AEI Resident fellow Alex Pollock examines past sovereign debt crises, especially the European crisis of the 1920s, in the context of the current economic situation for a piece in the latest Financial Services Outlook and the Wall Street Journal.

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.

The prospect of Iran achieving nuclear breakout capability is becoming more imminent. Reports this past weekend indicate that Iran has built the infrastructure needed for operating more efficient and advanced centrifuges at the Fordow Fuel Enrichment Plant.

While the United States consumes a disproportionate share of global resources devoted to medical care, this global share is shrinking.

President Obama’s budget cuts the U.S. military while asking those in uniform to accept more risk in their jobs and providing fewer resources to fulfill their missions. Congress should reject these proposals as going too far for too few and pass a budget resolution that adds additional resources to properly fund military readiness and modernization.

AEI has covered the Iraq conflict from start to finish, as well as the longer war in Afghanistan in the face of a looming 2014 deadline for Afghan security forces to take over.

Steven Hayward reports on the results of the Durban climate change convention. 

Poverty is a human problem, not simply an economic one, and it demands a human response. How should we as individuals respond to the problem of poverty in our communities? What role should institutions play in helping the poor?