Investment for Sustainable Growth
The big disappointment in the world economy today is the low rate of investment. In the years leading up to the 2008 financial crisis, growth in high-income countries was propelled by spending on housing and private consumption. When the crisis hit, both kinds of spending plummeted, and the investme…
What ISIL really wants from the battle for Mosul
When Abu Bakr Al Baghdadi, ISIL’s leader, ascended the pulpit of the Great Mosque in Mosul two years ago, his choice of venue was not arbitrary. The Great Mosque was built by the Zangi dynasty that ruled Aleppo and Mosul in the 12th century. Today, even though the two cities face different conflicts…