The World Bank, IMF, and WTO all face calls for structural reform

Critics argue that the World Bank, IMF, and WTO were designed to serve Western interests

Some analysts from developing nations argue that the Bretton Woods institutions were designed to reinforce Western economic dominance rather than to promote fair development for poorer countries. Supporters respond that these institutions have improved living standards worldwide.

Renewed competition between great powers is straining multilateral institutions

This analysis argues that the increasing US-China rivalry is fostering a more contested international environment—where shared rules and institutions are being challenged rather than reinforced.

The 1997 Asian financial crisis tested the limits of the rules-based order's financial architecture

When a currency crisis hit Thailand, Indonesia, and South Korea, the IMF allocated $118B in emergency loans. However, the attached conditions were widely criticized for worsening the economic downturn and increasing distrust of Western-led institutions across the Global South.

The WTO's dispute settlement system has been effectively paralyzed

The US has blocked appointments to the WTO's appellate body since 2017, arguing that the panel has overstepped its mandate. Without a functioning appeals court, the WTO can no longer enforce rulings or settle disputes.

Experts suggest where the UN should be reformed

In 2020, as the United Nations marked its 75th anniversary, the Council on Foreign Relations' Council of Councils published a collection of expert essays proposing reforms to enhance the UN's relevance. This collection of essays is a thought-provoking look at the UN's future.

The General Agreement on Tariffs and Trade and its successor, the WTO, was formed to reduce trade barriers between nations

Data from the WTO shows that this effort was successful, resulting in a quadrupling of global trade in goods and a reduction of tariff rates of member states by 44%. This indicates that the post-World War II international efforts to create a more liberal trade environment have been successful.

The failures of the interwar period made the case for a new international system

After World War I, countries devalued their currencies, raised tariffs to block imports, and seized territory unchecked, with the international community unable to organize effectively to stop them. The result was a global depression and, eventually, another world war.

The world reached historic levels of democracy under the rules-based order, though that trend has reversed

The share of democracies worldwide grew dramatically from the mid-20th century, reaching an all-time high in the early 2010s. Since then, the trend has reversed, with an increasing number of countries experiencing democratic backsliding.

Read the WEF’s Global Risks Report for 2025

The Global Risks Report is the World Economic Forum’s annual assessment of the most pressing threats facing the world. The 2025 edition highlights declining global optimism, deepening geopolitical and economic tensions, and rising social fragmentation across societies.

Balancing natural resource use: A look at sustainable governance

In an age of escalating environmental crises and increasing inequality, the governance of natural resources is critical to both human well-being and the health of our planet. This article published by the International Institute for Sustainable...

Critics argue that term limits weaken democracy and legislative effectiveness

Opponents contend that term limits deprive voters of choice, remove experienced lawmakers, and shift power to lobbyists and unelected staff. They believe frequent turnover reduces institutional knowledge and undermines the effectiveness of legislatures.

Compare how justice ministries and courts are structured around the world

The Federal Judicial Center's "Judiciaries Worldwide" series provides clear and accessible comparisons of how various countries organize their justice ministries, prosecutors, courts, and judicial councils—emphasizing global models of independence, oversight, and institutional structure.

Modern monetary theory argues that governments can spend more without worrying about debt

In this discussion, economists Stephanie Kelton and Rohan Grey join Jon Stewart to explain modern monetary theory and debate whether expansive government spending can address inequality and economic crises without traditional debt constraints.

A Wall Street Journal podcast examines allegations inside the WEF

In this episode of "The Journal," WSJ reporter Shalini Ramachandran investigates claims from current and former employees that the organization behind Davos fostered a toxic workplace, sparked by an anonymous whistleblower letter in 2025 and internal accounts.

Of the 12 voting policymakers at every Federal Open Market Committee meeting, 4 are present on a rotating basis

To allow for diverse regional perspectives in the votes on monetary policy, heads of regional banks hold voting power on two- or three-year cycles.

In 2007, Bridgewater Associates warned of an impending financial crisis

Ray Dalio even presented his concerns to the US Treasury Secretary. In late 2025, Dalio warned of another recession, in line with models he created in his book "How Countries Go Broke: The Big Cycle."

Watergate-era reforms restricted the power of the presidency

Watergate ushered in sweeping changes. Agencies were required to release information openly, officials had to disclose finances transparently, and new laws limited conflicts of interest. The reforms also established independent oversight of ethics and safeguarded presidential records, curbing abuse and boosting accountability.

The Big Three consulting firms are McKinsey & Company, Boston Consulting Group, and Bain & Company

Some also refer to this group as “MBB.” As a nearly century-old company that’s well known for its prestige, McKinsey has some famous alumni—including Chelsea Clinton and Sheryl Sandberg. The other two consulting firms in the Big Three have employed some famous faces over the years, too.

Critics say Nobel Prizes need updating to reflect how science and society work today

The rules still favor individuals over teams and may reflect outdated views on who does science. In 2013, the Nobel Prize in physics went to two theorists, even though over 5,000 scientists helped confirm the Higgs boson.

Fintech could help democratize access to banking

More than 1.3 billion adults worldwide do not have access to basic banking services as of this writing—but some experts believe that the fintech industry can help with that by targeting groups of people who have historically been underserved by traditional banks.

Organized crime, including money laundering, drains $1.96T from the global economy annually

Overall, financial crime drains $3T from the global economy, with organized crime making up nearly $2T of that total. Drug trafficking is the second-largest drain on the global economy.

Amending the Constitution requires broad support

The framers created a demanding amendment process. Proposed changes require two-thirds approval in both houses of Congress and ratification by three-fourths of the state legislatures, making sure that constitutional amendments reflect a broad national consensus rather than temporary political majorities.

Wealthy, 'chaebol' families rule South Korea's economy

A handful of huge family-run conglomerates, or chaebol, are the engines of South Korea’s economy, with Samsung alone representing 20% of the country’s GDP. This gives the chaebol (literally “wealth group”) outsized power, often leading to corruption, labor violations, and anticompetitive practices. One economist interviewed in this Vice documentary says the chaebol have replaced Korean democracy with corporatocracy.

Ethereum’s biggest risks and top criticisms

As it evolves, critics say Ethereum’s constant changes make the platform overly complex and fundamentally less secure. They also say the Ethereum Foundation and a handful of developers wield too much control over the crypto platform, and that gas fees are prohibitively expensive. Some criticisms are addressed in Ethereum’s roadmap, but others strike at the crypto platform’s core. Go deeper on why here.

Learn more about the four main market structures

In modern economic theory, there are four main market structures. Under each market structure, firms (or businesses) have differing levels of competition and reach different levels of price efficiency based on the consumer's willingness to pay for a product or service.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Despite being favored by 87% of Americans, Congress does not have term limits.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Three Ebola species are responsible for most large outbreaks of the disease, yet the only approved Ebola vaccine is known to work against just one of them.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Artificial coral reefs have been 3D printed from nontoxic, biodegradable terracotta clay, which coral polyps have used as a foundation for rebuilding marine ecosystems.

Famed poet TS Eliot rejected the manuscript for George Orwell's political fable 'Animal Farm,' writing that its criticism of authoritarianism was not 'the right point of view.'

NBA superstar Victor Wembanyama spent the 2025 summer training with monks in central China to enhance his body and mind.

Alzheimer's can lead to brain shrinkage, with an average of around 2% of volume reduction per year

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

The identity of the Tank Man in the iconic photo from the 1989 Tiananmen Square protests remains unknown and was possibly killed.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.