America’s Stimulus Debate, with James K. Galbraith, Joseph E. Stiglitz, Ana Palacio, and more

Featuring commentaries by Stephen S. Roach, Josef Joffe, Ana Palacio, Ruth Ben-Ghiat, Mark Leonard, and more [View this message in a web browser]( [PS Behind the Headlines]( FEBRUARY 25, 2021 Welcome to 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. EU-Russia Relations [Europe's Misadventure in Moscow]( [Europe's Misadventure in Moscow]( [Ana Palacio]( hopes the EU foreign-policy chief's disastrous visit catalyzes progress toward a coherent Russia policy. [The Russia Strategy Europe Needs]( [The Russia Strategy Europe Needs]( [Mark Leonard]( urges EU leaders to pursue a new policy of “principled indifference” toward President Vladimir Putin’s regime. [Germany’s Empty Pipeline Logic]( [Germany’s Empty Pipeline Logic]( [Josef Joffe]( views Nord Stream 2 as a €10 billion monument to personal gain and an obsolete strategic doctrine. The Big Picture [America’s Stimulus Debate]( [America’s Stimulus Debate]( Many would regard the middle of a pandemic-induced economic crisis as the wrong time to sound the alarm about the potential dangers of profligate government spending. But as US President Joe Biden’s proposed $1.9 trillion economic rescue plan works its way through Congress, it is not only Republicans who are asking whether providing too much fiscal stimulus could be just as risky as delivering too little. Featuring: [JOSEPH E. STIGLITZ]( [JAMES K. GALBRAITH]( [DARON ACEMOGLU]( [GEORGE P. SHULTZ]( [JOHN F. COGAN]( [JOHN B. TAYLOR]( [ROBERT SKIDELSKY]( Blackouts in Texas [Texas Froze by Design]( [James K. Galbraith]( blames the state's power outages and water shortages on a flawed free-market model for utility companies. The COVID-19 Economic Crisis [The Limits to America's Pent-Up Demand]( [Stephen S. Roach]( cautions that lasting scarring in face-to-face services will limit the rebound in consumption and employment. [An Interview with Ruth Ben-Ghiat]( Say More [An Interview with Ruth Ben-Ghiat]( [Ruth Ben-Ghiat]( suggests how the Biden administration can combat democratic erosion, highlights the international nature of white supremacy, and more. Italy’s New Government [The Draghi Power Triangle]( [Melvyn Krauss]( explains why Italy's new prime minister will play a larger role in European affairs than in domestic politics. NASA Rover Lands on Mars [Why Mars Matters]( [Christopher E. Mason]( argues that settling the red planet is an ethical imperative that is technologically and biologically feasible. [PS. The latest on politics for less than $9 a month.]( [Facebook]( [Twitter]( [LinkedIn]( 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](.