The New York Times - metered paywall - 25 Jul 2018
Continental Europe is one of the very few places in the rich world where workers are finally getting a bigger piece of the economic pie. In a world of discontent, this is important news, but nobody quite understands the reason why real wages are increasing. This article presents some possible explanations at a time when the relationship between growth, wages and inflation has become much harder to understand (reads in 5-6 min).
Published in Weekly selection 28 July 2018
Carnegie Endowment - 22 Jun 2018
Moises reviews Stephen Brill’s “Tailspin”, which argues that last century, America partitioned into two nations: the exploiters and the exploited - an unintended consequence of what seemed at the time to be progressive policies. The Administrative Procedure Act of 1946 allowed lobbyists to capture government agencies. Free speech absolutism led to Citizens United. Meritocracy allowed the smartest to capture everything, and feel they were entitled to hold on to it (reads in 6-7 min).
Published in Weekly selection 30 June 2018
The Japan Times - 4 May 2018
In this short column (reads in 5-6 min.), one of the most astute economists on Japan argues that the country “deserves the Nobel Prize for applied economics”. He observes that Japan is performing well - a model of capitalism that manages better than most to balance income growth and income distribution. He provides loads of data showing that the system is good at bringing up the bottom of the income pyramid and generating exceptional inclusion for all in financial wealth creation.
Published in Weekly selection 12 May 2018