politics Out of Europe's Competition Decisions]( [Patrick Rey]( and [Jean Tirole]( warn that current Franco-German proposals risk undermining the EU's independent anti-trust authorities. [Minding the Gap]( Big Picture [Minding the Gap]( PS editors mark International Women's Day, 2019. Politics & World Affairs [Licking the Boot that Kicks You]( [Ian Buruma]( says that Michael Cohen's congressional testimony highlighted a crucial dynamic of authoritarian rule. Economics & Finance [China's Quiet Central Banking Revolution]( [Miao Yanliang]( welcomes the Chinese central bank's more open communication and increasingly flexible exchange-rate regime. [Run Down the Brexit Clock]( Archive [Run Down the Brexit Clock]( [Yanis Varoufakis]( argues that none of the main players will agree on a deal until the March 29 deadline is upon them. Politics & World Affairs [The Trumping of Ukraine]( [Nina Khrushcheva]( sees nothing funny about a TV comedian's candidacy in the country's presidential race. Politics & World Affairs [India’s China Problem in Pakistan]( [Shashi Tharoor]( blames Chinese diplomacy for enabling terrorist leaders to operate freely. [Subscribe to Project Syndicate]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](