Recall

We need to develop a tougher, more dedicated, and indeed a more stubborn attachment to prosperity and freedom. When you see what this means in practice, you may wince at some of the implications, and you may be put off by the moral absolutism it will require. Yet these goals—strictly rather than loosely pursued—are of historic importance for our ci

In the event, G5 policy makers met to forestall a crisis and hammered out the 1985 Plaza Accord , designed to bring down the runaway dollar. It worked! Some would argue too well, because the subsequent 1987 Louvre Accord was forced through to brake the skidding dollar.

An important characteristic of this post–Cold War era has also been the emergence of a significant number of global challenges along with a large gap between the scale of the challenges and the world’s willingness and ability to meet them. The phrase “international community” is often used, but the harsh reality (with partial exceptions, such as co

CONFRONT . . . OR MAKE CONCESSIONS