Why all countries will come together more and more to hold the World Bank accountable for its questionable practices.

Shared wariness over China is the main reason the U.S. and Vietnam have embraced each other. But it shouldn’t be the only one.

Twenty-first century economists blithely talked of the "risk-free debt" of governments, and European bank regulators set a zero-capital requirement on the debt of their governments. The manifold proof of their error is that banks and other investors are now taking huge credit losses on their Greek government bonds. The only question is why anybody would be surprised by this.

There has been much gnashing of teeth and rolling of eyes over eurozone leaders' repeated inability to solve their financial crisis once and for all. The rest of the world can best help, the reasoning goes, by shouting exhortations at Europe to just try harder. But what, exactly, are Europeans being urged to do?

There's no question but that a Greece should be "allowed" to default.

History shows us that sovereign governments often default on their loans, particularly in times of war or economic upheaval. Europe finds itself in this situation now and would do well to examine past sovereign debt crises—particularly, the European sovereign debt crisis of the 1920s—for lessons.

As global stock markets tumbled over the last few trading days, pundits fell all over each other to assign blame. Not only can the finger-pointing be diverting--and perhaps politically advantageous--but it is natural to search for reason and understanding in such a harrowing time. The problem is a surfeit of suspects.

The fight against terrorism is no closer to success today than it was a decade ago when, in the wake of the September 11 terror attacks, President George W. Bush declared a Global War on Terrorism.