Almost 40 years ago, Carl Sagan testified before the US Senate on climate change. He noted, “If you don’t worry about it now, it is too
A Warning from Carl Sagan
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The Right Way to Intervene in Clean Tech
Energy markets have clearly failed to accelerate the deployment of renewables. But as the pendulum swings in the direction of state intervention,
Protecting the World’s Forests Means Protecting Indigenous Rights
Indigenous peoples have proven to be the best protectors of our world’s natural resources. But their lands and traditional ways of life
Artificial Intelligence, Economics and the End of Business
Humans are not destined to be slaves to either technological innovation or economics.
America’s Higher-Education Financing Challenge
The Biden administration’s plan to expand income-driven repayment options for student loans is a step in the right direction. But to
Unlike China, India Cannot Be an Economic Superpower
Beginning in the mid-1980s, the prevailing belief among Indian and international observers was that the authoritarian Chinese regime would
Our Summer (But not Necessarily Beach) Reading List
Are you looking for different kind of beach reading this summer? If so, you might enjoy these thoughtful perspectives.
Finding Growth in a Fractured World
The Chinese economy’s current travails illustrate the growth challenges facing many other countries around the world. By re-engineering
What to Do About Radical Uncertainty
A longstanding belief in the predictability of market behavior and outcomes has created plenty of fodder for academic theorizing in economics.
Why Is America Undercutting Japan?
At a time when the United States is asking its allies to help it counter China, its wasteful, inefficient industrial policies are making it
De-Leveraging: The Secret to US Economic Resilience?
The US economy has confounded economists and markets by avoiding recession. Perhaps it is less interest rate sensitive than commonly believed.
The Comeback of Industrial Policy: Bidenomics and the Global System
Industrial policy is not always wrong and sometimes it is very right. Now is one of those times. Even Adam Smith might agree.
Currency, Conflict, and Global Order
A more divided world does not imply the demise of the dollar’s central role in the global economic and financial system.
Winning the Fight for Women’s Land Rights
Gender inequality has prevented female agricultural workers in numerous countries from owning and inheriting the land that they cultivate.
The Long Reach of China’s Demographic Destiny
Although China is on the verge of escaping the dreaded “middle-income trap,” it is aging fast and facing significant economic
Focus on Productivity, Not Technology
Scientific and technological innovation may be necessary for the productivity growth that enriches societies, but it is not sufficient. Without
We Celebrate Struggle
On July 4 Americans celebrate their independence and freedom. But they also celebrate the permanent struggle to form a more perfect
India and the Global Balance of Power
Great power politics now include India. But will India tip the balance?
How Painful Will Disinflation Be?
Bringing down inflation often requires recession. But might this time be different? Much depends on restoring the balance between job vacancies
Don’t Let the Lessons of Juneteenth Fade
Juneteenth must not be forgotten, for the work of justice and equity is ongoing.
Flexible Exchange Rates and Emerging Markets
Starting in the 1990s – and faster since 2000 – emerging-market economies floated their currencies, hoping to insulate themselves from
Has Putin Lost Russia?
Vladimir Putin’s greatest nightmare has come true, with Russia having been brought to the brink of civil war. Even if a massacre of the
Fly-Casting for Recession
Fly fishing, like economic forecasting, is nothing if not an exercise in patience. Wait long enough, and fortunes may change.
America’s Mythical Fiscal Conservatives
The United States’ debt-to-GDP ratio, which improved during the inflationary spike of 2021-22, is expected to increase as inflation cools