Kenneth Rogoff: Higher Interest Rates Are Here to Stay

with Dani Rodrik, Raghuram G. Rajan, Antara Haldar, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( DECEMBER 10, 2023 This week at [Project Syndicate]( Eric Posner explains why Donald Trump’s re-election is more likely to bring anarchy than tyranny; Angela Huyue Zhang warns that China’s cautious and tolerant regulatory approach to artificial intelligence could carry high costs; Kenneth Rogoff predicts that interest rates will remain elevated for the next decade; and more. Politics & World Affairs [A Trump Dictatorship Won’t Happen]( [Eric Posner]( doubts that the former president would be able to overcome constitutional checks and balances if re-elected. Innovation & Technology [China's Short-Sighted AI Regulation]( [Angela Huyue Zhang]( assesses a recent court ruling allowing copyright protection for content generated by artificial intelligence. [PS. Subscribe to PS Digital now and save 30% on your first year with us.]( Economics & Finance [Higher Interest Rates Are Here to Stay]( [Kenneth Rogoff]( thinks that policymakers and economists must reassess their beliefs in light of current market realities. Politics & World Affairs [Western Firms Should Leave China Now]( [Simon Johnson]( [Yuriy Gorodnichenko]( and [Ilona Sologoub]( argue that the strategy of economic engagement has failed to mitigate the Chinese regime’s behavior. [PS Longer Reads: The World Needs a Humble Approach to Central Banking]( [The World Needs a Humble Approach to Central Banking]( [Jacob Frenkel]( [Raghuram G. Rajan]( and [Axel A. Weber]( explain why monetary policymakers must accept a deliberately narrow mandate. Innovation & Technology [AI's Copyright Problem Is Fixable]( [Mike Loukides]( and [Tim O’Reilly]( show how to trace the provenance of generative models’ output and compensate human authors accordingly. Economics & Finance [The Twilight Zone of Economics]( [Antara Haldar]( uses Nobel laureate Robert J. Shiller’s work to buttress the case for a behavioral approach to economics. [PS Big Picture: Whac-A-Populist]( [Whac-A-Populist]( [Daron Acemoglu]( [Jacek Rostowski]( [Soňa Muzikárová]( and more consider the recurrent populist threat on both sides of the Atlantic. Economics & Finance [Better Jobs Mean Better Development]( [Dani Rodrik]( shows why rich and poor countries alike will have to enhance employment and productivity in service sectors. Culture & Society [The Google Trial’s Dangerous Secrecy]( [Karina Montoya]( warns that the tech behemoth’s success in limiting public access to legal proceedings threatens press freedom. [PS Big Picture: How Bad Is China’s Economy?]( From the Archive [How Bad Is China’s Economy?]( [Yi Fuxian]( [Nancy Qian]( [Yu Yongding]( and more examine whether all the recent doomsaying is warranted. Politics & World Affairs [Does India Have a Hit List?]( [Shashi Tharoor]( worries that recent plots to assassinate Sikh separatists abroad could undermine vital diplomatic relationships. Politics & World Affairs [The Two-State Solution in the Twenty-First Century]( [Joschka Fischer]( explains what it will take to revive the Middle East peace process after the war in Gaza ends. [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](