The Legacy of 2020, with Angus Deaton, James K. Galbraith, Ngaire Woods, and more

Featuring commentaries by Anne Case, Angus Deaton, James K. Galbraith, and more, plus a new Big Picture on the governance lessons of 2020 [View this message in a web browser]( DECEMBER 31, 2020 Welcome to the new and improved Behind the Headlines. Each week, we highlight the latest commentaries linked to the most important news stories, and share a brand new Big Picture topical collection, which takes readers on a deep dive into a critical issue or event. The COVID-19 Crisis [Living and Dying in America in 2021]( [Anne Case]( and [Angus Deaton]( warn that the pandemic has accelerated trends associated with the epidemic of deaths of despair. The US Presidential Transition [Who Is America?]( [Ian Buruma]( asks why President Donald Trump has unleashed an unprecedented spree of federal executions before leaving office. The Big Picture [The Legacy of 2020]( [The Legacy of 2020]( Although there will be a temptation to forget this pandemic-ridden year as quickly as we can, the COVID-19 crisis holds useful lessons that must not be neglected. A major question for 2021 is which of the significant changes wrought in 2020 will prove to be temporary, and which deeper and longer-lasting. Featuring: [BILL EMMOTT]( [JOSCHKA FISCHER]( [JEFFREY FRANKEL]( [ANA PALACIO]( [YANIS VAROUFAKIS]( [NGAIRE WOODS]( The Modern Monetary Theory Debate [Who’s Afraid of MMT?]( [James K. Galbraith]( explains why this body of Keynesian monetary thought is making central bankers see red. The US-China Competition [A Messy Financial Divorce for the US and China]( [G]( Magnus]( highlights the disconnect between official decoupling and American firms' efforts to deepen engagement. The Year Ahead magazine [How Might COVID-19 Change the World?]( [Jared Diamond]( sees reason to hope that the pandemic will galvanize support for combating other global problems. Big Tech at Bay? [The Stampede from Silicon Valley]( [John B. Taylor]( explains how California policymakers can reverse the growing stampede of tech firms out of the state. The EU Recovery Fund [Europe's Misconceived Cohesion]( [Bálint Magyar]( and [Bálint Madlovics]( argue that the EU's recent deal with the Hungarian and Polish governments is rooted in a fundamental mistake. [PS. Holiday Sale, 50% off]( 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](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.