This chapter discusses the story of European integration in what is known as the European Union. The decision in 1951 by six European nations to pool coal and steel production under a common authority-the European Coal and Steel Community-marked the beginning of European integration. French...

This article presents an overview of the life of Richard Layard, who believes that the basic purpose of economics is the maximization of happiness and well-being. As director of the Wellbeing Programme at the London School of Economics' Centre for Economic Performance, Layard focuses on the...

This paper reports about current mainstream growth projections for the United States and the European Union over the medium term represent a marked slowdown from growth rates in the decades prior to the global financial crisis. Slower growth in Europe and the United States has mixed implications...

This paper analyzes that although demands for political transformation commanded the world's attention, those calls were largely motivated by unresolved socioeconomic issues. Demonstrators in the streets of Cairo and Tunis demanding bread, dignity, and social justice expressed widely held...

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance and Development (F and D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the...

This year, we mark the 70th anniversary of the IMF and World Bank and the 50th anniversary of F&D. The world has seen a staggering amount of change in the past seven decades. So, with these two anniversaries in mind we focused our attention on the transformation of the global economy-looking...

Cracks in the System: World Economy Under Stress"" explores the rapidly changing institutional and policymaking landscape around a financial crisis that now threatens a deep and prolonged global recession. The lead article looks at how the world got into the mess and what to do about it, both...

For policymakers around the world, finding ways to promote faster growth is a top priority. But what exactly do economists know and not know about growth? What direction should future research and policymaking take? This issue explores this topic, starting with a major World Bank study and...

Climate Change: Stimulating a Green Recovery” looks at the global problem of climate change. With the world apparently on an economic recovery path, policymakers are looking at ways to limit the impact of climate change through broad international action. One of the challenges is to balance...