Articles by Pablo Pardo

About the Author

Pablo Pardo
Pablo Pardo is Washington DC correspondent of El Mundo. Journalist especialized in International Economics and Politics.

“US Inequality Is A Reflection Of The Deep Racism That Built This Country”

Pablo Pardo | Jeff Sachs is the activist economist. An interview with him seems more like a conversation with a leader of a social or political movement than with one of the youngest full-time professors in the history of Harvard University. At 66 years old, he has just published in Spain his latest book, ‘The Ages of Globalization’ (Deusto). He still believes in the integration of the world economy as much as he did three and a half decades ago. However, at the slightest opportunity, he launches into anti-Trump meanders that do not always have to do with the question he has been asked.


How a government shutdown affects the economy

The US Earmarks €3.3 Tr To Fight The Effects Of The Pandemic; The EU Has Not Yet Disbursed Even €750 Bn

Pablo Pardo (Washington) | What if it turns out that we are going to come out of the Covid-19 recession too quickly? In Europe that sounds like a joke, of course, thanks to the disaster organized by the European Commission with the purchase of the vaccines, and the insistence of the northern EU countries that no funds should be committed for the revival of the lazy southern ones. But that is not the case in the US, where the vaccine campaign is going much faster, and the public authorities have not been shy about spending to stimulate the economy.


The Coming War Between Washington And Silicon Valley

Pablo Pardo (Washington) | According to the so-called ‘Bork Doctrine’, a company that has a dominant position in a market can benefit consumers. The Democratic Party has always been more reluctant to accept that thesis than the Republican Party. In recent years, that opposition has become tougher. So one would think that both for purely political reasons – to please the left wing of the Democratic Party – and for ideological principles – that opposition to the control of big business – Biden will not pass up the opportunity to trim the quasi-monopolies of the Internet giants.


USA, Banana Republic: Its Economy In The Hands Of The Fed

Pablo Pardo (Washington) | The catastrophe following the elections, with president Donald Trump refusing to admit electoral defeat and practically the entire Republican Party supporting him, has confirmed the US is almost a developing country but without malaria. With the US in a political situation of underdevelopment, the management of the economy until Trump leaves the White House, passes to the Federal Reserve. In principle, this is on the outside of political disputes.


Education And Inequality In The US: A Democrat Victory Will Heat Up The Debate

Pablo Pardo | The total amount of tthe student debt in the US is over $1 Tr ( €850 Bn ).But since the beginning of the pandemic, the US has spent more than $2.2 Tr (almost 1.9 Bn euros) to avoid the economy crashing. For the Republican Party, these liabilities are not a problem in which the State should intervene. Furthermore, the cultural gap goes hand in hand with the economic disparity in the US and the pandemic has exacerbated these divisions. The gap between Republicans and Democrats and, at the same time, between Democrats, over the question of student debt illustrates how the debate on economic policy can be in 2021.


The Day After The Coronavirus, What’s The Economy Going To Be Like?

Pablo Pardo (Washington) | In March, Maryland-based pharmaceutical company Novavax was trading at 36 dollar cents (32 euro cents). It was a “penny stock”. On July 8th, Novavax closed at $104.56 (92.76 euros). Later they will say that the coronavirus is bad for the economy. What will happen to the price of the pharmaceutical companies on the day when a vaccine against the coronavirus arrives? And what will happen to the excess income arising from the help to the unemployed? And what about the much-trumpeted transformation of supply chains?


“OPEC+ Will Start To Recover Power In The Oil Market As Demand Slump Hits US Output”

Pablo Pardo (Washington) | One of the most exciting stories of the world economy in 2002 is the oil price collapse. David Fyfe, chief economist of one of the world’s largest suppliers of raw materials’ prices, Argus, is aware that the oil market is not going to be the same after this collapse in demand. It will take years for prices to recover – if they do – and US production will be lower.


USA: Lives for Money

Pablo Pardo (Washington) | The decision to restart the economic activity will lead to a further increase in deaths, although health authorities around the world hope that it will not lead anywhere near the collapse of health systems, as happened in March and April. But when you say, “lives for money”, you are, relatively speaking, right. Maintaining a daily life that looks even slightly normal will make the death toll rise. It is the price to pay for avoiding an economic depression. 


Coronavirus: “The Loser, For The Moment, Is The West” Says Ian Bremmer

Pablo Pardo (Washington) | We don’t know yet what will happen but, for the moment, it is clear that the fact that China has apparently been able to contain the pandemic better than the US or much of the EU will considerably strengthen that country’s political appeal and capacity for influence. The loser, for the moment, is the West. The economic damage was inevitable. But the political damage, for example in the US, due to the lack of preparation and the scant attention paid to experts, could have been much less…


“The Global Legal And Economic System Is Biased In Favor Of Capital”

Pablo Pardo (Washington) | Joseph Stiglitz is undoubtedly the most famous Nobel Laureate in Economics in the world… after Paul Krugman. Also the most controversial and the one who has entered more directly into the public debate. However, he does not want to assess the Spanish political situation, despite the fact he has been an informal collaborator of Podemos since he received Pablo Iglesias in his office at Columbia University five years ago.