Mohamed A. El-Erian: Beware the New Consensus on the Global Economy

with Mariana Mazzucato, Slavoj Žižek, James K. Galbraith, Richard Haass, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( DECEMBER 3, 2023 This week at [Project Syndicate]( Mohamed A. El-Erian warns that consensus economic forecasts for the coming year may be too optimistic; Richard Haass assesses Henry Kissinger’s career following his death at age 100; Katharina Pistor explains why the OpenAI saga was neither novel nor surprising; and more. Economics & Finance [Beware the New Consensus on the Global Economy]( [Mohamed A. El-Erian]( worries that domestic political divisions and market volatility could exacerbate financial vulnerabilities. Politics & World Affairs [The Legacy of Henry Kissinger]( [Richard Haass]( reviews the life and career of America’s preeminent foreign-policy scholar-practitioner. [Digital Business Strategy: How to design, build, and future-proof business in the digital age]( [Digital Business Strategy: How to design, build, and future-proof business in the digital age]( By Garvan Callan "Garvan Callan is a visionary strategic thinker." – Richard Boucher, Chairman of CRC plc and former CEO of the Bank of Ireland Sponsored by De Gruyter Innovation & Technology [In AI, Capital Wins Again]( [Katharina Pistor]( shows why OpenAI’s efforts to preserve its founding non-profit mission never stood any chance. Economics & Finance [Cry for Milei’s Argentina]( [Paola Subacchi]( cautions against the incoming leader’s pledge to establish the greenback as the sole legal tender. [PS Longer Reads: Market Power Is Permanent, and Technological Competition Does Not Remove It]( [Market Power Is Permanent, and Technological Competition Does Not Remove It]( [Mordecai Kurz]( shows that technological change leads not to disruption, but to deeper, more enduring forms of market power. Economics & Finance [Will High Interest Rates Trigger a Debt Disaster?]( [James K. Galbraith]( shows that renewed warnings about dangerous debt-to-GDP ratios are belied by history and recent experience. Politics & World Affairs [The New Roots of Anti-Semitism]( [Slavoj Žižek]( worries that Zionist fundamentalism is exacerbating the problem it purports to solve. [PS Say More: Antara Haldar on behavioral economics, global governance, and more]( [Antara Haldar on behavioral economics, global governance, and more]( [Antara Haldar]( advocates a radical rethink of development, highlights the economics discipline’s shortcomings, and more. Economics & Finance [When Investors Subvert States]( [Jayati Ghosh]( urges policymakers to end the undemocratic practice of allowing multinationals to sue sovereign countries. Economics & Finance [Water and the High Price of Bad Economics]( [Mariana Mazzucato]( [Partha Dasgupta]( [Johan Rockström]( and [Nicholas Stern]( explain why new thinking is needed to address a crisis closely linked to climate change and biodiversity loss. [PS Topics: Making COP28 Count]( PS Topics [Making COP28 Count]( PS commentators – including [Yvonne Aki-Sawyerr]( [Naveeda Khan]( [Josep Borrell]( and more – consider the challenges and opportunities presented by the UN Climate Change Conference in Dubai. Politics & World Affairs [What Anti-Trumpism Is Missing]( [Daron Acemoglu]( urges Democrats to support working-class interests and priorities after many years of neglect. Economics & Finance [Fixing China’s Real Estate Sector]( [Yu Yongding]( suggests three measures the government can take to address property developers’ deteriorating finances. [PS. Subscribe now to reserve your copy of PS Quarterly: The Year Ahead 2024.]( 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. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](