As we look forward, we must also continue to remember the past. In our Thinkers50 Top Blog series, we revisit the ideas of our Thinkers.

Given the U.S. economy's sustained recovery, it is all but certain that the Federal Reserve will start to reduce bond-buying later this year and end it completely sometime in 2014. As real U.S. interest rates inch up, investors are pulling money back from emerging markets. With the tide of easy money receding, India, Indonesia, Thailand, Brazil, Turkey and a host of others face growing current account deficits . . .