Over 3.5 billion people—or half of the world’s population—live in countries that are rich in extractive resources such as oil, gas, and minerals. Yet, too often, the benefits from this wealth do not go to support the development of the country and thus do not work to the advantage of the  average citizen. Extractive resources are inherently challenging for governments to manage effectively, transparently, and inclusively.

STANFORD – The recent controversy over errors in a 2010 paper by the economists Carmen Reinhart and Kenneth Rogoff is a sad commentary on the demands of the 24/7 news cycle and the politically toxic atmosphere surrounding fiscal policy in the United States, Europe, and Japan. In their paper, “Growth in a Time of Debt,” Reinhart and Rogoff estimated large declines in growth associated with public-debt/GDP ratios above 90%. But it contained coding errors discovered by a University of Massachusetts graduate student. When corrected, the effect is substantially smaller, but nonetheless economically consequential.

NEW DELHI – A half-century after the Sino-Indian War of 1962, the border between China and India remains undefined and a constant source of friction between the world’s two most populous countries. Following three weeks of fighting in 1962, it was agreed to draw a Line of Actual Control (LAC). But, five decades later, the map has yet to be delineated. As a result, both sides routinely send patrols up to the point where they believe the LAC should be – the latest episode being a three-week incursion by Chinese troops into Indian-held territory that began in April.

PARIS – The demise of the Roman Empire resulted from a combination of strategic overreach and excessive delegation of security responsibilities to newcomers. Without making undue comparisons, the question for the United States today is whether it can remain the world’s leading power while delegating to others or to technological tools the task of protecting its global influence.