By Jeffrey Garten

The growth of government-owned investment companies, often called sovereign wealth funds, has caused a lot of hand-wringing in the US and Europe – and rightly so. Read more

By Willem Buiter

The UK government is con­-sidering reclassifying cannabis from a class C drug to a class B drug, carrying higher penalties for using and dealing. As an economist with a strong commitment to personal liberty and responsibility, my preference would be to see all illegal drugs legalised. The only exception would be substances whose consumption leads to behaviour likely to cause material harm to others. Read more